Hamlin Capital Management LLC Boosts Stake in Johnson & Johnson (NYSE:JNJ)

Key Points

• Hamlin Capital Management LLC has increased its stake in Johnson & Johnson by 4.1%, now owning over 1.1 million shares valued at approximately $185.9 million.
• Johnson & Johnson recently reported a quarterly earnings per share (EPS) of $2.77, surpassing analyst expectations of $2.68.
• The company declared a quarterly dividend of $1.30 per share, yielding 3.0%, with payment scheduled for September 9th.

Hamlin Capital Management LLC increased its position in Johnson & Johnson (NYSE:JNJ - Free Report) by 4.1% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 1,121,189 shares of the company's stock after acquiring an additional 44,449 shares during the quarter. Johnson & Johnson comprises 4.5% of Hamlin Capital Management LLC's investment portfolio, making the stock its 7th largest holding. Hamlin Capital Management LLC's holdings in Johnson & Johnson were worth $185,938,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Lantz Financial LLC grew its stake in Johnson & Johnson by 3.3% during the first quarter. Lantz Financial LLC now owns 11,974 shares of the company's stock valued at $1,986,000 after acquiring an additional 377 shares in the last quarter. Sulzberger Capital Advisors Inc. purchased a new position in shares of Johnson & Johnson during the 4th quarter valued at $453,000. Joel Isaacson & Co. LLC raised its position in shares of Johnson & Johnson by 3.5% in the first quarter. Joel Isaacson & Co. LLC now owns 74,132 shares of the company's stock worth $12,294,000 after buying an additional 2,526 shares in the last quarter. State of Wyoming boosted its stake in Johnson & Johnson by 205,580.0% during the fourth quarter. State of Wyoming now owns 10,284 shares of the company's stock valued at $1,487,000 after buying an additional 10,279 shares during the period. Finally, Range Financial Group LLC increased its stake in Johnson & Johnson by 18.9% in the 1st quarter. Range Financial Group LLC now owns 15,886 shares of the company's stock worth $2,635,000 after acquiring an additional 2,529 shares during the last quarter. 69.55% of the stock is currently owned by institutional investors.

Johnson & Johnson Stock Up 0.9%

Shares of NYSE:JNJ opened at $174.29 on Thursday. The stock's 50-day moving average is $160.42 and its 200 day moving average is $158.01. The company has a market cap of $419.75 billion, a PE ratio of 18.64, a P/E/G ratio of 2.20 and a beta of 0.41. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.01 and a quick ratio of 0.76. Johnson & Johnson has a 1 year low of $140.68 and a 1 year high of $174.76.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last announced its 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 company had revenue of $23.74 billion during the quarter, compared to the consensus estimate of $22.85 billion. Johnson & Johnson had a return on equity of 32.49% and a net margin of 25.00%. The firm's revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.82 earnings per share. Sell-side analysts anticipate that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on JNJ shares. Wall Street Zen lowered Johnson & Johnson from a "strong-buy" rating to a "buy" rating in a report on Friday, July 18th. Piper Sandler reissued an "overweight" rating on shares of Johnson & Johnson in a research note on Thursday, July 17th. UBS Group lifted their price objective on shares of Johnson & Johnson from $180.00 to $190.00 and gave the stock a "buy" rating in a report on Thursday, July 17th. Leerink Partnrs cut Johnson & Johnson from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 13th. Finally, Guggenheim restated a "neutral" rating and set a $167.00 price target (up previously from $164.00) on shares of Johnson & Johnson in a research report 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 stock. Based on data from MarketBeat, Johnson & Johnson currently has an average rating of "Moderate Buy" and an average target price of $174.50.

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.

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