Ameriflex Group Inc. Buys Shares of 3,616 Johnson & Johnson (NYSE:JNJ)

Ameriflex Group Inc. bought a new position in shares of Johnson & Johnson (NYSE:JNJ - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,616 shares of the company's stock, valued at approximately $550,000.

Several other hedge funds have also bought and sold shares of JNJ. WealthTrak Capital Management LLC purchased a new stake in Johnson & Johnson in the 4th quarter worth $26,000. Mountain Hill Investment Partners Corp. purchased a new stake in Johnson & Johnson in the 4th quarter worth $29,000. Bay Harbor Wealth Management LLC purchased a new stake in Johnson & Johnson in the 4th quarter worth $32,000. Conquis Financial LLC bought a new stake in Johnson & Johnson in the fourth quarter worth $33,000. Finally, Bernard Wealth Management Corp. bought a new stake in Johnson & Johnson in the fourth quarter worth $36,000. Hedge funds and other institutional investors own 69.55% of the company's stock.

Johnson & Johnson Trading Down 0.5%

JNJ stock traded down $0.72 during trading on Wednesday, hitting $152.53. The company had a trading volume of 8,423,157 shares, compared to its average volume of 7,963,089. The firm has a market capitalization of $367.00 billion, a P/E ratio of 22.94, a PEG ratio of 2.56 and a beta of 0.42. Johnson & Johnson has a 52-week low of $140.68 and a 52-week high of $169.99. The company has a 50 day simple moving average of $154.85 and a 200-day simple moving average of $153.65. The company has a quick ratio of 0.86, a current ratio of 1.11 and a debt-to-equity ratio of 0.43.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last posted its quarterly earnings results on Tuesday, April 15th. The company reported $2.77 EPS for the quarter, topping the consensus estimate of $2.59 by $0.18. The company had revenue of $21.89 billion for the quarter, compared to the consensus estimate of $21.65 billion. Johnson & Johnson had a net margin of 18.20% and a return on equity of 34.24%. As a group, research analysts forecast that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Tuesday, May 27th will be given a dividend of $1.30 per share. The ex-dividend date of this dividend is Tuesday, May 27th. This is a positive change from Johnson & Johnson's previous quarterly dividend of $1.24. This represents a $5.20 dividend on an annualized basis and a yield of 3.41%. Johnson & Johnson's payout ratio is 57.84%.

Analyst Upgrades and Downgrades

JNJ has been the topic of a number of recent research reports. Raymond James decreased 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. Royal Bank of Canada reaffirmed an "outperform" rating and set a $181.00 price target on shares of Johnson & Johnson in a research note on Wednesday, April 16th. Leerink Partners downgraded shares of Johnson & Johnson from an "outperform" rating to a "market perform" rating and decreased their price target for the company from $169.00 to $153.00 in a research note on Tuesday, May 13th. Leerink Partnrs lowered Johnson & Johnson from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 13th. Finally, Morgan Stanley raised their price objective on Johnson & Johnson from $164.00 to $169.00 and gave the company an "equal weight" rating in a research note on Wednesday, April 16th. Eleven research analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Johnson & Johnson has a consensus rating of "Moderate Buy" and a consensus target price of $170.88.

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.