Drake & Associates LLC Has $2.47 Million Position in Johnson & Johnson (NYSE:JNJ)

Drake & Associates LLC increased its position in Johnson & Johnson (NYSE:JNJ - Free Report) by 54.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,896 shares of the company's stock after purchasing an additional 5,227 shares during the quarter. Johnson & Johnson makes up 0.7% of Drake & Associates LLC's portfolio, making the stock its 19th biggest position. Drake & Associates LLC's holdings in Johnson & Johnson were worth $2,470,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. WealthTrak Capital Management LLC bought a new position in Johnson & Johnson during the fourth quarter worth about $26,000. Mountain Hill Investment Partners Corp. bought a new position in shares of Johnson & Johnson during the 4th quarter valued at about $29,000. Conquis Financial LLC acquired a new position in shares of Johnson & Johnson in the 4th quarter valued at approximately $33,000. Bernard Wealth Management Corp. bought a new stake in Johnson & Johnson during the 4th quarter worth approximately $36,000. Finally, Runnymede Capital Advisors Inc. acquired a new stake in Johnson & Johnson during the 4th quarter worth approximately $38,000. 69.55% of the stock is owned by institutional investors.

Johnson & Johnson Price Performance

Shares of Johnson & Johnson stock traded up $0.28 on Wednesday, reaching $156.07. 6,140,694 shares of the stock were exchanged, compared to its average volume of 8,058,336. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.03 and a current ratio of 1.26. The firm has a market cap of $375.52 billion, a PE ratio of 17.36, a P/E/G ratio of 2.36 and a beta of 0.41. The firm's 50 day moving average is $153.67 and its 200-day moving average is $154.25. Johnson & Johnson has a one year low of $140.68 and a one year high of $169.99.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last issued its earnings results on Tuesday, April 15th. The company reported $2.77 earnings per share for the quarter, beating analysts' consensus estimates of $2.59 by $0.18. Johnson & Johnson had a return on equity of 33.46% and a net margin of 24.42%. The firm had revenue of $21.89 billion for the quarter, compared to the consensus estimate of $21.65 billion. As a group, analysts anticipate that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Tuesday, May 27th were paid a dividend of $1.30 per share. This is an increase from Johnson & Johnson's previous quarterly dividend of $1.24. The ex-dividend date was Tuesday, May 27th. This represents a $5.20 annualized dividend and a yield of 3.33%. Johnson & Johnson's payout ratio is presently 57.84%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Guggenheim restated a "neutral" rating on shares of Johnson & Johnson in a report on Wednesday, April 2nd. Raymond James Financial reduced their price objective on Johnson & Johnson from $165.00 to $162.00 and set an "outperform" rating for the company in a research report on Monday, April 14th. Leerink Partners lowered Johnson & Johnson from an "outperform" rating to a "market perform" rating and dropped their target price for the company from $169.00 to $153.00 in a research report on Tuesday, May 13th. Wall Street Zen upgraded shares of Johnson & Johnson from a "buy" rating to a "strong-buy" rating in a report on Saturday, June 21st. Finally, Morgan Stanley boosted their price target on shares of Johnson & Johnson from $164.00 to $169.00 and gave the stock an "equal weight" rating in a research report on Wednesday, April 16th. Eleven analysts have rated the stock with a hold rating, seven have assigned a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, Johnson & Johnson presently has an average rating of "Moderate Buy" and an average target price of $170.88.

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.