Chicago Partners Investment Group LLC Raises Holdings in Johnson & Johnson (NYSE:JNJ)

Key Points

• Chicago Partners Investment Group LLC has increased its holdings in Johnson & Johnson by 11.4%, owning 20,658 shares valued at approximately $3.25 million.
• Johnson & Johnson reported a quarterly earnings per share (EPS) of $2.77, exceeding analyst expectations by $0.09 and achieving 5.8% revenue growth year-over-year.
• The company declared a quarterly dividend of $1.30 per share, resulting in a dividend yield of 3.0%.

Chicago Partners Investment Group LLC raised its position in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 11.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 20,658 shares of the company's stock after acquiring an additional 2,122 shares during the period. Chicago Partners Investment Group LLC's holdings in Johnson & Johnson were worth $3,250,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. 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 worth $42,000 after acquiring an additional 86 shares in the last quarter. von Borstel & Associates Inc. purchased a new stake in Johnson & Johnson during the 1st quarter worth $49,000. Harvest Fund Management Co. Ltd acquired a new stake in Johnson & Johnson in the 1st quarter valued at $52,000. Capital A Wealth Management LLC purchased a new position in Johnson & Johnson in the fourth quarter valued at about $50,000. Finally, Accredited Wealth Management LLC acquired a new position in shares of Johnson & Johnson during the fourth quarter worth about $58,000. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Johnson & Johnson Trading Up 0.5%

NYSE:JNJ opened at $171.41 on Friday. The company has a market cap of $412.81 billion, a PE ratio of 18.33, a P/E/G ratio of 2.17 and a beta of 0.41. The business's 50 day moving average is $158.89 and its two-hundred day moving average is $157.27. The company has a quick ratio of 0.76, a current ratio of 1.01 and a debt-to-equity ratio of 0.50. Johnson & Johnson has a 52 week low of $140.68 and a 52 week high of $172.18.

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

Johnson & Johnson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 9th. Stockholders of record on Tuesday, August 26th will be issued 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 dividend yield of 3.0%. Johnson & Johnson's dividend payout ratio is 55.61%.

Wall Street Analyst Weigh In

JNJ has been the topic of several analyst reports. Bank of America raised their target price on Johnson & Johnson from $161.00 to $175.00 and gave the company a "neutral" rating in a report on Thursday, July 17th. Morgan Stanley boosted their target price on shares of Johnson & Johnson from $171.00 to $176.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 17th. Raymond James Financial lowered their price target on shares of Johnson & Johnson from $165.00 to $162.00 and set an "outperform" rating for the company in a report on Monday, April 14th. Piper Sandler reiterated an "overweight" rating on shares of Johnson & Johnson in a report on Thursday, July 17th. Finally, Erste Group Bank upgraded Johnson & Johnson from a "hold" rating to a "buy" rating in a research note on Wednesday, July 23rd. Nine analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $174.50.

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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