Fred Alger Management LLC Buys 2,216 Shares of Johnson & Johnson (NYSE:JNJ)

Fred Alger Management LLC lifted its stake in shares of Johnson & Johnson (NYSE:JNJ) by 5.2% in the third quarter, according to its most recent filing with the SEC. The fund owned 45,184 shares of the company’s stock after acquiring an additional 2,216 shares during the period. Fred Alger Management LLC’s holdings in Johnson & Johnson were worth $7,323,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Innealta Capital LLC purchased a new position in shares of Johnson & Johnson during the 2nd quarter valued at about $27,000. Highline Wealth Partners LLC bought a new position in Johnson & Johnson during the third quarter valued at approximately $31,000. RPg Family Wealth Advisory LLC purchased a new position in shares of Johnson & Johnson during the third quarter worth approximately $35,000. Mowery & Schoenfeld Wealth Management LLC lifted its holdings in shares of Johnson & Johnson by 58.7% in the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 246 shares of the company’s stock worth $40,000 after acquiring an additional 91 shares during the last quarter. Finally, Activest Wealth Management purchased a new stake in shares of Johnson & Johnson in the 3rd quarter valued at $40,000. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Johnson & Johnson Trading Down 0.3 %

JNJ opened at $155.01 on Friday. The company has a quick ratio of 0.79, a current ratio of 1.03 and a debt-to-equity ratio of 0.45. Johnson & Johnson has a 52 week low of $143.13 and a 52 week high of $168.85. The stock has a market cap of $373.21 billion, a PE ratio of 22.43, a PEG ratio of 2.76 and a beta of 0.53. The business has a 50 day moving average of $159.15 and a 200-day moving average of $156.44.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings data on Tuesday, October 15th. The company reported $2.42 EPS for the quarter, beating the consensus estimate of $2.21 by $0.21. Johnson & Johnson had a return on equity of 35.45% and a net margin of 19.14%. The business had revenue of $22.47 billion during the quarter, compared to analyst estimates of $22.17 billion. During the same quarter last year, the firm posted $2.66 earnings per share. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. Equities research analysts predict that Johnson & Johnson will post 9.93 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 26th will be paid a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a yield of 3.20%. The ex-dividend date is Tuesday, November 26th. Johnson & Johnson’s payout ratio is 71.78%.

Analyst Ratings Changes

Several research firms have weighed in on JNJ. Guggenheim boosted their price target on shares of Johnson & Johnson from $156.00 to $162.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 6th. Morgan Stanley boosted their target price on Johnson & Johnson from $169.00 to $175.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. Wolfe Research began coverage on Johnson & Johnson in a research report on Friday, November 15th. They set an “outperform” rating and a $190.00 price target on the stock. Cantor Fitzgerald reiterated an “overweight” rating and issued a $215.00 price objective on shares of Johnson & Johnson in a research report on Wednesday, October 16th. Finally, StockNews.com raised shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 14th. Seven analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Johnson & Johnson has a consensus rating of “Moderate Buy” and a consensus target price of $175.94.

Johnson & Johnson Profile

Johnson & Johnson, together with its subsidiaries, researches, develops, manufactures, and sells various products in the healthcare field worldwide. The company's Innovative Medicine segment offers products for various therapeutic areas, such as immunology, including rheumatoid arthritis, psoriatic arthritis, inflammatory bowel disease, and psoriasis; infectious diseases comprising HIV/AIDS; neuroscience, consisting of mood disorders, neurodegenerative disorders, and schizophrenia; oncology, such as prostate cancer, hematologic malignancies, lung cancer, and bladder cancer; cardiovascular and metabolism, including thrombosis, diabetes, and macular degeneration; and pulmonary hypertension comprising pulmonary arterial hypertension through retailers, wholesalers, distributors, hospitals, and healthcare professionals for prescription use.