Avity Investment Management Inc. Boosts Stake in Johnson & Johnson (NYSE:JNJ)

Avity Investment Management Inc. increased its position in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 1.4% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 241,654 shares of the company's stock after buying an additional 3,349 shares during the period. Johnson & Johnson accounts for 3.2% of Avity Investment Management Inc.'s holdings, making the stock its 11th biggest holding. Avity Investment Management Inc.'s holdings in Johnson & Johnson were worth $40,076,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. MRP Capital Investments LLC increased its stake in shares of Johnson & Johnson by 4.1% in the fourth quarter. MRP Capital Investments LLC now owns 1,640 shares of the company's stock worth $237,000 after acquiring an additional 65 shares during the period. Syverson Strege & Co increased its stake in shares of Johnson & Johnson by 4.9% in the fourth quarter. Syverson Strege & Co now owns 1,394 shares of the company's stock worth $202,000 after acquiring an additional 65 shares during the period. Werba Rubin Papier Wealth Management increased its stake in shares of Johnson & Johnson by 3.3% in the fourth quarter. Werba Rubin Papier Wealth Management now owns 2,080 shares of the company's stock worth $301,000 after acquiring an additional 66 shares during the period. Denali Advisors LLC increased its stake in shares of Johnson & Johnson by 1.3% in the fourth quarter. Denali Advisors LLC now owns 5,128 shares of the company's stock worth $742,000 after acquiring an additional 67 shares during the period. Finally, Sage Mountain Advisors LLC increased its stake in shares of Johnson & Johnson by 0.5% in the fourth quarter. Sage Mountain Advisors LLC now owns 14,564 shares of the company's stock worth $2,106,000 after acquiring an additional 67 shares during the period. Institutional investors own 69.55% of the company's stock.

Johnson & Johnson Price Performance

JNJ traded up $1.36 during midday trading on Friday, hitting $155.02. 5,387,625 shares of the company traded hands, compared to its average volume of 7,938,687. The company has a current ratio of 1.11, a quick ratio of 0.86 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $372.99 billion, a price-to-earnings ratio of 23.31, 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 business has a 50 day simple moving average of $153.56 and a two-hundred day simple moving average of $153.67.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last posted its quarterly earnings data on Tuesday, April 15th. The company reported $2.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.59 by $0.18. The business 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%. On average, equities analysts forecast that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Tuesday, May 27th will be paid 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 dividend yield of 3.35%. The ex-dividend date is Tuesday, May 27th. Johnson & Johnson's dividend payout ratio (DPR) is currently 57.84%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on JNJ shares. The Goldman Sachs Group upgraded shares of Johnson & Johnson from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $157.00 to $172.00 in a research note on Wednesday, April 9th. Guggenheim restated a "neutral" rating on shares of Johnson & Johnson in a research report on Wednesday, April 2nd. Leerink Partnrs lowered shares of Johnson & Johnson from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 13th. Wall Street Zen lowered shares of Johnson & Johnson from a "strong-buy" rating to a "buy" rating in a research report on Thursday, May 22nd. Finally, Bank of America dropped their price target on shares of Johnson & Johnson from $171.00 to $159.00 and set a "neutral" rating on the stock in a research report on Thursday, April 10th. Eleven investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $170.88.

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.