Edge Wealth Management LLC increased its position in Johnson & Johnson (NYSE:JNJ - Free Report) by 2.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 78,154 shares of the company's stock after acquiring an additional 1,709 shares during the period. Johnson & Johnson comprises about 2.6% of Edge Wealth Management LLC's investment portfolio, making the stock its 16th biggest holding. Edge Wealth Management LLC's holdings in Johnson & Johnson were worth $12,961,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of JNJ. WealthTrak Capital Management LLC purchased a new position in Johnson & Johnson during the fourth quarter valued at $26,000. Mountain Hill Investment Partners Corp. bought a new stake in shares of Johnson & Johnson in the fourth quarter worth about $29,000. Bay Harbor Wealth Management LLC bought a new stake in Johnson & Johnson during the fourth quarter worth approximately $32,000. Conquis Financial LLC bought a new stake in Johnson & Johnson during the fourth quarter worth approximately $33,000. Finally, Bernard Wealth Management Corp. bought a new stake in Johnson & Johnson during the fourth quarter worth approximately $36,000. Institutional investors own 69.55% of the company's stock.
Johnson & Johnson Price Performance
Shares of Johnson & Johnson stock opened at $153.50 on Friday. The company has a quick ratio of 0.86, a current ratio of 1.11 and a debt-to-equity ratio of 0.43. Johnson & Johnson has a twelve month low of $140.68 and a twelve month high of $169.99. The business has a 50-day moving average price of $153.56 and a 200 day moving average price of $153.67. The firm has a market cap of $369.32 billion, a PE ratio of 23.08, a P/E/G ratio of 2.56 and a beta of 0.42.
Johnson & Johnson (NYSE:JNJ - Get Free Report) last announced its quarterly 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. Johnson & Johnson had a return on equity of 34.24% and a net margin of 18.20%. The firm had revenue of $21.89 billion during the quarter, compared to analyst estimates of $21.65 billion. Sell-side analysts predict that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.
Johnson & Johnson Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Tuesday, May 27th will be paid a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 3.39%. The ex-dividend date is Tuesday, May 27th. This is a positive change from Johnson & Johnson's previous quarterly dividend of $1.24. Johnson & Johnson's payout ratio is currently 57.84%.
Analyst Ratings Changes
A number of research analysts have recently commented on JNJ shares. Raymond James cut their target price on Johnson & Johnson from $165.00 to $162.00 and set an "outperform" rating on the stock in a research note on Monday, April 14th. Barclays dropped their target price on 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. Leerink Partnrs cut Johnson & Johnson from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 13th. Morgan Stanley raised their target price on Johnson & Johnson from $164.00 to $169.00 and gave the stock an "equal weight" rating in a research note on Wednesday, April 16th. Finally, Leerink Partners lowered 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. Eleven research analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $170.88.
Check Out Our Latest Report on JNJ
About Johnson & Johnson
(
Free Report)
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.
Further Reading
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