Johnson & Johnson (NYSE:JNJ) Shares Purchased by Cullen Frost Bankers Inc.

Cullen Frost Bankers Inc. boosted its holdings in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 0.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 344,647 shares of the company's stock after purchasing an additional 2,223 shares during the period. Johnson & Johnson comprises approximately 0.8% of Cullen Frost Bankers Inc.'s investment portfolio, making the stock its 29th biggest holding. Cullen Frost Bankers Inc.'s holdings in Johnson & Johnson were worth $57,156,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of 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 raised its position in shares of Johnson & Johnson by 2.8% in the fourth quarter. Geode Capital Management LLC now owns 57,667,920 shares of the company's stock worth $8,321,881,000 after acquiring an additional 1,561,036 shares during the period. 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 worth $4,456,201,000 after acquiring an additional 3,363,235 shares during the period. Norges Bank acquired a new position in shares of Johnson & Johnson in the fourth quarter worth about $4,390,037,000. Finally, Wellington Management Group LLP raised its position in shares of Johnson & Johnson by 1.8% in the fourth 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. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Johnson & Johnson Price Performance

NYSE JNJ traded up $0.67 during trading hours on Friday, hitting $163.65. 9,764,459 shares of the company's stock traded hands, compared to its average volume of 8,146,241. The firm's 50-day moving average is $154.10 and its 200-day moving average is $154.84. Johnson & Johnson has a 52-week low of $140.68 and a 52-week high of $169.99. 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 company has a market capitalization of $393.75 billion, a PE ratio of 17.50, a PEG ratio of 2.21 and a beta of 0.41.

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 for the quarter, beating the consensus estimate of $2.68 by $0.09. Johnson & Johnson had a net margin of 25.00% and a return on equity of 33.07%. The business had revenue of $23.74 billion during the quarter, compared to analysts' expectations of $22.85 billion. During the same quarter in the prior year, the company posted $2.82 EPS. The business's revenue for the quarter was up 5.8% on a year-over-year basis. Equities analysts forecast that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend is Tuesday, August 26th. This represents a $5.20 annualized dividend and a dividend yield of 3.18%. Johnson & Johnson's dividend payout ratio (DPR) is 55.61%.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. UBS Group reiterated a "buy" rating and issued a $190.00 price objective (up previously from $180.00) on shares of Johnson & Johnson in a research report on Thursday. Bank of America boosted their target price on shares of Johnson & Johnson from $161.00 to $175.00 and gave the stock a "neutral" rating in a research note on Thursday. Benchmark raised shares of Johnson & Johnson to a "strong-buy" rating in a research note on Thursday, April 24th. Raymond James Financial cut their target price on shares of Johnson & Johnson from $165.00 to $162.00 and set an "outperform" rating for the company in a research note on Monday, April 14th. Finally, Leerink Partners cut shares of Johnson & Johnson from an "outperform" rating to a "market perform" rating and cut their target price for the stock from $169.00 to $153.00 in a research note on Tuesday, May 13th. Eleven analysts have rated the stock with a hold rating, nine have given a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $174.11.

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.