Allianz SE Acquires 8,629 Shares of Johnson & Johnson (NYSE:JNJ)

Key Points

• Allianz SE has increased its stake in Johnson & Johnson by 6.5%, now holding a total of 141,306 shares valued at approximately $23.43 million.
• Johnson & Johnson's stock price recently opened at $167.33, reflecting a year-over-year revenue increase of 5.8% with earnings per share beating estimates by $0.09.
• The company announced a quarterly dividend of $1.30 per share, which corresponds to an annualized dividend of $5.20 and a yield of 3.1%.

Allianz SE raised its stake in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 6.5% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 141,306 shares of the company's stock after acquiring an additional 8,629 shares during the period. Allianz SE's holdings in Johnson & Johnson were worth $23,434,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Bernard Wealth Management Corp. bought a new stake in Johnson & Johnson in the 4th quarter worth approximately $36,000. Highline Wealth Partners LLC boosted its stake in shares of Johnson & Johnson by 51.8% in the 1st quarter. Highline Wealth Partners LLC now owns 252 shares of the company's stock worth $42,000 after buying an additional 86 shares during the last quarter. von Borstel & Associates Inc. bought a new stake in shares of Johnson & Johnson in the first quarter worth $49,000. Capital A Wealth Management LLC purchased a new stake in Johnson & Johnson during the fourth quarter valued at $50,000. Finally, Harvest Fund Management Co. Ltd bought a new position in Johnson & Johnson in the first quarter valued at about $52,000. Hedge funds and other institutional investors own 69.55% of the company's stock.

Wall Street Analyst Weigh In

JNJ has been the subject of several research reports. Morgan Stanley upped their price target on shares of Johnson & Johnson from $171.00 to $176.00 and gave the company an "equal weight" rating in a research report on Thursday, July 17th. Erste Group Bank raised shares of Johnson & Johnson from a "hold" rating to a "buy" rating in a report on Wednesday, July 23rd. Raymond James Financial dropped their price target on shares of Johnson & Johnson from $165.00 to $162.00 and set an "outperform" rating on the stock in a research note on Monday, April 14th. Guggenheim restated a "neutral" rating and issued a $167.00 price objective (up from $164.00) on shares of Johnson & Johnson in a research note on Thursday, July 17th. Finally, Sanford C. Bernstein reaffirmed a "market perform" rating on shares of Johnson & Johnson in a report on Wednesday, April 16th. Nine research analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $174.50.

Johnson & Johnson Stock Up 1.6%

Johnson & Johnson stock opened at $167.33 on Friday. The business has a fifty day moving average of $157.46 and a two-hundred day moving average of $156.68. Johnson & Johnson has a twelve month low of $140.68 and a twelve month high of $169.99. The company has a quick ratio of 0.76, a current ratio of 1.01 and a debt-to-equity ratio of 0.50. The firm has a market cap of $402.99 billion, a P/E ratio of 17.90, a P/E/G ratio of 2.13 and a beta of 0.41.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last issued its quarterly earnings results on Wednesday, July 16th. The company reported $2.77 earnings per share for the quarter, topping analysts' consensus estimates of $2.68 by $0.09. The business had revenue of $23.74 billion for the quarter, compared to analyst estimates of $22.85 billion. Johnson & Johnson had a return on equity of 32.49% and a net margin of 25.00%. The company's revenue was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.82 earnings per share. On average, analysts forecast that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 9th. Investors of record on Tuesday, August 26th will be given a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend is Tuesday, August 26th. Johnson & Johnson's dividend payout ratio is presently 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.

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