Cvfg LLC purchased a new position in Johnson & Johnson (NYSE:JNJ - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 2,089 shares of the company's stock, valued at approximately $346,000.
A number of other hedge funds have also recently made changes to their positions in the stock. Tallon Kerry Patrick acquired a new position in shares of Johnson & Johnson during the fourth quarter worth $290,000. Brighton Jones LLC grew its stake in Johnson & Johnson by 13.9% during the 4th quarter. Brighton Jones LLC now owns 51,876 shares of the company's stock worth $7,502,000 after buying an additional 6,332 shares during the last quarter. Union Bancaire Privee UBP SA acquired a new position in Johnson & Johnson during the 4th quarter valued at about $85,886,000. Hudson Value Partners LLC raised its stake in Johnson & Johnson by 2.5% in the fourth quarter. Hudson Value Partners LLC now owns 41,403 shares of the company's stock valued at $5,648,000 after buying an additional 1,022 shares during the last quarter. Finally, Sigma Investment Counselors Inc. boosted its holdings in Johnson & Johnson by 3.5% in the fourth quarter. Sigma Investment Counselors Inc. now owns 11,355 shares of the company's stock worth $1,642,000 after acquiring an additional 389 shares in the last quarter. 69.55% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several research firms have recently issued reports on JNJ. The Goldman Sachs Group upgraded shares of Johnson & Johnson from a "neutral" rating to a "buy" rating and upped their price objective for the company from $157.00 to $172.00 in a report on Wednesday, April 9th. Morgan Stanley upped their price target on shares of Johnson & Johnson from $164.00 to $169.00 and gave the company an "equal weight" rating in a research note on Wednesday, April 16th. Leerink Partners downgraded shares of Johnson & Johnson from an "outperform" rating to a "market perform" rating and lowered their price objective for the stock from $169.00 to $153.00 in a research note on Tuesday, May 13th. Bank of America cut their target price on Johnson & Johnson from $171.00 to $159.00 and set a "neutral" rating on the stock in a research report on Thursday, April 10th. Finally, Guggenheim restated a "neutral" rating on shares of Johnson & Johnson in a research note on Wednesday, April 2nd. Eleven equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $170.88.
Check Out Our Latest Report on JNJ
Johnson & Johnson Stock Performance
Shares of JNJ stock opened at $152.25 on Friday. The stock has a market cap of $366.33 billion, a PE ratio of 16.94, a price-to-earnings-growth ratio of 2.31 and a beta of 0.42. Johnson & Johnson has a 52-week low of $140.68 and a 52-week high of $169.99. The business has a 50-day simple moving average of $153.85 and a 200-day simple moving average of $153.69. The company has a quick ratio of 1.03, a current ratio of 1.26 and a debt-to-equity ratio of 0.49.
Johnson & Johnson (NYSE:JNJ - Get Free Report) last announced its quarterly earnings results on Tuesday, April 15th. The company reported $2.77 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.59 by $0.18. The company had revenue of $21.89 billion during the quarter, compared to the consensus estimate of $21.65 billion. Johnson & Johnson had a return on equity of 33.46% and a net margin of 24.42%. On average, equities analysts expect that Johnson & Johnson will post 10.58 EPS for the current year.
Johnson & Johnson Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Tuesday, May 27th were given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 3.42%. The ex-dividend date of this dividend was Tuesday, May 27th. This is a positive change from Johnson & Johnson's previous quarterly dividend of $1.24. Johnson & Johnson's dividend payout ratio (DPR) is currently 57.84%.
About Johnson & Johnson
(
Free Report)
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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