Entropy Technologies LP increased its position in Johnson & Johnson (NYSE:JNJ - Free Report) by 919.6% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 75,371 shares of the company's stock after acquiring an additional 67,979 shares during the period. Johnson & Johnson comprises approximately 1.2% of Entropy Technologies LP's holdings, making the stock its 3rd largest position. Entropy Technologies LP's holdings in Johnson & Johnson were worth $12,500,000 at the end of the most recent quarter.
A number of other hedge funds also recently added to or reduced their stakes in JNJ. Covington Investment Advisors Inc. raised its stake in Johnson & Johnson by 9.8% during the 1st quarter. Covington Investment Advisors Inc. now owns 55,630 shares of the company's stock valued at $9,226,000 after buying an additional 4,986 shares during the last quarter. Berger Financial Group Inc increased its stake in shares of Johnson & Johnson by 24.3% in the 1st quarter. Berger Financial Group Inc now owns 49,985 shares of the company's stock worth $8,290,000 after purchasing an additional 9,767 shares in the last quarter. Pandora Wealth Inc. purchased a new stake in shares of Johnson & Johnson in the 1st quarter worth $65,000. Sierra Summit Advisors LLC increased its stake in shares of Johnson & Johnson by 1.0% in the 1st quarter. Sierra Summit Advisors LLC now owns 14,060 shares of the company's stock worth $2,332,000 after purchasing an additional 133 shares in the last quarter. Finally, Fiduciary Family Office LLC purchased a new stake in shares of Johnson & Johnson in the 1st quarter worth $1,508,000. 69.55% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
JNJ has been the subject of several analyst reports. 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 note on Monday, April 14th. Morgan Stanley increased their price target on Johnson & Johnson from $171.00 to $176.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 17th. Sanford C. Bernstein reiterated a "market perform" rating on shares of Johnson & Johnson in a research note on Wednesday, April 16th. Barclays increased their price target on Johnson & Johnson from $165.00 to $176.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 17th. Finally, Royal Bank Of Canada increased their price target on Johnson & Johnson from $181.00 to $185.00 and gave the stock an "outperform" rating in a research note on Thursday, July 17th. Nine investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $174.50.
Get Our Latest Research Report on JNJ
Johnson & Johnson Price Performance
Shares of JNJ traded down $1.03 during midday trading on Tuesday, hitting $172.79. 7,872,042 shares of the company traded hands, compared to its average volume of 9,065,147. The firm has a 50 day moving average of $159.63 and a 200-day moving average of $157.79. Johnson & Johnson has a 52 week low of $140.68 and a 52 week high of $174.76. The stock has a market cap of $416.14 billion, a price-to-earnings ratio of 18.48, a PEG ratio of 2.21 and a beta of 0.41. 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 results on Wednesday, July 16th. The company reported $2.77 EPS for the quarter, beating analysts' consensus estimates of $2.68 by $0.09. The firm had revenue of $23.74 billion during the quarter, compared to the consensus estimate of $22.85 billion. Johnson & Johnson had a net margin of 25.00% and a return on equity of 32.49%. The firm's revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter last year, the firm earned $2.82 EPS. On average, analysts forecast that Johnson & Johnson will post 10.58 EPS for the current fiscal year.
Johnson & Johnson Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 9th. Stockholders of record on Tuesday, August 26th will be given a dividend of $1.30 per share. 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 (DPR) is 55.61%.
Johnson & Johnson Profile
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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.
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