BridgePort Financial Solutions LLC Acquires New Position in Johnson & Johnson (NYSE:JNJ)

BridgePort Financial Solutions LLC acquired a new stake in Johnson & Johnson (NYSE:JNJ - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,849 shares of the company's stock, valued at approximately $412,000.

A number of other institutional investors have also modified their holdings of JNJ. Norges Bank acquired a new position in Johnson & Johnson during the fourth quarter worth approximately $4,390,037,000. Raymond James Financial Inc. acquired a new stake in shares of Johnson & Johnson in the fourth quarter worth $1,339,878,000. Janus Henderson Group PLC increased its position in shares of Johnson & Johnson by 134.5% in the fourth quarter. Janus Henderson Group PLC now owns 7,948,508 shares of the company's stock worth $1,149,536,000 after acquiring an additional 4,559,147 shares in the last quarter. Northern Trust Corp increased its position in shares of Johnson & Johnson by 12.3% in the fourth quarter. Northern Trust Corp now owns 30,813,175 shares of the company's stock worth $4,456,201,000 after acquiring an additional 3,363,235 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Johnson & Johnson in the fourth quarter worth $349,206,000. Institutional investors and hedge funds own 69.55% of the company's stock.

Analysts Set New Price Targets

JNJ has been the subject of several recent research reports. 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 report on Thursday, April 17th. Raymond James decreased 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. Bank of America decreased their target price on shares of Johnson & Johnson from $171.00 to $159.00 and set a "neutral" rating for the company in a research note on Thursday, April 10th. Benchmark upgraded shares of Johnson & Johnson to a "strong-buy" rating in a research note on Thursday, April 24th. Finally, Royal Bank of Canada restated an "outperform" rating and issued a $181.00 target price on shares of Johnson & Johnson in a research note on Wednesday, April 16th. Eleven analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $170.88.

Johnson & Johnson Price Performance

Johnson & Johnson stock traded up $1.49 during trading hours on Friday, hitting $155.07. 4,314,565 shares of the company traded hands, compared to its average volume of 9,306,501. The firm has a market cap of $373.10 billion, a P/E ratio of 23.32, a P/E/G ratio of 2.56 and a beta of 0.42. The company has a quick ratio of 0.86, a current ratio of 1.11 and a debt-to-equity ratio of 0.43. The firm's 50-day simple moving average is $154.43 and its two-hundred day simple moving average is $153.63. Johnson & Johnson has a 1-year low of $140.68 and a 1-year high of $169.99.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last announced its quarterly earnings data on Tuesday, April 15th. The company reported $2.77 earnings per share (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 analysts' expectations of $21.65 billion. Johnson & Johnson had a net margin of 18.20% and a return on equity of 34.24%. As a group, 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. Stockholders of record on Tuesday, May 27th will be 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 dividend yield of 3.35%. The ex-dividend date is Tuesday, May 27th. Johnson & Johnson's dividend payout ratio (DPR) is 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.