Donoghue Forlines LLC Takes Position in Johnson & Johnson (NYSE:JNJ)

Key Points

• Donoghue Forlines LLC invested approximately $1.48 million in Johnson & Johnson by acquiring 8,934 shares in the 1st quarter.
• Johnson & Johnson's recent quarterly earnings exceeded analyst expectations, reporting $2.77 EPS and revenues of $23.74 billion, representing a year-over-year revenue increase of 5.8%.
• The company announced a quarterly dividend of $1.30 per share, which will be paid on September 9th, with a dividend yield of 3.0%.

Donoghue Forlines LLC bought a new stake in shares of Johnson & Johnson (NYSE:JNJ - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 8,934 shares of the company's stock, valued at approximately $1,482,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Highline Wealth Partners LLC lifted its holdings in shares of Johnson & Johnson by 51.8% in the 1st quarter. Highline Wealth Partners LLC now owns 252 shares of the company's stock worth $42,000 after purchasing an additional 86 shares during the last quarter. von Borstel & Associates Inc. bought a new stake in shares of Johnson & Johnson in the 1st quarter worth approximately $49,000. Harvest Fund Management Co. Ltd bought a new stake in shares of Johnson & Johnson in the 1st quarter worth approximately $52,000. Capital A Wealth Management LLC bought a new stake in shares of Johnson & Johnson in the 4th quarter worth approximately $50,000. Finally, Accredited Wealth Management LLC bought a new stake in shares of Johnson & Johnson in the 4th quarter worth approximately $58,000. 69.55% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Leerink Partners downgraded Johnson & Johnson from an "outperform" rating to a "market perform" rating and cut their price target for the stock from $169.00 to $153.00 in a report on Tuesday, May 13th. Bank of America raised their price target on Johnson & Johnson from $161.00 to $175.00 and gave the stock a "neutral" rating in a report on Thursday, July 17th. Morgan Stanley lifted their target price on Johnson & Johnson from $171.00 to $176.00 and gave the company an "equal weight" rating in a research note on Thursday, July 17th. Benchmark raised Johnson & Johnson to a "strong-buy" rating in a research note on Thursday, April 24th. Finally, Sanford C. Bernstein reaffirmed a "market perform" rating on shares of Johnson & Johnson in a research note on Wednesday, April 16th. Nine research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $174.50.

Johnson & Johnson Trading Up 1.1%

Johnson & Johnson stock traded up $1.87 during midday trading on Friday, reaching $173.40. The stock had a trading volume of 7,686,049 shares, compared to its average volume of 9,496,232. The firm's fifty day simple moving average is $159.26 and its two-hundred day simple moving average is $157.52. The firm has a market cap of $417.61 billion, a price-to-earnings ratio of 18.55, a PEG ratio of 2.21 and a beta of 0.41. Johnson & Johnson has a twelve month low of $140.68 and a twelve month high of $173.96. 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 (NYSE:JNJ - Get Free Report) last announced its quarterly earnings data on Wednesday, July 16th. The company reported $2.77 EPS for the quarter, topping analysts' consensus estimates of $2.68 by $0.09. Johnson & Johnson had a return on equity of 32.49% and a net margin of 25.00%. The firm had revenue of $23.74 billion during the quarter, compared to analyst estimates of $22.85 billion. During the same period last year, the company posted $2.82 EPS. The business's quarterly revenue was up 5.8% compared to the same quarter last year. Equities analysts anticipate that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 9th. Investors of record on Tuesday, August 26th will be given a dividend of $1.30 per share. The ex-dividend date of this dividend is Tuesday, August 26th. This represents a $5.20 dividend on an annualized basis and a yield of 3.0%. Johnson & Johnson's dividend payout ratio (DPR) 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.