8,970 Shares in Johnson & Johnson (NYSE:JNJ) Acquired by Price Capital Management Inc.

Price Capital Management Inc. purchased a new stake in shares of Johnson & Johnson (NYSE:JNJ - Free Report) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 8,970 shares of the company's stock, valued at approximately $1,488,000. Johnson & Johnson accounts for 3.8% of Price Capital Management Inc.'s holdings, making the stock its 12th largest position.

Several other hedge funds and other institutional investors have also recently modified their holdings of JNJ. WealthTrak Capital Management LLC purchased a new position in Johnson & Johnson during the fourth quarter valued at $26,000. Conquis Financial LLC purchased a new position in Johnson & Johnson during the fourth quarter valued at $33,000. Bernard Wealth Management Corp. purchased a new position in Johnson & Johnson during the fourth quarter valued at $36,000. Highline Wealth Partners LLC lifted its position in Johnson & Johnson by 51.8% during the first quarter. Highline Wealth Partners LLC now owns 252 shares of the company's stock valued at $42,000 after buying an additional 86 shares during the period. Finally, von Borstel & Associates Inc. purchased a new position in Johnson & Johnson during the first quarter valued at $49,000. 69.55% of the stock is currently owned by institutional investors.

Johnson & Johnson Stock Down 0.7%

Johnson & Johnson stock traded down $1.27 during midday trading on Friday, reaching $168.29. The company's stock had a trading volume of 6,199,690 shares, compared to its average volume of 8,375,731. The stock's 50-day simple moving average is $156.08 and its 200-day simple moving average is $155.78. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.26 and a quick ratio of 1.03. Johnson & Johnson has a 52-week low of $140.68 and a 52-week high of $169.99. The stock has a market capitalization of $404.92 billion, a P/E ratio of 18.00, a PEG ratio of 2.16 and a beta of 0.41.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last released its quarterly earnings results on Wednesday, July 16th. The company reported $2.77 EPS for the quarter, beating analysts' consensus estimates of $2.68 by $0.09. Johnson & Johnson had a return on equity of 33.07% and a net margin of 25.00%. The company had revenue of $23.74 billion during the quarter, compared to analysts' expectations of $22.85 billion. During the same period last year, the business posted $2.82 earnings per share. The firm's revenue was up 5.8% compared to the same quarter last year. On average, sell-side analysts expect that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 9th. Stockholders of record on Tuesday, August 26th will be paid a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 3.09%. The ex-dividend date of this dividend is Tuesday, August 26th. Johnson & Johnson's payout ratio is 55.61%.

Wall Street Analyst Weigh In

JNJ has been the subject of several analyst reports. Morgan Stanley raised their price target on Johnson & Johnson from $171.00 to $176.00 and gave the company an "equal weight" rating in a report on Thursday, July 17th. The Goldman Sachs Group upgraded Johnson & Johnson from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $157.00 to $172.00 in a research note on Wednesday, April 9th. Royal Bank Of Canada upped their price target on Johnson & Johnson from $181.00 to $185.00 and gave the stock an "outperform" rating in a research note on Thursday, July 17th. Guggenheim reaffirmed a "neutral" rating and set a $167.00 price objective (up from $164.00) on shares of Johnson & Johnson in a report on Thursday, July 17th. Finally, Leerink Partners cut Johnson & Johnson from an "outperform" rating to a "market perform" rating and decreased their price objective for the stock from $169.00 to $153.00 in a report on Tuesday, May 13th. Nine analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $174.50.

About Johnson & Johnson

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.