Alpine Bank Wealth Management Makes New Investment in Johnson & Johnson (NYSE:JNJ)

Alpine Bank Wealth Management bought a new stake in Johnson & Johnson (NYSE:JNJ - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 7,908 shares of the company's stock, valued at approximately $1,311,000.

A number of other hedge funds have also bought and sold shares of the business. Norges Bank acquired a new position in Johnson & Johnson in the 4th quarter valued at $4,390,037,000. Raymond James Financial Inc. bought a new position in shares of Johnson & Johnson in the fourth quarter worth $1,339,878,000. GAMMA Investing LLC raised its stake in Johnson & Johnson by 24,450.4% in the first quarter. GAMMA Investing LLC now owns 7,215,367 shares of the company's stock valued at $1,196,596,000 after purchasing an additional 7,185,977 shares in the last quarter. Janus Henderson Group PLC lifted its position 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 purchasing an additional 4,559,147 shares during the period. Finally, Northern Trust Corp grew its stake 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 in the last quarter. 69.55% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on JNJ shares. Leerink Partners cut shares of Johnson & Johnson from an "outperform" rating to a "market perform" rating and dropped their target price for the company from $169.00 to $153.00 in a research report on Tuesday, May 13th. Sanford C. Bernstein restated a "market perform" rating on shares of Johnson & Johnson in a research report on Wednesday, April 16th. Morgan Stanley raised their target price on Johnson & Johnson from $164.00 to $169.00 and gave the company an "equal weight" rating in a report on Wednesday, April 16th. Raymond James Financial lowered their price target on Johnson & Johnson from $165.00 to $162.00 and set an "outperform" rating for the company in a report on Monday, April 14th. Finally, Leerink Partnrs downgraded Johnson & Johnson from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 13th. Eleven investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, Johnson & Johnson presently has an average rating of "Moderate Buy" and an average price target of $170.88.

Johnson & Johnson Stock Performance

NYSE:JNJ opened at $152.25 on Friday. The stock's 50-day moving average is $153.85 and its 200-day moving average is $153.69. Johnson & Johnson has a 1-year low of $140.68 and a 1-year high of $169.99. The company has a current ratio of 1.26, a quick ratio of 1.03 and a debt-to-equity ratio of 0.49. The stock has a market cap of $366.33 billion, a P/E ratio of 16.94, a price-to-earnings-growth ratio of 2.31 and a beta of 0.42.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last posted its earnings results on Tuesday, April 15th. The company reported $2.77 earnings per share for the quarter, topping analysts' consensus estimates of $2.59 by $0.18. The firm had revenue of $21.89 billion for the quarter, compared to analyst estimates of $21.65 billion. Johnson & Johnson had a net margin of 24.42% and a return on equity of 33.46%. Equities research analysts anticipate that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Tuesday, May 27th were issued a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 3.42%. This is an increase from Johnson & Johnson's previous quarterly dividend of $1.24. The ex-dividend date was Tuesday, May 27th. Johnson & Johnson's dividend payout ratio is presently 57.84%.

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.

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