Johnson & Johnson (NYSE:JNJ) Shares Bought by AGF Management Ltd.

Key Points

• AGF Management Ltd. increased its stake in Johnson & Johnson by 0.4% during Q1, now holding 575,930 shares worth approximately $95.5 million.
• Various hedge funds, including Nuveen LLC and GAMMA Investing LLC, significantly boosted their positions in Johnson & Johnson, highlighting growing institutional interest.
• Bank of America raised its price target for Johnson & Johnson from $161 to $175, while the current consensus rating for the stock is a "Moderate Buy" with an average target price of $174.50.

AGF Management Ltd. boosted its holdings in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 0.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 575,930 shares of the company's stock after buying an additional 2,054 shares during the period. AGF Management Ltd.'s holdings in Johnson & Johnson were worth $95,512,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its position in shares of Johnson & Johnson by 13.9% in the fourth quarter. Brighton Jones LLC now owns 51,876 shares of the company's stock valued at $7,502,000 after acquiring an additional 6,332 shares in the last quarter. Hudson Value Partners LLC lifted its position in shares of Johnson & Johnson by 2.5% in the fourth quarter. Hudson Value Partners LLC now owns 41,403 shares of the company's stock valued at $5,648,000 after acquiring an additional 1,022 shares in the last quarter. Sagespring Wealth Partners LLC purchased a new position in shares of Johnson & Johnson in the fourth quarter valued at approximately $3,850,000. Altman Advisors Inc. lifted its position in shares of Johnson & Johnson by 2.8% in the fourth quarter. Altman Advisors Inc. now owns 9,984 shares of the company's stock valued at $1,444,000 after acquiring an additional 273 shares in the last quarter. Finally, Stamos Capital Partners L.P. lifted its position in shares of Johnson & Johnson by 23.6% in the fourth quarter. Stamos Capital Partners L.P. now owns 55,480 shares of the company's stock valued at $8,024,000 after acquiring an additional 10,580 shares in the last quarter. 69.55% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently commented on JNJ shares. Sanford C. Bernstein reiterated a "market perform" rating on shares of Johnson & Johnson in a research report on Wednesday, April 16th. Royal Bank Of Canada lifted their price objective on Johnson & Johnson from $181.00 to $185.00 and gave the stock an "outperform" rating in a research report on Thursday, July 17th. Morgan Stanley raised their target price on Johnson & Johnson from $171.00 to $176.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 17th. Piper Sandler reissued an "overweight" rating on shares of Johnson & Johnson in a research note on Thursday, July 17th. Finally, Guggenheim reissued a "neutral" rating and set a $167.00 target price (up previously from $164.00) on shares of Johnson & Johnson in a research note on Thursday, July 17th. Nine equities research 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 company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $174.50.

Johnson & Johnson Trading Up 0.6%

Shares of Johnson & Johnson stock traded up $1.07 during trading hours on Wednesday, reaching $173.85. 610,483 shares of the company's stock were exchanged, compared to its average volume of 9,009,323. Johnson & Johnson has a 52-week low of $140.68 and a 52-week high of $174.76. The firm has a market capitalization of $418.69 billion, a price-to-earnings ratio of 18.63, a price-to-earnings-growth ratio of 2.21 and a beta of 0.41. The company has a fifty day moving average of $160.00 and a 200-day moving average of $157.90. The company has a current ratio of 1.01, a quick ratio of 0.76 and a debt-to-equity ratio of 0.50.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last released 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. The business had revenue of $23.74 billion during the quarter, compared to the consensus estimate of $22.85 billion. Johnson & Johnson had a return on equity of 32.49% and a net margin of 25.00%. The business's revenue for the quarter was up 5.8% on a year-over-year basis. During the same period in the prior year, the firm posted $2.82 EPS. Sell-side analysts forecast that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 9th. Investors of record on Tuesday, August 26th will be issued a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 3.0%. The ex-dividend date is Tuesday, August 26th. Johnson & Johnson's dividend payout ratio is currently 55.61%.

Johnson & Johnson 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.