Westchester Capital Management Inc. raised its stake in Johnson & Johnson (NYSE:JNJ) by 0.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 67,261 shares of the company’s stock after acquiring an additional 356 shares during the period. Johnson & Johnson accounts for approximately 4.1% of Westchester Capital Management Inc.’s portfolio, making the stock its 6th largest position. Westchester Capital Management Inc.’s holdings in Johnson & Johnson were worth $8,898,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Lenox Wealth Advisors Inc. boosted its stake in Johnson & Johnson by 0.6% in the second quarter. Lenox Wealth Advisors Inc. now owns 876 shares of the company’s stock valued at $116,000 after acquiring an additional 5 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. boosted its stake in Johnson & Johnson by 241.0% in the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,190 shares of the company’s stock valued at $149,000 after acquiring an additional 841 shares in the last quarter. Shine Investment Advisory Services Inc. acquired a new position in Johnson & Johnson in the second quarter valued at $177,000. Ullmann Financial Group Inc. acquired a new position in Johnson & Johnson in the first quarter valued at $186,000. Finally, Puplava Financial Services Inc. purchased a new stake in shares of Johnson & Johnson in the second quarter valued at about $202,000. Institutional investors own 65.91% of the company’s stock.

Johnson & Johnson (JNJ) traded down $0.17 during midday trading on Wednesday, reaching $139.85. 970,591 shares of the company traded hands, compared to its average volume of 5,859,969. The stock has a market capitalization of $370,766.63, a PE ratio of 19.33, a P/E/G ratio of 2.80 and a beta of 0.82. Johnson & Johnson has a 52-week low of $109.32 and a 52-week high of $144.35. The company has a quick ratio of 1.02, a current ratio of 1.32 and a debt-to-equity ratio of 0.36.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings results on Tuesday, October 17th. The company reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.80 by $0.10. The firm had revenue of $19.65 billion during the quarter, compared to analysts’ expectations of $19.29 billion. Johnson & Johnson had a net margin of 21.28% and a return on equity of 27.38%. The firm’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same period in the prior year, the company posted $1.68 earnings per share. equities research analysts predict that Johnson & Johnson will post 7.28 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 12th. Investors of record on Tuesday, November 28th will be issued a dividend of $0.84 per share. The ex-dividend date of this dividend is Monday, November 27th. This represents a $3.36 annualized dividend and a yield of 2.40%. Johnson & Johnson’s dividend payout ratio is currently 58.33%.

A number of equities research analysts have recently commented on JNJ shares. Credit Suisse Group set a $154.00 target price on shares of Johnson & Johnson and gave the company an “outperform” rating in a report on Thursday, October 19th. Royal Bank Of Canada upped their target price on shares of Johnson & Johnson from $144.00 to $147.00 and gave the company an “outperform” rating in a report on Wednesday, October 18th. Citigroup started coverage on shares of Johnson & Johnson in a report on Monday, September 25th. They issued a “neutral” rating and a $140.00 target price for the company. Goldman Sachs Group cut shares of Johnson & Johnson from a “neutral” rating to a “sell” rating and upped their target price for the company from $125.00 to $130.00 in a report on Wednesday, September 20th. Finally, Jefferies Group raised shares of Johnson & Johnson from a “hold” rating to a “buy” rating and upped their target price for the company from $145.00 to $157.00 in a report on Wednesday, October 11th. Four analysts have rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $144.59.

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Johnson & Johnson Profile

Johnson & Johnson is a holding company, which is engaged in the research and development, manufacture and sale of a range of products in the healthcare field. It operates through three segments: Consumer, Pharmaceutical and Medical Devices. Its primary focus is products related to human health and well-being.

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Institutional Ownership by Quarter for Johnson & Johnson (NYSE:JNJ)

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