Banque Pictet & Cie SA Raises Stake in Johnson & Johnson (NYSE:JNJ)

Banque Pictet & Cie SA increased its stake in Johnson & Johnson (NYSE:JNJ - Free Report) by 15.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 205,333 shares of the company's stock after acquiring an additional 26,859 shares during the quarter. Banque Pictet & Cie SA's holdings in Johnson & Johnson were worth $34,052,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in JNJ. WealthTrak Capital Management LLC bought a new position in shares of Johnson & Johnson during the 4th quarter worth approximately $26,000. Mountain Hill Investment Partners Corp. bought a new position in Johnson & Johnson during the fourth quarter worth $29,000. Conquis Financial LLC acquired a new stake in Johnson & Johnson in the fourth quarter worth $33,000. Bernard Wealth Management Corp. bought a new stake in Johnson & Johnson during the 4th quarter valued at $36,000. Finally, Runnymede Capital Advisors Inc. bought a new stake in Johnson & Johnson during the fourth quarter worth $38,000. 69.55% of the stock is currently owned by institutional investors.

Johnson & Johnson Stock Down 0.5%

Johnson & Johnson stock traded down $0.82 during trading hours on Friday, hitting $156.87. 7,866,488 shares of the stock traded hands, compared to its average volume of 8,066,975. Johnson & Johnson has a one year low of $140.68 and a one year high of $169.99. The firm's 50-day moving average price is $153.73 and its two-hundred day moving average price is $154.35. The company has a market cap of $377.44 billion, a PE ratio of 17.45, a PEG ratio of 2.15 and a beta of 0.41. The company has a current ratio of 1.26, a quick ratio of 1.03 and a debt-to-equity ratio of 0.49.

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

Johnson & Johnson Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Tuesday, May 27th were paid a dividend of $1.30 per share. The ex-dividend date was Tuesday, May 27th. This represents a $5.20 annualized dividend and a yield of 3.31%. This is a boost from Johnson & Johnson's previous quarterly dividend of $1.24. Johnson & Johnson's dividend payout ratio is currently 57.84%.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Raymond James Financial reduced their target price on shares of Johnson & Johnson from $165.00 to $162.00 and set an "outperform" rating for the company in a research note on Monday, April 14th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $181.00 price objective on shares of Johnson & Johnson in a research report on Thursday, June 5th. Leerink Partners cut shares of Johnson & Johnson from an "outperform" rating to a "market perform" rating and dropped their target price for the stock from $169.00 to $153.00 in a research report on Tuesday, May 13th. Benchmark upgraded Johnson & Johnson to a "strong-buy" rating in a research note on Thursday, April 24th. Finally, Wall Street Zen raised Johnson & Johnson from a "buy" rating to a "strong-buy" rating in a research report on Saturday, June 21st. Eleven research analysts have rated the stock with a hold rating, seven have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, Johnson & Johnson currently has a consensus rating of "Moderate Buy" and an average price target of $171.00.

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.