Correct Capital Wealth Management Purchases 3,063 Shares of Johnson & Johnson (NYSE:JNJ)

Correct Capital Wealth Management raised its position in Johnson & Johnson (NYSE:JNJ - Free Report) by 27.5% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 14,187 shares of the company's stock after buying an additional 3,063 shares during the period. Johnson & Johnson accounts for 0.4% of Correct Capital Wealth Management's investment portfolio, making the stock its 26th biggest holding. Correct Capital Wealth Management's holdings in Johnson & Johnson were worth $2,353,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. raised its position in Johnson & Johnson by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 232,792,559 shares of the company's stock worth $33,666,460,000 after acquiring an additional 1,772,706 shares during the period. Geode Capital Management LLC boosted its stake in Johnson & Johnson by 2.8% in the fourth quarter. Geode Capital Management LLC now owns 57,667,920 shares of the company's stock valued at $8,321,881,000 after acquiring an additional 1,561,036 shares during the last quarter. Northern Trust Corp raised its position in shares of Johnson & Johnson by 12.3% in the fourth quarter. Northern Trust Corp now owns 30,813,175 shares of the company's stock valued at $4,456,201,000 after purchasing an additional 3,363,235 shares during the period. Norges Bank bought a new stake in shares of Johnson & Johnson in the fourth quarter valued at approximately $4,390,037,000. Finally, Wellington Management Group LLP increased its holdings in Johnson & Johnson by 1.8% during the 4th quarter. Wellington Management Group LLP now owns 24,356,572 shares of the company's stock worth $3,522,447,000 after acquiring an additional 431,205 shares during the period. Institutional investors own 69.55% of the company's stock.

Johnson & Johnson Trading Down 0.5%

JNJ traded down $0.82 during trading on Friday, hitting $156.87. 7,866,488 shares of the stock traded hands, compared to its average volume of 8,077,942. The firm has a market capitalization of $377.44 billion, a P/E ratio of 17.45, a price-to-earnings-growth ratio of 2.14 and a beta of 0.41. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.26 and a quick ratio of 1.03. The firm has a 50-day moving average of $153.75 and a 200 day moving average of $154.49. Johnson & Johnson has a 12-month low of $140.68 and a 12-month high of $169.99.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last issued its quarterly earnings data on Tuesday, April 15th. The company reported $2.77 EPS for the quarter, topping 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 during the quarter, compared to analyst estimates of $21.65 billion. Equities research analysts anticipate that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Tuesday, May 27th were issued a $1.30 dividend. The ex-dividend date was Tuesday, May 27th. This is a positive change from Johnson & Johnson's previous quarterly dividend of $1.24. This represents a $5.20 annualized dividend and a yield of 3.31%. Johnson & Johnson's dividend payout ratio is 57.84%.

Wall Street Analysts Forecast Growth

JNJ has been the topic of a number of analyst reports. Morgan Stanley reaffirmed an "underperform" rating on shares of Johnson & Johnson in a report on Thursday. Raymond James Financial decreased their target price on shares of Johnson & Johnson from $165.00 to $162.00 and set an "outperform" rating on the stock in a report on Monday, April 14th. 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. Benchmark raised shares of Johnson & Johnson to a "strong-buy" rating in a report on Thursday, April 24th. Finally, Leerink Partnrs lowered shares of Johnson & Johnson from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 13th. Eleven investment analysts have rated the stock with a hold rating, seven have given a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $171.00.

Johnson & Johnson Company 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.