Allium Financial Advisors LLC Makes New $584,000 Investment in Johnson & Johnson (NYSE:JNJ)

Key Points

• Allium Financial Advisors LLC invested approximately $584,000 in Johnson & Johnson, acquiring 3,521 shares in the first quarter.
• Johnson & Johnson reported a quarterly earnings per share of $2.77, exceeding the consensus estimate of $2.68, and had revenues of $23.74 billion.
• The company declared a quarterly dividend of $1.30 per share, which translates to an annual yield of 3.09%.

Allium Financial Advisors LLC acquired a new position in Johnson & Johnson (NYSE:JNJ - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 3,521 shares of the company's stock, valued at approximately $584,000.

Several other hedge funds and other institutional investors have also bought and sold shares of JNJ. MBA Advisors LLC raised its position in Johnson & Johnson by 1.2% during the first quarter. MBA Advisors LLC now owns 5,553 shares of the company's stock valued at $921,000 after purchasing an additional 68 shares during the period. Sovereign Financial Group Inc. boosted its position in shares of Johnson & Johnson by 1.8% in the 1st quarter. Sovereign Financial Group Inc. now owns 3,928 shares of the company's stock worth $651,000 after purchasing an additional 69 shares in the last quarter. Nabity Jensen Investment Management Inc boosted its position in shares of Johnson & Johnson by 1.5% in the 1st quarter. Nabity Jensen Investment Management Inc now owns 4,624 shares of the company's stock worth $767,000 after purchasing an additional 69 shares in the last quarter. Jackson Grant Investment Advisers Inc. raised its stake in Johnson & Johnson by 0.5% in the 1st quarter. Jackson Grant Investment Advisers Inc. now owns 12,970 shares of the company's stock worth $2,151,000 after acquiring an additional 69 shares during the last quarter. Finally, Almanack Investment Partners LLC. raised its stake in shares of Johnson & Johnson by 1.1% during the 1st quarter. Almanack Investment Partners LLC. now owns 6,633 shares of the company's stock valued at $1,100,000 after buying an additional 71 shares during the last quarter. Hedge funds and other institutional investors own 69.55% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on JNJ. Barclays raised their target price on Johnson & Johnson from $165.00 to $176.00 and gave the company an "equal weight" rating in a research report on Thursday, July 17th. Erste Group Bank raised Johnson & Johnson from a "hold" rating to a "buy" rating in a research report on Wednesday, July 23rd. The Goldman Sachs Group raised Johnson & Johnson from a "neutral" rating to a "buy" rating and increased their target price for the company from $157.00 to $172.00 in a report on Wednesday, April 9th. Wall Street Zen downgraded shares of Johnson & Johnson from a "strong-buy" rating to a "buy" rating in a research note on Friday, July 18th. Finally, Morgan Stanley raised their price objective 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. Nine equities 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $174.50.

Johnson & Johnson Stock Performance

Shares of NYSE JNJ traded up $0.32 during midday trading on Wednesday, hitting $168.43. 2,096,435 shares of the company's stock traded hands, compared to its average volume of 9,035,375. The firm has a fifty day moving average of $156.65 and a 200 day moving average of $156.22. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.76 and a current ratio of 1.01. The stock has a market capitalization of $405.26 billion, a price-to-earnings ratio of 18.00, a price-to-earnings-growth ratio of 2.12 and a beta of 0.41. Johnson & Johnson has a 1 year low of $140.68 and a 1 year high of $169.99.

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

Johnson & Johnson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 9th. Stockholders of record on Tuesday, August 26th will be given a dividend of $1.30 per share. The ex-dividend date of this dividend is Tuesday, August 26th. This represents a $5.20 annualized dividend and a dividend yield of 3.09%. 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.