Envestnet Asset Management Inc. Buys 168,535 Shares of Johnson & Johnson (NYSE:JNJ)

Envestnet Asset Management Inc. lifted its holdings in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 3.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,711,203 shares of the company's stock after buying an additional 168,535 shares during the period. Envestnet Asset Management Inc. owned approximately 0.20% of Johnson & Johnson worth $781,306,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. WealthTrak Capital Management LLC acquired a new stake in Johnson & Johnson in the fourth quarter worth approximately $26,000. Mountain Hill Investment Partners Corp. bought a new position in shares of Johnson & Johnson in the fourth quarter valued at $29,000. Conquis Financial LLC bought a new position in shares of Johnson & Johnson in the fourth quarter valued at $33,000. Bernard Wealth Management Corp. bought a new position in shares of Johnson & Johnson in the fourth quarter valued at $36,000. Finally, Runnymede Capital Advisors Inc. acquired a new stake in Johnson & Johnson during the 4th quarter valued at $38,000. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Wall Street Zen upgraded shares of Johnson & Johnson from a "buy" rating to a "strong-buy" rating in a report on Saturday, June 21st. Leerink Partners lowered shares of Johnson & Johnson from an "outperform" rating to a "market perform" rating and dropped their price objective for the stock from $169.00 to $153.00 in a report on Tuesday, May 13th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $181.00 price objective on shares of Johnson & Johnson in a report on Thursday, June 5th. Barclays lowered their price target on shares of Johnson & Johnson from $166.00 to $165.00 and set an "equal weight" rating for the company in a report on Thursday, April 17th. Finally, Sanford C. Bernstein reaffirmed a "market perform" rating on shares of Johnson & Johnson in a research note on Wednesday, April 16th. Eleven equities 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 company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $171.00.

Johnson & Johnson Stock Performance

JNJ stock traded down $0.82 during mid-day trading on Friday, hitting $156.87. The company had a trading volume of 7,866,488 shares, compared to its average volume of 8,066,975. The firm has a market cap of $377.44 billion, a PE ratio of 17.45, a price-to-earnings-growth ratio of 2.15 and a beta of 0.41. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.03 and a current ratio of 1.26. Johnson & Johnson has a 12 month low of $140.68 and a 12 month high of $169.99. The stock's fifty day moving average price is $153.75 and its two-hundred day moving average price is $154.43.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last issued its quarterly earnings data on Tuesday, April 15th. The company reported $2.77 EPS for the quarter, beating the consensus estimate of $2.59 by $0.18. Johnson & Johnson had a net margin of 24.42% and a return on equity of 33.46%. The company had revenue of $21.89 billion during the quarter, compared to analysts' expectations of $21.65 billion. On average, 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 declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Tuesday, May 27th were given a dividend of $1.30 per share. The ex-dividend date of this dividend was Tuesday, May 27th. This represents a $5.20 annualized dividend and a yield of 3.31%. This is a boost from Johnson & Johnson's previous quarterly dividend of $1.24. Johnson & Johnson's dividend payout ratio is presently 57.84%.

Johnson & Johnson Company 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.