Allen Capital Group LLC Acquires 2,893 Shares of Johnson & Johnson (NYSE:JNJ)

Allen Capital Group LLC grew its position in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 14.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 22,903 shares of the company's stock after buying an additional 2,893 shares during the quarter. Allen Capital Group LLC's holdings in Johnson & Johnson were worth $3,798,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in JNJ. WealthTrak Capital Management LLC bought a new stake in shares of Johnson & Johnson during the fourth quarter valued at approximately $26,000. Mountain Hill Investment Partners Corp. bought a new stake in shares of Johnson & Johnson during the fourth quarter valued at approximately $29,000. Conquis Financial LLC bought a new stake in shares of Johnson & Johnson during the fourth quarter valued at approximately $33,000. Bernard Wealth Management Corp. bought a new stake in shares of Johnson & Johnson during the fourth quarter valued at approximately $36,000. Finally, Runnymede Capital Advisors Inc. bought a new stake in shares of Johnson & Johnson during the fourth quarter valued at approximately $38,000. 69.55% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Guggenheim increased their price target on shares of Johnson & Johnson from $164.00 to $167.00 and gave the company a "neutral" rating in a research note on Thursday. Bank of America increased their price objective on shares of Johnson & Johnson from $161.00 to $175.00 and gave the company a "neutral" rating in a report on Thursday. Morgan Stanley increased their price objective on shares of Johnson & Johnson from $171.00 to $176.00 and gave the company an "equal weight" rating in a report on Thursday. UBS Group restated a "buy" rating and issued a $190.00 price objective (up from $180.00) on shares of Johnson & Johnson in a report on Thursday. Finally, Leerink Partners lowered shares of Johnson & Johnson from an "outperform" rating to a "market perform" rating and cut their price objective for the company from $169.00 to $153.00 in a report on Tuesday, May 13th. Eleven research analysts have rated the stock with a hold rating, nine have issued a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $174.11.

Johnson & Johnson Stock Up 0.4%

Shares of NYSE:JNJ traded up $0.67 during midday trading on Friday, reaching $163.65. 9,764,459 shares of the company were exchanged, compared to its average volume of 8,146,241. Johnson & Johnson has a fifty-two week low of $140.68 and a fifty-two week 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 stock has a fifty day simple moving average of $154.10 and a two-hundred day simple moving average of $154.84. The firm has a market cap of $393.75 billion, a PE ratio of 17.50, a P/E/G ratio of 2.21 and a beta of 0.41.

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 business had revenue of $23.74 billion for the quarter, compared to analyst estimates of $22.85 billion. During the same period last year, the business posted $2.82 earnings per share. The firm's quarterly revenue was up 5.8% on a year-over-year basis. As a group, sell-side analysts forecast that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 9th. Investors of record on Tuesday, August 26th will be issued a dividend of $1.30 per share. The ex-dividend date of this dividend is Tuesday, August 26th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.18%. Johnson & Johnson's payout ratio is 55.61%.

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.