Bennett Associates Wealth Management Takes $593,000 Position in Johnson & Johnson (NYSE:JNJ)

Bennett Associates Wealth Management purchased a new position in shares of Johnson & Johnson (NYSE:JNJ - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 3,575 shares of the company's stock, valued at approximately $593,000. Johnson & Johnson comprises 0.5% of Bennett Associates Wealth Management's portfolio, making the stock its 22nd biggest position.

A number of other institutional investors and hedge funds have also recently bought and sold shares of JNJ. Lantz Financial LLC boosted its holdings in Johnson & Johnson by 3.3% in the 1st quarter. Lantz Financial LLC now owns 11,974 shares of the company's stock valued at $1,986,000 after purchasing an additional 377 shares during the last quarter. Sulzberger Capital Advisors Inc. acquired a new position in Johnson & Johnson in the 4th quarter valued at about $453,000. Oregon Pacific Wealth Management LLC acquired a new position in Johnson & Johnson in the 4th quarter valued at about $949,000. Horan Securities Inc. boosted its holdings in Johnson & Johnson by 1.3% in the 4th quarter. Horan Securities Inc. now owns 7,178 shares of the company's stock valued at $1,038,000 after purchasing an additional 90 shares during the last quarter. Finally, Strategic Financial Concepts LLC boosted its holdings in Johnson & Johnson by 57.9% in the 4th quarter. Strategic Financial Concepts LLC now owns 3,467 shares of the company's stock valued at $501,000 after purchasing an additional 1,271 shares during the last quarter. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Johnson & Johnson Stock Down 0.6%

JNJ traded down $0.95 during trading hours on Tuesday, hitting $154.45. 8,205,196 shares of the company's stock were exchanged, compared to its average volume of 7,947,144. Johnson & Johnson has a 12-month low of $140.68 and a 12-month high of $169.99. The firm has a 50 day moving average of $154.19 and a 200 day moving average of $153.67. The firm has a market cap of $371.63 billion, a P/E ratio of 23.23, a price-to-earnings-growth ratio of 2.56 and a beta of 0.42. The company has a current ratio of 1.11, a quick ratio of 0.86 and a debt-to-equity ratio of 0.43.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last announced its quarterly earnings data on Tuesday, April 15th. The company reported $2.77 EPS for the quarter, beating analysts' consensus estimates of $2.59 by $0.18. Johnson & Johnson had a net margin of 18.20% and a return on equity of 34.24%. The company had revenue of $21.89 billion for the quarter, compared to the consensus estimate of $21.65 billion. Analysts predict that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Tuesday, May 27th will be given a $1.30 dividend. The ex-dividend date of this dividend is Tuesday, May 27th. This is an increase from Johnson & Johnson's previous quarterly dividend of $1.24. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.37%. Johnson & Johnson's dividend payout ratio is currently 57.84%.

Analyst Upgrades and Downgrades

JNJ has been the topic of several recent analyst reports. Barclays decreased their target price on shares of Johnson & Johnson from $166.00 to $165.00 and set an "equal weight" rating on the stock in a report on Thursday, April 17th. Leerink Partnrs lowered shares of Johnson & Johnson from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 13th. Leerink Partners lowered shares of Johnson & Johnson from an "outperform" rating to a "market perform" rating and decreased their price objective for the stock from $169.00 to $153.00 in a report on Tuesday, May 13th. Wall Street Zen lowered shares of Johnson & Johnson from a "strong-buy" rating to a "buy" rating in a report on Thursday, May 22nd. Finally, Bank of America decreased their price objective on shares of Johnson & Johnson from $171.00 to $159.00 and set a "neutral" rating on the stock in a report on Thursday, April 10th. Eleven analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Johnson & Johnson presently 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.