Johnson & Johnson (NYSE:JNJ) Shares Purchased by Drake & Associates LLC

Drake & Associates LLC boosted its stake in Johnson & Johnson (NYSE:JNJ - Free Report) by 54.1% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 14,896 shares of the company's stock after buying an additional 5,227 shares during the period. Johnson & Johnson makes up 0.7% of Drake & Associates LLC's portfolio, making the stock its 19th largest holding. Drake & Associates LLC's holdings in Johnson & Johnson were worth $2,470,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of JNJ. MRP Capital Investments LLC boosted its position in Johnson & Johnson by 4.1% in the fourth quarter. MRP Capital Investments LLC now owns 1,640 shares of the company's stock valued at $237,000 after buying an additional 65 shares during the last quarter. Syverson Strege & Co boosted its position in Johnson & Johnson by 4.9% in the fourth quarter. Syverson Strege & Co now owns 1,394 shares of the company's stock valued at $202,000 after buying an additional 65 shares during the last quarter. Sage Mountain Advisors LLC boosted its position in Johnson & Johnson by 0.5% in the fourth quarter. Sage Mountain Advisors LLC now owns 14,564 shares of the company's stock valued at $2,106,000 after buying an additional 67 shares during the last quarter. MBA Advisors LLC boosted its position in Johnson & Johnson by 1.2% in the first quarter. MBA Advisors LLC now owns 5,553 shares of the company's stock valued at $921,000 after buying an additional 68 shares during the last quarter. Finally, Sovereign Financial Group Inc. boosted its position in Johnson & Johnson by 1.8% in the first quarter. Sovereign Financial Group Inc. now owns 3,928 shares of the company's stock valued at $651,000 after buying an additional 69 shares during the last quarter. Institutional investors and hedge funds own 69.55% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Wall Street Zen upgraded Johnson & Johnson from a "buy" rating to a "strong-buy" rating in a research report on Saturday, June 21st. Leerink Partners downgraded Johnson & Johnson from an "outperform" rating to a "market perform" rating and reduced their target price for the stock from $169.00 to $153.00 in a research note on Tuesday, May 13th. Morgan Stanley reaffirmed an "underperform" rating on shares of Johnson & Johnson in a research note on Thursday. Raymond James Financial reduced their target price on 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, Benchmark raised Johnson & Johnson to a "strong-buy" rating in a research note on Thursday, April 24th. Eleven analysts have rated the stock with a hold rating, seven have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $171.00.

Johnson & Johnson Trading Down 1.4%

Johnson & Johnson stock traded down $2.20 during midday trading on Friday, reaching $155.49. 1,275,819 shares of the stock traded hands, compared to its average volume of 8,034,733. The company has a 50-day simple moving average of $153.73 and a two-hundred day simple moving average of $154.35. Johnson & Johnson has a 12-month low of $140.68 and a 12-month high of $169.99. The firm has a market cap of $374.11 billion, a PE ratio of 17.30, a price-to-earnings-growth ratio of 2.36 and a beta of 0.41. The company has a current ratio of 1.26, a quick ratio of 1.03 and a debt-to-equity ratio of 0.49.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last announced its earnings results on Tuesday, April 15th. The company reported $2.77 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 analysts' expectations of $21.65 billion. Johnson & Johnson had a return on equity of 33.46% and a net margin of 24.42%. Research analysts expect that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Tuesday, May 27th were given a dividend of $1.30 per share. The ex-dividend date was Tuesday, May 27th. This is an increase from Johnson & Johnson's previous quarterly dividend of $1.24. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.34%. Johnson & Johnson's payout ratio is currently 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.