Johnson & Johnson (NYSE:JNJ) is Commonwealth Retirement Investments LLC's 7th Largest Position

Key Points

• Commonwealth Retirement Investments LLC increased its stake in Johnson & Johnson by 11.0%, bringing its total ownership to 51,988 shares valued at approximately $8.62 million.
• Multiple institutional investors have significantly boosted their investments in the company, with GAMMA Investing LLC increasing its stake by over 24,450% in the last quarter.
• Johnson & Johnson reported $23.74 billion in revenue for the quarter and a quarterly earnings per share of $2.77, exceeding analysts' estimates.

Commonwealth Retirement Investments LLC raised its holdings in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 11.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 51,988 shares of the company's stock after buying an additional 5,147 shares during the quarter. Johnson & Johnson comprises about 3.5% of Commonwealth Retirement Investments LLC's portfolio, making the stock its 7th biggest holding. Commonwealth Retirement Investments LLC's holdings in Johnson & Johnson were worth $8,622,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC lifted its holdings in shares of Johnson & Johnson by 24,450.4% in the first quarter. GAMMA Investing LLC now owns 7,215,367 shares of the company's stock valued at $1,196,596,000 after purchasing an additional 7,185,977 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Johnson & Johnson by 26.4% during the 1st quarter. Bank of New York Mellon Corp now owns 23,182,464 shares of the company's stock valued at $3,844,580,000 after purchasing an additional 4,842,582 shares in the last quarter. Janus Henderson Group PLC increased its position in shares of Johnson & Johnson by 134.5% in the 4th quarter. Janus Henderson Group PLC now owns 7,948,508 shares of the company's stock worth $1,149,536,000 after purchasing an additional 4,559,147 shares during the last quarter. Northern Trust Corp raised its holdings in shares of Johnson & Johnson by 12.3% during the fourth quarter. Northern Trust Corp now owns 30,813,175 shares of the company's stock worth $4,456,201,000 after purchasing an additional 3,363,235 shares during the period. Finally, Pacer Advisors Inc. boosted its position in Johnson & Johnson by 1,382.0% during the 1st quarter. Pacer Advisors Inc. now owns 3,030,084 shares of the company's stock valued at $502,509,000 after purchasing an additional 2,825,626 shares during the period. Institutional investors and hedge funds own 69.55% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on JNJ shares. Royal Bank Of Canada upped their price target on shares of Johnson & Johnson from $181.00 to $185.00 and gave the stock an "outperform" rating in a research note on Thursday, July 17th. Raymond James Financial decreased their target price on Johnson & Johnson from $165.00 to $162.00 and set an "outperform" rating for the company in a research report on Monday, April 14th. Sanford C. Bernstein reiterated a "market perform" rating on shares of Johnson & Johnson in a report on Wednesday, April 16th. Leerink Partners lowered Johnson & Johnson from an "outperform" rating to a "market perform" rating and decreased their price objective for the stock from $169.00 to $153.00 in a report on Tuesday, May 13th. Finally, The Goldman Sachs Group raised shares of Johnson & Johnson from a "neutral" rating to a "buy" rating and upped their target price for the stock from $157.00 to $172.00 in a report on Wednesday, April 9th. Nine research 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $174.50.

Johnson & Johnson Stock Performance

Johnson & Johnson stock traded down $0.02 during midday trading on Wednesday, hitting $170.72. The company's stock had a trading volume of 8,955,892 shares, compared to its average volume of 9,226,614. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.01 and a quick ratio of 0.76. Johnson & Johnson has a 1-year low of $140.68 and a 1-year high of $172.18. The company has a market cap of $411.14 billion, a price-to-earnings ratio of 18.26, a PEG ratio of 2.17 and a beta of 0.41. The company has a 50-day moving average price of $158.17 and a two-hundred day moving average price of $157.00.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last announced its quarterly earnings results on Wednesday, July 16th. The company reported $2.77 earnings per share (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 company had revenue of $23.74 billion during the quarter, compared to the consensus estimate of $22.85 billion. During the same period in the prior year, the business earned $2.82 earnings per share. The company's revenue for the quarter was up 5.8% compared to the same quarter last year. As a group, sell-side analysts predict that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

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

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.