49 Wealth Management LLC boosted its position in Johnson & Johnson (NYSE:JNJ - Free Report) by 133.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,406 shares of the company's stock after acquiring an additional 1,950 shares during the period. 49 Wealth Management LLC's holdings in Johnson & Johnson were worth $565,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank bought a new stake in shares of Johnson & Johnson during the 4th quarter valued at about $4,390,037,000. Raymond James Financial Inc. bought a new stake in shares of Johnson & Johnson during the 4th quarter valued at about $1,339,878,000. GAMMA Investing LLC boosted its stake in Johnson & Johnson by 24,450.4% during the first quarter. GAMMA Investing LLC now owns 7,215,367 shares of the company's stock worth $1,196,596,000 after acquiring an additional 7,185,977 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Johnson & Johnson by 26.4% in the first quarter. Bank of New York Mellon Corp now owns 23,182,464 shares of the company's stock worth $3,844,580,000 after purchasing an additional 4,842,582 shares during the period. Finally, Janus Henderson Group PLC increased its stake in shares of Johnson & Johnson by 134.5% during the fourth quarter. Janus Henderson Group PLC now owns 7,948,508 shares of the company's stock valued at $1,149,536,000 after purchasing an additional 4,559,147 shares in the last quarter. 69.55% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of analysts have recently commented on the company. Leerink Partnrs cut Johnson & Johnson from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 13th. Sanford C. Bernstein reissued a "market perform" rating on shares of Johnson & Johnson in a research note on Wednesday, April 16th. Barclays reduced their price target on Johnson & Johnson from $166.00 to $165.00 and set an "equal weight" rating for the company in a report on Thursday, April 17th. Benchmark upgraded Johnson & Johnson to a "strong-buy" rating in a report on Thursday, April 24th. Finally, Bank of America decreased their target price on shares of Johnson & Johnson from $171.00 to $159.00 and set a "neutral" rating for the company in a report on Thursday, April 10th. Eleven investment analysts have rated the stock with a hold rating, seven have given a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, Johnson & Johnson has an average rating of "Moderate Buy" and a consensus target price of $171.00.
Read Our Latest Research Report on Johnson & Johnson
Johnson & Johnson Stock Performance
JNJ traded up $1.44 during midday trading on Thursday, reaching $157.72. The company had a trading volume of 6,719,599 shares, compared to its average volume of 8,053,055. Johnson & Johnson has a 1 year low of $140.68 and a 1 year high of $169.99. The company has a quick ratio of 1.03, a current ratio of 1.26 and a debt-to-equity ratio of 0.49. The company has a market cap of $379.48 billion, a P/E ratio of 17.54, a P/E/G ratio of 2.36 and a beta of 0.41. The business has a 50-day moving average of $153.67 and a two-hundred day moving average of $154.27.
Johnson & Johnson (NYSE:JNJ - Get Free Report) last announced its quarterly earnings data on Tuesday, April 15th. The company reported $2.77 EPS for the quarter, beating the consensus estimate of $2.59 by $0.18. The firm had revenue of $21.89 billion for the quarter, compared to the consensus estimate of $21.65 billion. Johnson & Johnson had a net margin of 24.42% and a return on equity of 33.46%. As a group, equities research analysts predict that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.
Johnson & Johnson Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Tuesday, May 27th were issued a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 3.30%. This is a boost from Johnson & Johnson's previous quarterly dividend of $1.24. The ex-dividend date of this dividend was Tuesday, May 27th. Johnson & Johnson's payout ratio is 57.84%.
About Johnson & Johnson
(
Free Report)
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.
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