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

Drake & Associates LLC grew its stake in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 54.1% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 14,896 shares of the company's stock after purchasing an additional 5,227 shares during the period. Johnson & Johnson makes up about 0.7% of Drake & Associates LLC's holdings, making the stock its 19th largest position. Drake & Associates LLC's holdings in Johnson & Johnson were worth $2,470,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in JNJ. Brighton Jones LLC lifted its holdings in Johnson & Johnson by 13.9% in the 4th quarter. Brighton Jones LLC now owns 51,876 shares of the company's stock valued at $7,502,000 after purchasing an additional 6,332 shares in the last quarter. Hudson Value Partners LLC lifted its holdings in Johnson & Johnson by 2.5% in the 4th quarter. Hudson Value Partners LLC now owns 41,403 shares of the company's stock valued at $5,648,000 after purchasing an additional 1,022 shares in the last quarter. Proficio Capital Partners LLC lifted its holdings in Johnson & Johnson by 22.0% in the 4th quarter. Proficio Capital Partners LLC now owns 19,951 shares of the company's stock valued at $2,885,000 after purchasing an additional 3,594 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Johnson & Johnson in the 4th quarter valued at about $1,339,878,000. Finally, OFI Invest Asset Management purchased a new position in Johnson & Johnson in the 4th quarter valued at about $1,260,000. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Johnson & Johnson Stock Performance

NYSE JNJ traded up $0.49 during trading on Tuesday, hitting $155.76. The company's stock had a trading volume of 6,432,336 shares, compared to its average volume of 9,073,093. The firm has a market cap of $374.77 billion, a P/E ratio of 17.33, a price-to-earnings-growth ratio of 2.36 and a beta of 0.41. 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 has a 52 week low of $140.68 and a 52 week high of $169.99. The firm has a 50 day moving average price of $153.67 and a 200 day moving average price of $154.24.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last released its quarterly earnings data 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 business had revenue of $21.89 billion for 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%. Equities research analysts forecast that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Increases Dividend

The company 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 a boost 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%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Leerink Partners lowered shares of Johnson & Johnson from an "outperform" rating to a "market perform" rating and reduced their target price for the company from $169.00 to $153.00 in a report on Tuesday, May 13th. Guggenheim reaffirmed a "neutral" rating on shares of Johnson & Johnson in a research note on Wednesday, April 2nd. The Goldman Sachs Group raised 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 research note on Wednesday, April 9th. Sanford C. Bernstein reaffirmed a "market perform" rating on shares of Johnson & Johnson in a research note on Wednesday, April 16th. Finally, Morgan Stanley upped their price objective 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. Eleven research analysts have rated the stock with a hold rating, seven have given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, Johnson & Johnson has a consensus rating of "Moderate Buy" and an average price target of $170.88.

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.