Douglas Lane & Associates LLC Raises Stock Position in Johnson & Johnson (NYSE:JNJ)

Douglas Lane & Associates LLC grew its position in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 3.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 617,675 shares of the company's stock after buying an additional 18,289 shares during the quarter. Johnson & Johnson accounts for 1.5% of Douglas Lane & Associates LLC's portfolio, making the stock its 14th largest position. Douglas Lane & Associates LLC's holdings in Johnson & Johnson were worth $102,435,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Norges Bank bought a new position in Johnson & Johnson during the fourth quarter valued at approximately $4,390,037,000. Raymond James Financial Inc. bought a new position in Johnson & Johnson during the fourth quarter valued at approximately $1,339,878,000. GAMMA Investing LLC lifted its position in Johnson & Johnson by 24,450.4% during 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 during the period. Janus Henderson Group PLC lifted its position in Johnson & Johnson by 134.5% during the fourth quarter. Janus Henderson Group PLC now owns 7,948,508 shares of the company's stock valued at $1,149,536,000 after purchasing an additional 4,559,147 shares during the period. Finally, Northern Trust Corp lifted its position in Johnson & Johnson by 12.3% during 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. Hedge funds and other institutional investors own 69.55% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on JNJ shares. Wall Street Zen downgraded shares of Johnson & Johnson from a "strong-buy" rating to a "buy" rating in a research report on Thursday, May 22nd. Barclays decreased their price target on shares of Johnson & Johnson from $166.00 to $165.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 17th. The Goldman Sachs Group upgraded shares of Johnson & Johnson from a "neutral" rating to a "buy" rating and increased their price target for the stock from $157.00 to $172.00 in a research report on Wednesday, April 9th. Bank of America decreased their price target on shares of 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, Sanford C. Bernstein reiterated a "market perform" rating on shares of Johnson & Johnson in a research report on Wednesday, April 16th. Eleven analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $170.88.

Johnson & Johnson Price Performance

Shares of JNJ stock traded up $0.16 on Monday, hitting $155.37. 6,665,172 shares of the stock traded hands, compared to its average volume of 7,943,546. The firm has a market cap of $373.83 billion, a price-to-earnings ratio of 23.36, a PEG ratio of 2.56 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 firm has a 50 day simple moving average of $154.31 and a two-hundred day simple moving average of $153.66. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.11 and a quick ratio of 0.86.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last posted its earnings results on Tuesday, April 15th. The company reported $2.77 earnings per share for the quarter, beating the consensus estimate of $2.59 by $0.18. The company had revenue of $21.89 billion during the quarter, compared to analysts' expectations of $21.65 billion. Johnson & Johnson had a net margin of 18.20% and a return on equity of 34.24%. As a group, equities research analysts predict that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Tuesday, May 27th will be paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 3.35%. This is a boost from Johnson & Johnson's previous quarterly dividend of $1.24. The ex-dividend date is Tuesday, May 27th. Johnson & Johnson's dividend payout ratio (DPR) is presently 57.84%.

About Johnson & Johnson

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.