Fairtree Asset Management Pty Ltd Invests $883,000 in Johnson & Johnson (NYSE:JNJ)

Fairtree Asset Management Pty Ltd acquired a new stake in Johnson & Johnson (NYSE:JNJ - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 6,104 shares of the company's stock, valued at approximately $883,000. Johnson & Johnson makes up about 0.8% of Fairtree Asset Management Pty Ltd's portfolio, making the stock its 28th largest position.

Other hedge funds have also made changes to their positions in the company. Norges Bank bought a new stake in Johnson & Johnson in the fourth quarter worth about $4,390,037,000. Raymond James Financial Inc. bought a new stake in shares of Johnson & Johnson in the 4th quarter worth approximately $1,339,878,000. Janus Henderson Group PLC raised its holdings in shares of Johnson & Johnson by 134.5% in the 4th quarter. Janus Henderson Group PLC now owns 7,948,508 shares of the company's stock worth $1,149,536,000 after purchasing an additional 4,559,147 shares in the last quarter. Northern Trust Corp lifted its stake in Johnson & Johnson by 12.3% during the fourth quarter. Northern Trust Corp now owns 30,813,175 shares of the company's stock valued at $4,456,201,000 after purchasing an additional 3,363,235 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Johnson & Johnson during the fourth quarter worth approximately $349,206,000. Institutional investors and hedge funds own 69.55% of the company's stock.

Johnson & Johnson Stock Down 0.5%

NYSE JNJ traded down $0.72 on Wednesday, reaching $152.53. The stock had a trading volume of 8,423,290 shares, compared to its average volume of 7,953,087. The company has a current ratio of 1.11, a quick ratio of 0.86 and a debt-to-equity ratio of 0.43. Johnson & Johnson has a 1 year low of $140.68 and a 1 year high of $169.99. The business has a 50 day moving average price of $154.63 and a 200 day moving average price of $153.64. The company has a market capitalization of $367.00 billion, a price-to-earnings ratio of 22.94, 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 EPS for the quarter, beating the consensus estimate of $2.59 by $0.18. The business had revenue of $21.89 billion during the quarter, compared to analysts' expectations of $21.65 billion. Johnson & Johnson had a return on equity of 34.24% and a net margin of 18.20%. On average, analysts forecast that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Tuesday, May 27th will be given a $1.30 dividend. The ex-dividend date is Tuesday, May 27th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.41%. This is a boost from Johnson & Johnson's previous quarterly dividend of $1.24. Johnson & Johnson's payout ratio is currently 57.84%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on JNJ shares. Royal Bank of Canada reiterated an "outperform" rating and set a $181.00 price objective on shares of Johnson & Johnson in a research report on Wednesday, April 16th. Leerink Partnrs downgraded Johnson & Johnson from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 13th. Bank of America decreased their price target on Johnson & Johnson from $171.00 to $159.00 and set a "neutral" rating for the company in a research report on Thursday, April 10th. Barclays reduced their price objective on shares of Johnson & Johnson from $166.00 to $165.00 and set an "equal weight" rating for the company in a research note on Thursday, April 17th. Finally, Raymond James dropped their target price on shares of Johnson & Johnson from $165.00 to $162.00 and set an "outperform" rating on the stock in a research report on Monday, April 14th. Eleven research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average 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.