Sitrin Capital Management LLC Increases Position in Johnson & Johnson (JNJ)

Sitrin Capital Management LLC boosted its stake in shares of Johnson & Johnson (NYSE:JNJ) by 2.0% in the 3rd quarter, HoldingsChannel reports. The fund owned 51,768 shares of the company’s stock after buying an additional 1,021 shares during the period. Johnson & Johnson makes up 3.8% of Sitrin Capital Management LLC’s investment portfolio, making the stock its 7th largest position. Sitrin Capital Management LLC’s holdings in Johnson & Johnson were worth $7,153,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Alliance Wealth Management Group raised its holdings in shares of Johnson & Johnson by 23.3% during the first quarter. Alliance Wealth Management Group now owns 7,159 shares of the company’s stock worth $917,000 after acquiring an additional 1,352 shares during the period. Massmutual Trust Co. FSB ADV grew its position in Johnson & Johnson by 1.2% in the first quarter. Massmutual Trust Co. FSB ADV now owns 158,026 shares of the company’s stock valued at $20,251,000 after purchasing an additional 1,860 shares in the last quarter. Summit Trail Advisors LLC grew its position in Johnson & Johnson by 11,692.6% in the first quarter. Summit Trail Advisors LLC now owns 1,767,832 shares of the company’s stock valued at $1,768,000 after purchasing an additional 1,752,841 shares in the last quarter. Amalgamated Bank grew its position in Johnson & Johnson by 0.7% in the first quarter. Amalgamated Bank now owns 344,828 shares of the company’s stock valued at $44,190,000 after purchasing an additional 2,358 shares in the last quarter. Finally, Quad Cities Investment Group LLC bought a new position in Johnson & Johnson in the first quarter valued at $464,000. Institutional investors own 66.23% of the company’s stock.

A number of research firms recently weighed in on JNJ. Zacks Investment Research downgraded shares of Johnson & Johnson from a “hold” rating to a “sell” rating in a research report on Tuesday. Morgan Stanley decreased their target price on shares of Johnson & Johnson from $153.00 to $130.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 2nd. Citigroup decreased their target price on shares of Johnson & Johnson from $148.00 to $139.00 and set a “neutral” rating for the company in a research report on Wednesday, January 2nd. Finally, ValuEngine raised shares of Johnson & Johnson from a “hold” rating to a “buy” rating in a research report on Thursday, December 13th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the company. Johnson & Johnson currently has a consensus rating of “Hold” and a consensus target price of $140.89.

Shares of JNJ opened at $129.75 on Friday. Johnson & Johnson has a one year low of $118.62 and a one year high of $148.99. The stock has a market capitalization of $345.91 billion, a PE ratio of 17.77, a PEG ratio of 1.90 and a beta of 0.72. The company has a quick ratio of 1.40, a current ratio of 1.72 and a debt-to-equity ratio of 0.46.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings data on Tuesday, October 16th. The company reported $2.05 EPS for the quarter, beating analysts’ consensus estimates of $2.03 by $0.02. Johnson & Johnson had a net margin of 1.89% and a return on equity of 34.62%. The company had revenue of $20.35 billion during the quarter, compared to the consensus estimate of $20.05 billion. During the same quarter last year, the firm posted $1.90 EPS. The company’s quarterly revenue was up 3.6% on a year-over-year basis. On average, research analysts forecast that Johnson & Johnson will post 8.16 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 12th. Stockholders of record on Tuesday, February 26th will be given a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date is Monday, February 25th. Johnson & Johnson’s dividend payout ratio (DPR) is presently 49.32%.

Johnson & Johnson announced that its Board of Directors has approved a stock repurchase program on Monday, December 17th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 1.5% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.

In other news, CAO Ronald A. Kapusta sold 8,441 shares of Johnson & Johnson stock in a transaction dated Thursday, November 8th. The shares were sold at an average price of $145.15, for a total value of $1,225,211.15. Following the completion of the transaction, the chief accounting officer now owns 17,284 shares of the company’s stock, valued at approximately $2,508,772.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Charles Prince acquired 2,000 shares of the firm’s stock in a transaction dated Friday, December 14th. The stock was purchased at an average cost of $134.37 per share, with a total value of $268,740.00. Following the transaction, the director now owns 28,520 shares in the company, valued at $3,832,232.40. The disclosure for this purchase can be found here. In the last three months, insiders sold 514,187 shares of company stock valued at $74,951,528. Insiders own 0.22% of the company’s stock.

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Johnson & Johnson Profile

Johnson & Johnson is a holding company, which engages in the research and development, manufacture and sale of products in the health care field. It operates through the following segments: Consumer, Pharmaceutical, and Medical Devices. The Consumer segment includes products used in the baby care, oral care, beauty, over-the-counter pharmaceutical, women’s health, and wound care markets.

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

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