Agate Pass Investment Management LLC Has $4.90 Million Holdings in Johnson & Johnson (NYSE:JNJ)

Agate Pass Investment Management LLC increased its position in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 24.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 29,554 shares of the company's stock after acquiring an additional 5,711 shares during the quarter. Johnson & Johnson comprises approximately 2.1% of Agate Pass Investment Management LLC's investment portfolio, making the stock its 11th biggest holding. Agate Pass Investment Management LLC's holdings in Johnson & Johnson were worth $4,901,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of JNJ. Norges Bank bought a new position in Johnson & Johnson in the fourth quarter valued at approximately $4,390,037,000. Raymond James Financial Inc. acquired a new position in Johnson & Johnson during the fourth quarter worth $1,339,878,000. Janus Henderson Group PLC increased its holdings in Johnson & Johnson by 134.5% during the fourth quarter. Janus Henderson Group PLC now owns 7,948,508 shares of the company's stock worth $1,149,536,000 after buying an additional 4,559,147 shares during the last quarter. Northern Trust Corp increased its holdings in Johnson & Johnson by 12.3% during the fourth quarter. Northern Trust Corp now owns 30,813,175 shares of the company's stock worth $4,456,201,000 after buying an additional 3,363,235 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Johnson & Johnson during the fourth quarter worth $349,206,000. Institutional investors own 69.55% of the company's stock.

Analyst Ratings Changes

JNJ has been the subject of a number of recent research reports. Leerink Partners cut shares of Johnson & Johnson from an "outperform" rating to a "market perform" rating and reduced their target price for the company from $169.00 to $153.00 in a research report on Tuesday, May 13th. Benchmark raised shares of Johnson & Johnson to a "strong-buy" rating in a research report on Thursday, April 24th. Bank of America cut their price objective on shares of Johnson & Johnson from $171.00 to $159.00 and set a "neutral" rating for the company in a research report on Thursday, April 10th. Morgan Stanley upped their price objective on shares of Johnson & Johnson from $164.00 to $169.00 and gave the stock an "equal weight" rating in a research report on Wednesday, April 16th. Finally, Leerink Partnrs cut shares of Johnson & Johnson from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 13th. Eleven analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Johnson & Johnson has a consensus rating of "Moderate Buy" and a consensus target price of $170.88.

Johnson & Johnson Trading Up 0.9%

NYSE JNJ traded up $1.41 during trading hours on Friday, reaching $154.99. The company's stock had a trading volume of 15,529,047 shares, compared to its average volume of 7,975,488. The firm has a fifty day simple moving average of $154.31 and a 200-day simple moving average of $153.65. The stock has a market cap of $372.92 billion, a P/E ratio of 23.31, a P/E/G ratio of 2.56 and a beta of 0.42. Johnson & Johnson has a 52 week low of $140.68 and a 52 week high of $169.99. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.11 and a quick ratio of 0.86.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last issued its quarterly earnings data on Tuesday, April 15th. The company reported $2.77 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.59 by $0.18. The business had revenue of $21.89 billion during the quarter, compared to analyst estimates of $21.65 billion. Johnson & Johnson had a net margin of 18.20% and a return on equity of 34.24%. Equities analysts forecast that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Tuesday, May 27th will be issued a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 3.36%. The ex-dividend date is Tuesday, May 27th. This is a positive change from Johnson & Johnson's previous quarterly dividend of $1.24. Johnson & Johnson's dividend payout ratio (DPR) is 57.84%.

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.