Abel Hall LLC Makes New $443,000 Investment in Johnson & Johnson (NYSE:JNJ)

Abel Hall LLC bought a new stake in Johnson & Johnson (NYSE:JNJ - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 2,674 shares of the company's stock, valued at approximately $443,000.

Other hedge funds also recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its stake in shares of Johnson & Johnson by 2.8% during the 4th quarter. Geode Capital Management LLC now owns 57,667,920 shares of the company's stock worth $8,321,881,000 after purchasing an additional 1,561,036 shares in the last quarter. Northern Trust Corp increased its stake in shares of Johnson & Johnson by 12.3% during the 4th quarter. Northern Trust Corp now owns 30,813,175 shares of the company's stock worth $4,456,201,000 after purchasing an additional 3,363,235 shares in the last quarter. Norges Bank purchased a new position in shares of Johnson & Johnson during the 4th quarter worth approximately $4,390,037,000. Wellington Management Group LLP increased its stake in shares of Johnson & Johnson by 1.8% during the 4th quarter. Wellington Management Group LLP now owns 24,356,572 shares of the company's stock worth $3,522,447,000 after purchasing an additional 431,205 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Johnson & Johnson by 26.4% during the 1st 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 in the last quarter. 69.55% of the stock is owned by hedge funds and other institutional investors.

Johnson & Johnson Stock Up 0.3%

JNJ stock traded up $0.52 during trading on Thursday, reaching $169.62. The stock had a trading volume of 6,629,361 shares, compared to its average volume of 8,401,730. Johnson & Johnson has a 1-year low of $140.68 and a 1-year high of $169.99. The company has a current ratio of 1.26, a quick ratio of 1.03 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $408.11 billion, a P/E ratio of 16.91, a PEG ratio of 2.15 and a beta of 0.41. The firm has a fifty day moving average price of $155.34 and a 200 day moving average price of $155.45.

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

Johnson & Johnson Announces Dividend

The business also recently announced 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. The ex-dividend date is Tuesday, August 26th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.07%. Johnson & Johnson's dividend payout ratio (DPR) is presently 55.61%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on JNJ shares. UBS Group reissued a "buy" rating and set a $190.00 price objective (up from $180.00) on shares of Johnson & Johnson in a research note on Thursday, July 17th. Piper Sandler restated an "overweight" rating on shares of Johnson & Johnson in a research report on Thursday, July 17th. Barclays raised their target price on shares of Johnson & Johnson from $165.00 to $176.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 17th. Leerink Partnrs lowered shares of Johnson & Johnson from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 13th. Finally, Sanford C. Bernstein restated a "market perform" rating on shares of Johnson & Johnson in a research report on Wednesday, April 16th. Nine investment 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 data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $174.50.

Johnson & Johnson Company Profile

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.