Cardinal Capital Management grew its stake in Johnson & Johnson (NYSE:JNJ - Free Report) by 9.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 113,144 shares of the company's stock after buying an additional 9,577 shares during the period. Johnson & Johnson accounts for 2.9% of Cardinal Capital Management's investment portfolio, making the stock its 4th largest holding. Cardinal Capital Management's holdings in Johnson & Johnson were worth $18,764,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently bought and sold shares of JNJ. WealthTrak Capital Management LLC acquired a new stake in Johnson & Johnson during the 4th quarter worth $26,000. Mountain Hill Investment Partners Corp. acquired a new position in Johnson & Johnson in the 4th quarter valued at about $29,000. Conquis Financial LLC purchased a new stake in Johnson & Johnson during the 4th quarter valued at approximately $33,000. Bernard Wealth Management Corp. purchased a new position in shares of Johnson & Johnson in the 4th quarter valued at approximately $36,000. Finally, Highline Wealth Partners LLC increased its holdings in shares of Johnson & Johnson by 51.8% in the first quarter. Highline Wealth Partners LLC now owns 252 shares of the company's stock valued at $42,000 after purchasing an additional 86 shares during the period. 69.55% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
JNJ has been the subject of a number of analyst reports. The Goldman Sachs Group upgraded shares of Johnson & Johnson from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $157.00 to $172.00 in a research report on Wednesday, April 9th. Leerink Partnrs downgraded shares of Johnson & Johnson from a "strong-buy" rating to a "hold" rating 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 note on Thursday, May 22nd. Morgan Stanley lifted their price target on Johnson & Johnson from $164.00 to $169.00 and gave the company an "equal weight" rating in a research note on Wednesday, April 16th. Finally, Guggenheim reiterated a "neutral" rating on shares of Johnson & Johnson in a research report on Wednesday, April 2nd. Eleven research 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 company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $170.88.
Read Our Latest Report on Johnson & Johnson
Johnson & Johnson Stock Down 1.8%
JNJ opened at $152.38 on Wednesday. The company has a market cap of $366.65 billion, a PE ratio of 16.95, a price-to-earnings-growth ratio of 2.35 and a beta of 0.42. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.03 and a current ratio of 1.26. Johnson & Johnson has a 1 year low of $140.68 and a 1 year high of $169.99. The firm has a 50 day moving average price of $154.03 and a 200 day moving average price of $153.69.
Johnson & Johnson (NYSE:JNJ - Get Free Report) last posted its 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. Johnson & Johnson had a net margin of 24.42% and a return on equity of 33.46%. The business had revenue of $21.89 billion for the quarter, compared to analyst estimates of $21.65 billion. Sell-side analysts expect that Johnson & Johnson will post 10.58 earnings per share for the current year.
Johnson & Johnson Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Tuesday, May 27th were given a $1.30 dividend. This is an increase from Johnson & Johnson's previous quarterly dividend of $1.24. The ex-dividend date of this dividend was Tuesday, May 27th. This represents a $5.20 annualized dividend and a yield of 3.41%. Johnson & Johnson's dividend payout ratio (DPR) is 57.84%.
About Johnson & Johnson
(
Free Report)
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.
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