Davis Capital Management Grows Stock Holdings in Johnson & Johnson (NYSE:JNJ)

Davis Capital Management raised its stake in Johnson & Johnson (NYSE:JNJ) by 6.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,144 shares of the company’s stock after buying an additional 531 shares during the period. Johnson & Johnson comprises 1.3% of Davis Capital Management’s holdings, making the stock its 26th biggest holding. Davis Capital Management’s holdings in Johnson & Johnson were worth $1,443,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in the stock. Keener Financial Planning LLC purchased a new stake in shares of Johnson & Johnson in the 4th quarter worth approximately $40,000. WFA Asset Management Corp lifted its position in shares of Johnson & Johnson by 61.4% in the 4th quarter. WFA Asset Management Corp now owns 255 shares of the company’s stock worth $40,000 after purchasing an additional 97 shares during the period. Vermillion & White Wealth Management Group LLC purchased a new stake in shares of Johnson & Johnson in the 4th quarter worth approximately $44,000. Disciplined Equity Management Inc. purchased a new stake in shares of Johnson & Johnson in the 4th quarter worth approximately $45,000. Finally, Grayhawk Investment Strategies Inc. lifted its position in Johnson & Johnson by 528.6% during the fourth quarter. Grayhawk Investment Strategies Inc. now owns 308 shares of the company’s stock valued at $48,000 after acquiring an additional 259 shares during the last quarter. 69.55% of the stock is owned by hedge funds and other institutional investors.

Johnson & Johnson Trading Down 0.2 %

Shares of Johnson & Johnson stock opened at $145.65 on Thursday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.17 and a quick ratio of 0.94. The firm has a fifty day moving average price of $148.04 and a 200 day moving average price of $154.49. Johnson & Johnson has a 1 year low of $143.13 and a 1 year high of $175.97. The stock has a market cap of $350.53 billion, a PE ratio of 9.08, a price-to-earnings-growth ratio of 2.42 and a beta of 0.53.

Johnson & Johnson (NYSE:JNJ) last issued its earnings results on Tuesday, April 16th. The company reported $2.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.64 by $0.07. Johnson & Johnson had a net margin of 45.26% and a return on equity of 36.70%. The firm had revenue of $21.38 billion during the quarter, compared to analysts’ expectations of $21.39 billion. During the same quarter last year, the company posted $2.68 earnings per share. The firm’s revenue was up 2.3% compared to the same quarter last year. Equities research analysts predict that Johnson & Johnson will post 10.63 earnings per share for the current year.

Johnson & Johnson Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 4th. Investors of record on Tuesday, May 21st were issued a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a dividend yield of 3.41%. The ex-dividend date of this dividend was Monday, May 20th. This is a boost from Johnson & Johnson’s previous quarterly dividend of $1.19. Johnson & Johnson’s dividend payout ratio (DPR) is 30.92%.

Analyst Ratings Changes

Several equities research analysts have weighed in on JNJ shares. Royal Bank of Canada restated an “outperform” rating and issued a $175.00 target price on shares of Johnson & Johnson in a research note on Monday. HSBC upgraded shares of Johnson & Johnson from a “hold” rating to a “buy” rating and raised their target price for the company from $169.00 to $170.00 in a research note on Thursday, April 18th. Cantor Fitzgerald restated an “overweight” rating and issued a $215.00 target price on shares of Johnson & Johnson in a research note on Monday, May 6th. StockNews.com downgraded shares of Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a research note on Monday, June 10th. Finally, The Goldman Sachs Group started coverage on shares of Johnson & Johnson in a research note on Thursday, May 30th. They issued a “neutral” rating and a $160.00 target price for the company. Eight research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $174.07.

Johnson & Johnson Company 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.