First Foundation Advisors Has $8.09 Million Stake in Johnson & Johnson (NYSE:JNJ)

Key Points

• First Foundation Advisors has increased its holdings in Johnson & Johnson by 3.6%, now owning a total of 48,755 shares valued at approximately $8.08 million.
• Johnson & Johnson's stock recently opened at $166.18, with a market cap of $399.84 billion and a P/E ratio of 17.77.
• The company reported a quarterly earnings per share of $2.77, beating analysts' estimates, and declared a quarterly dividend of $1.30 expected to be paid on September 9th.

First Foundation Advisors lifted its holdings in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 3.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 48,755 shares of the company's stock after purchasing an additional 1,705 shares during the quarter. First Foundation Advisors' holdings in Johnson & Johnson were worth $8,085,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Conquis Financial LLC purchased a new position in shares of Johnson & Johnson in the 4th quarter valued at about $33,000. Bernard Wealth Management Corp. purchased a new stake in Johnson & Johnson during the fourth quarter worth approximately $36,000. Highline Wealth Partners LLC boosted its holdings 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 acquiring an additional 86 shares during the period. von Borstel & Associates Inc. acquired a new position in shares of Johnson & Johnson in the 1st quarter valued at $49,000. Finally, Capital A Wealth Management LLC acquired a new position in shares of Johnson & Johnson in the 4th quarter valued at $50,000. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Johnson & Johnson Stock Up 1.6%

Shares of JNJ traded up $2.59 during trading hours on Friday, hitting $167.33. 8,672,209 shares of the company were exchanged, compared to its average volume of 9,063,783. The company has a market cap of $402.99 billion, a PE ratio of 17.90, a PEG ratio of 2.13 and a beta of 0.41. The firm's 50 day moving average is $157.18 and its 200-day moving average is $156.44. Johnson & Johnson has a 52 week low of $140.68 and a 52 week high of $169.99. 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 earnings results on Wednesday, July 16th. The company reported $2.77 earnings per share for the quarter, beating the consensus estimate of $2.68 by $0.09. Johnson & Johnson had a return on equity of 32.49% and a net margin of 25.00%. The firm had revenue of $23.74 billion during the quarter, compared to the consensus estimate of $22.85 billion. During the same quarter in the prior year, the company earned $2.82 EPS. The firm's revenue for the quarter was up 5.8% compared to the same quarter last year. On average, equities research analysts forecast that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 9th. Shareholders of record on Tuesday, August 26th will be given a $1.30 dividend. The ex-dividend date is Tuesday, August 26th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.1%. Johnson & Johnson's dividend payout ratio (DPR) is currently 55.61%.

Analysts Set New Price Targets

Several research firms have recently commented on JNJ. Benchmark upgraded Johnson & Johnson to a "strong-buy" rating in a research note on Thursday, April 24th. Raymond James Financial lowered their target price 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. Wall Street Zen lowered Johnson & Johnson from a "strong-buy" rating to a "buy" rating in a research report on Friday, July 18th. The Goldman Sachs Group upgraded Johnson & Johnson from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $157.00 to $172.00 in a research report on Wednesday, April 9th. Finally, Morgan Stanley upped their price objective on Johnson & Johnson from $171.00 to $176.00 and gave the company an "equal weight" rating in a report on Thursday, July 17th. Nine equities research 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 an average rating of "Moderate Buy" and an average price target of $174.50.

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.