Johnson & Johnson $JNJ Shares Purchased by Brooklyn Investment Group

Key Points

• Brooklyn Investment Group increased its stake in Johnson & Johnson by 22.6%, acquiring an additional 3,716 shares and bringing its total holdings to approximately $3.34 million.
• Johnson & Johnson's quarterly earnings surpassed estimates, reporting $2.77 EPS on revenue of $23.74 billion, up 5.8% year-over-year.
• The company has announced a quarterly dividend of $1.30 per share, with a yield of 2.9%, to be paid on September 9th.

Brooklyn Investment Group raised its position in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 22.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 20,173 shares of the company's stock after buying an additional 3,716 shares during the quarter. Johnson & Johnson comprises approximately 0.7% of Brooklyn Investment Group's portfolio, making the stock its 23rd biggest position. Brooklyn Investment Group's holdings in Johnson & Johnson were worth $3,345,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Elios Financial Group Inc. increased its position in shares of Johnson & Johnson by 1.5% during the 1st quarter. Elios Financial Group Inc. now owns 4,496 shares of the company's stock valued at $746,000 after purchasing an additional 66 shares during the last quarter. Atlantic Family Wealth LLC increased its position in shares of Johnson & Johnson by 4.4% during the 1st quarter. Atlantic Family Wealth LLC now owns 1,603 shares of the company's stock valued at $266,000 after purchasing an additional 67 shares during the last quarter. MBA Advisors LLC increased its position in shares of Johnson & Johnson by 1.2% during the 1st quarter. MBA Advisors LLC now owns 5,553 shares of the company's stock valued at $921,000 after purchasing an additional 68 shares during the last quarter. Sovereign Financial Group Inc. grew its stake in shares of Johnson & Johnson by 1.8% during the 1st quarter. Sovereign Financial Group Inc. now owns 3,928 shares of the company's stock valued at $651,000 after acquiring an additional 69 shares during the period. Finally, Nabity Jensen Investment Management Inc grew its stake in shares of Johnson & Johnson by 1.5% during the 1st quarter. Nabity Jensen Investment Management Inc now owns 4,624 shares of the company's stock valued at $767,000 after acquiring an additional 69 shares during the period. Hedge funds and other institutional investors own 69.55% of the company's stock.

Johnson & Johnson Trading Down 0.2%

NYSE:JNJ traded down $0.38 during trading hours on Monday, hitting $176.26. The company had a trading volume of 9,283,816 shares, compared to its average volume of 8,411,460. The company has a current ratio of 1.01, a quick ratio of 0.76 and a debt-to-equity ratio of 0.50. The company has a 50-day moving average of $161.70 and a 200 day moving average of $158.60. The company has a market cap of $424.49 billion, a P/E ratio of 18.85, a P/E/G ratio of 2.25 and a beta of 0.41. Johnson & Johnson has a 1 year low of $140.68 and a 1 year high of $177.57.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last announced its quarterly earnings results on Wednesday, July 16th. The company reported $2.77 EPS for the quarter, beating the consensus estimate of $2.68 by $0.09. Johnson & Johnson had a return on equity of 32.49% and a net margin of 25.00%. The business had revenue of $23.74 billion for the quarter, compared to analyst estimates of $22.85 billion. During the same quarter in the prior year, the company posted $2.82 EPS. The company's quarterly revenue was up 5.8% on a year-over-year basis. Sell-side analysts expect that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 9th. Investors of record on Tuesday, August 26th will be paid a dividend of $1.30 per share. The ex-dividend date of this dividend is Tuesday, August 26th. This represents a $5.20 annualized dividend and a yield of 3.0%. Johnson & Johnson's dividend payout ratio is presently 55.61%.

Wall Street Analysts Forecast Growth

JNJ has been the subject of several recent analyst reports. Royal Bank Of Canada upped their price target on Johnson & Johnson from $181.00 to $185.00 and gave the stock an "outperform" rating in a research note on Thursday, July 17th. Piper Sandler reiterated an "overweight" rating on shares of Johnson & Johnson in a research report on Thursday, July 17th. Leerink Partners downgraded Johnson & Johnson from an "outperform" rating to a "market perform" rating and lowered their target price for the company from $169.00 to $153.00 in a research report on Tuesday, May 13th. Wall Street Zen downgraded Johnson & Johnson from a "strong-buy" rating to a "buy" rating in a research report on Friday, July 18th. Finally, Benchmark upgraded Johnson & Johnson to a "strong-buy" rating in a research report on Thursday, April 24th. Nine investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $174.50.

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.