Artemis Investment Management LLP Invests $5.04 Million in Johnson & Johnson (NYSE:JNJ)

Artemis Investment Management LLP bought a new position in Johnson & Johnson (NYSE:JNJ - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The firm bought 30,360 shares of the company's stock, valued at approximately $5,035,000.

Other hedge funds also recently made changes to their positions in the company. Canvas Wealth Advisors LLC boosted its holdings in Johnson & Johnson by 34.5% in the 1st quarter. Canvas Wealth Advisors LLC now owns 3,269 shares of the company's stock worth $516,000 after buying an additional 838 shares during the period. Illinois Municipal Retirement Fund boosted its stake in shares of Johnson & Johnson by 4.5% in the first quarter. Illinois Municipal Retirement Fund now owns 385,653 shares of the company's stock worth $63,957,000 after acquiring an additional 16,763 shares during the period. Old North State Wealth Management LLC grew its position in shares of Johnson & Johnson by 1.4% during the first quarter. Old North State Wealth Management LLC now owns 6,486 shares of the company's stock worth $1,076,000 after purchasing an additional 92 shares in the last quarter. Transcend Capital Advisors LLC lifted its holdings in Johnson & Johnson by 4.2% in the 1st quarter. Transcend Capital Advisors LLC now owns 59,664 shares of the company's stock worth $9,895,000 after purchasing an additional 2,422 shares in the last quarter. Finally, Wolff Financial Management LLC bought a new position in Johnson & Johnson in the 1st quarter worth approximately $225,000. 69.55% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on JNJ. Royal Bank Of Canada reissued an "outperform" rating and issued a $181.00 target price on shares of Johnson & Johnson in a report on Thursday, June 5th. Wall Street Zen upgraded shares of Johnson & Johnson from a "buy" rating to a "strong-buy" rating in a research note on Saturday, June 21st. Bank of America reduced their target price on Johnson & Johnson from $171.00 to $159.00 and set a "neutral" rating on the stock in a report on Thursday, April 10th. Morgan Stanley increased their target price on Johnson & Johnson from $164.00 to $169.00 and gave the company an "equal weight" rating in a research report on Wednesday, April 16th. Finally, Barclays dropped their price objective on shares of Johnson & Johnson from $166.00 to $165.00 and set an "equal weight" rating for the company in a research note on Thursday, April 17th. Eleven research analysts have rated the stock with a hold rating, seven have issued a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $170.88.

Johnson & Johnson Price Performance

Shares of NYSE JNJ traded up $0.17 during trading on Monday, hitting $152.58. The company had a trading volume of 9,000,581 shares, compared to its average volume of 8,022,908. 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 $153.75 and a two-hundred day simple moving average of $153.81. The firm has a market capitalization of $367.12 billion, a price-to-earnings ratio of 16.97, a price-to-earnings-growth ratio of 2.31 and a beta of 0.42.

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

Johnson & Johnson Increases Dividend

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

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.