Cary Street Partners Financial LLC Acquires 17,510 Shares of Johnson & Johnson (NYSE:JNJ)

Key Points

• Cary Street Partners Financial LLC has increased its holdings in Johnson & Johnson by 15.6%, acquiring an additional 17,510 shares, bringing their total to 129,965 shares valued at $21,553,000.
• Analysts have varied ratings for Johnson & Johnson, with many adjusting their price targets: Royal Bank of Canada raised its target from $181 to $185, while Raymond James Financial cut its target from $165 to $162.
• Johnson & Johnson announced a quarterly dividend of $1.30, representing an annualized amount of $5.20, which translates to a 3.0% dividend yield for shareholders of record on August 26th.

Cary Street Partners Financial LLC boosted its holdings in Johnson & Johnson (NYSE:JNJ - Free Report) by 15.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 129,965 shares of the company's stock after purchasing an additional 17,510 shares during the period. Johnson & Johnson makes up 0.7% of Cary Street Partners Financial LLC's portfolio, making the stock its 28th largest position. Cary Street Partners Financial LLC's holdings in Johnson & Johnson were worth $21,553,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Bernard Wealth Management Corp. bought a new stake in Johnson & Johnson in the fourth quarter worth $36,000. Highline Wealth Partners LLC increased its position 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 acquiring an additional 86 shares during the period. von Borstel & Associates Inc. purchased a new position in shares of Johnson & Johnson in the first quarter valued at about $49,000. Harvest Fund Management Co. Ltd purchased a new position in shares of Johnson & Johnson in the first quarter valued at about $52,000. Finally, Capital A Wealth Management LLC purchased a new position in shares of Johnson & Johnson in the fourth quarter valued at about $50,000. 69.55% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Leerink Partnrs cut shares of Johnson & Johnson from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 13th. Royal Bank Of Canada boosted their price objective on shares of Johnson & Johnson from $181.00 to $185.00 and gave the company an "outperform" rating in a research report on Thursday, July 17th. Wall Street Zen cut shares of Johnson & Johnson from a "strong-buy" rating to a "buy" rating in a research report on Friday, July 18th. Barclays boosted their price objective on shares of Johnson & Johnson from $165.00 to $176.00 and gave the company an "equal weight" rating in a research report on Thursday, July 17th. Finally, Raymond James Financial reduced their price target on shares of Johnson & Johnson from $165.00 to $162.00 and set an "outperform" rating on the stock in a research report on Monday, April 14th. Nine investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Johnson & Johnson has an average rating of "Moderate Buy" and an average price target of $174.50.

Johnson & Johnson Trading Up 2.2%

NYSE:JNJ opened at $171.08 on Tuesday. Johnson & Johnson has a one year low of $140.68 and a one year high of $171.19. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.01 and a quick ratio of 0.76. The company's 50-day simple moving average is $157.82 and its 200 day simple moving average is $156.91. The firm has a market capitalization of $412.02 billion, a P/E ratio of 18.30, a PEG ratio of 2.13 and a beta of 0.41.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last posted its quarterly earnings data on Wednesday, July 16th. The company reported $2.77 EPS for the quarter, topping the consensus estimate of $2.68 by $0.09. Johnson & Johnson had a net margin of 25.00% and a return on equity of 32.49%. 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 previous year, the firm posted $2.82 earnings per share. Johnson & Johnson's quarterly revenue was up 5.8% on a year-over-year basis. As a group, analysts forecast that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Announces Dividend

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

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.

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