Nutshell Asset Management Ltd Buys New Position in Johnson & Johnson (NYSE:JNJ)

Nutshell Asset Management Ltd acquired a new position in Johnson & Johnson (NYSE:JNJ) during the fourth quarter, HoldingsChannel.com reports. The fund acquired 9,000 shares of the company’s stock, valued at approximately $1,302,000. Johnson & Johnson accounts for approximately 0.8% of Nutshell Asset Management Ltd’s investment portfolio, making the stock its 26th largest holding.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in JNJ. Principal Financial Group Inc. raised its position in shares of Johnson & Johnson by 10.5% in the third quarter. Principal Financial Group Inc. now owns 3,472,312 shares of the company’s stock valued at $562,723,000 after purchasing an additional 329,473 shares during the period. United Bank increased its holdings in shares of Johnson & Johnson by 5.6% during the third quarter. United Bank now owns 3,788 shares of the company’s stock worth $614,000 after purchasing an additional 202 shares during the period. Texas Capital Bank Wealth Management Services Inc increased its stake in Johnson & Johnson by 24.6% during the 3rd quarter. Texas Capital Bank Wealth Management Services Inc now owns 6,224 shares of the company’s stock worth $1,009,000 after acquiring an additional 1,227 shares during the period. Wahed Invest LLC increased its position in shares of Johnson & Johnson by 7.7% in the third quarter. Wahed Invest LLC now owns 58,301 shares of the company’s stock worth $9,448,000 after purchasing an additional 4,158 shares during the period. Finally, Voya Financial Advisors Inc. increased its holdings in Johnson & Johnson by 3.3% in the 3rd quarter. Voya Financial Advisors Inc. now owns 4,716 shares of the company’s stock valued at $761,000 after buying an additional 149 shares during the period. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Johnson & Johnson Stock Performance

Shares of JNJ stock opened at $153.03 on Friday. The company has a market cap of $368.77 billion, a P/E ratio of 23.01, a P/E/G ratio of 2.56 and a beta of 0.47. The firm has a 50-day moving average of $159.75 and a 200-day moving average of $155.91. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.11 and a quick ratio of 0.86. Johnson & Johnson has a one year low of $140.68 and a one year high of $169.99.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings data on Wednesday, January 22nd. The company reported $2.04 EPS for the quarter, topping the consensus estimate of $1.99 by $0.05. Johnson & Johnson had a return on equity of 34.24% and a net margin of 18.20%. The company had revenue of $22.52 billion during the quarter, compared to analyst estimates of $22.44 billion. During the same quarter in the previous year, the firm earned $2.29 earnings per share. Johnson & Johnson’s revenue was up 5.3% on a year-over-year basis. Equities research analysts forecast that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Analyst Ratings Changes

JNJ has been the subject of several recent analyst reports. Royal Bank of Canada restated an “outperform” rating and set a $181.00 target price on shares of Johnson & Johnson in a research note on Wednesday. Wells Fargo & Company reduced their price objective on Johnson & Johnson from $166.00 to $152.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 23rd. Barclays upped their price objective on shares of Johnson & Johnson from $159.00 to $166.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 28th. Guggenheim reissued a “neutral” rating on shares of Johnson & Johnson in a report on Wednesday. Finally, Bank of America lifted their price target on Johnson & Johnson from $159.00 to $171.00 and gave the company a “neutral” rating in a research note on Wednesday, March 5th. Nine investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Johnson & Johnson presently has a consensus rating of “Moderate Buy” and an average target price of $171.33.

Insider Activity at Johnson & Johnson

In other Johnson & Johnson news, VP Robert J. Decker sold 6,999 shares of the business’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $165.88, for a total value of $1,160,994.12. Following the transaction, the vice president now owns 21,001 shares in the company, valued at approximately $3,483,645.88. The trade was a 25.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Timothy Schmid sold 403 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $156.15, for a total value of $62,928.45. Following the completion of the sale, the executive vice president now directly owns 15,098 shares in the company, valued at $2,357,552.70. The trade was a 2.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.16% of the stock is currently owned by insiders.

Johnson & Johnson Company Profile

Johnson & Johnson is a holding company, which engages in the research, development, manufacture, and sale of products in the healthcare field. It operates through the Innovative Medicine and MedTech segments. The Innovative Medicine segment focuses on immunology, infectious diseases, neuroscience, oncology, cardiovascular and metabolism, and pulmonary hypertension.