Element Capital Management LLC Makes New Investment in Johnson & Johnson (NYSE:JNJ)

Element Capital Management LLC purchased a new stake in Johnson & Johnson (NYSE:JNJ - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 16,864 shares of the company's stock, valued at approximately $2,797,000. Johnson & Johnson accounts for about 0.7% of Element Capital Management LLC's investment portfolio, making the stock its 19th largest holding.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Highline Wealth Partners LLC raised its position in shares of Johnson & Johnson by 51.8% in the first quarter. Highline Wealth Partners LLC now owns 252 shares of the company's stock valued at $42,000 after purchasing an additional 86 shares during the period. Stone House Investment Management LLC purchased a new position in Johnson & Johnson during the first quarter valued at approximately $47,000. von Borstel & Associates Inc. purchased a new position in Johnson & Johnson during the first quarter valued at approximately $49,000. Capital A Wealth Management LLC purchased a new position in Johnson & Johnson during the fourth quarter valued at approximately $50,000. Finally, Harvest Fund Management Co. Ltd purchased a new position in Johnson & Johnson during the first quarter valued at approximately $52,000. Institutional investors own 69.55% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on JNJ. Benchmark raised shares of Johnson & Johnson to a "strong-buy" rating in a research note on Thursday, April 24th. Morgan Stanley boosted their price objective on shares of Johnson & Johnson from $171.00 to $176.00 and gave the company an "equal weight" rating in a research note on Thursday, July 17th. Bank of America boosted their price objective on shares of Johnson & Johnson from $161.00 to $175.00 and gave the company a "neutral" rating in a research note on Thursday, July 17th. Guggenheim reaffirmed a "neutral" rating and set a $167.00 price objective (up previously from $164.00) on shares of Johnson & Johnson in a research note on Thursday, July 17th. Finally, UBS Group boosted their price target on shares of Johnson & Johnson from $180.00 to $190.00 and gave the stock a "buy" rating in a research note on Thursday, July 17th. Nine analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $174.50.

Johnson & Johnson Price Performance

Shares of Johnson & Johnson stock opened at $174.96 on Friday. Johnson & Johnson has a 52-week low of $140.68 and a 52-week high of $175.72. The stock has a market capitalization of $421.37 billion, a price-to-earnings ratio of 18.71, a price-to-earnings-growth ratio of 2.22 and a beta of 0.41. The company has a fifty day moving average of $160.85 and a 200-day moving average of $158.16. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.76 and a current ratio of 1.01.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last announced its quarterly earnings data on Wednesday, July 16th. The company reported $2.77 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.68 by $0.09. Johnson & Johnson had a net margin of 25.00% and a return on equity of 32.49%. The company had revenue of $23.74 billion during the quarter, compared to analysts' expectations of $22.85 billion. During the same quarter in the prior year, the company earned $2.82 EPS. The firm's revenue was up 5.8% on a year-over-year basis. Equities research analysts expect that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 9th. Stockholders of record on Tuesday, August 26th will be paid a $1.30 dividend. The ex-dividend date of this dividend is Tuesday, August 26th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.0%. Johnson & Johnson's dividend payout ratio is 55.61%.

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.

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