Hemington Wealth Management Has $3.96 Million Stock Holdings in Johnson & Johnson (NYSE:JNJ)

Key Points

• Hemington Wealth Management increased its stake in Johnson & Johnson by 35.3% in the first quarter, owning 23,883 shares valued at approximately $3.96 million.
• Several institutional investors, including Vanguard Group and Bank of New York Mellon, also boosted their positions in Johnson & Johnson, indicating strong institutional interest.
• Johnson & Johnson recently reported $2.77 EPS for the quarter, exceeding expectations, with a revenue increase of 5.8% year-over-year, alongside a declared dividend of $1.30 per share.

Hemington Wealth Management raised its position in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 35.3% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 23,883 shares of the company's stock after buying an additional 6,231 shares during the quarter. Johnson & Johnson comprises 0.6% of Hemington Wealth Management's portfolio, making the stock its 22nd largest position. Hemington Wealth Management's holdings in Johnson & Johnson were worth $3,960,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of JNJ. Bernard Wealth Management Corp. acquired a new stake in shares of Johnson & Johnson during the 4th quarter worth approximately $36,000. Highline Wealth Partners LLC increased its position in Johnson & Johnson by 51.8% in the 1st 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 stake in Johnson & Johnson in the 1st quarter valued at approximately $49,000. Capital A Wealth Management LLC acquired a new stake in Johnson & Johnson in the 4th quarter valued at approximately $50,000. Finally, Harvest Fund Management Co. Ltd acquired a new stake in Johnson & Johnson in the 1st quarter valued at approximately $52,000. Institutional investors and hedge funds own 69.55% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on JNJ shares. UBS Group raised their target price on Johnson & Johnson from $180.00 to $190.00 and gave the company a "buy" rating in a research report on Thursday, July 17th. Erste Group Bank upgraded Johnson & Johnson from a "hold" rating to a "buy" rating in a research report on Wednesday, July 23rd. Barclays raised their target price on Johnson & Johnson from $165.00 to $176.00 and gave the company an "equal weight" rating in a research report on Thursday, July 17th. Morgan Stanley raised their target price on Johnson & Johnson from $171.00 to $176.00 and gave the company an "equal weight" rating in a research report on Thursday, July 17th. Finally, Guggenheim reaffirmed a "neutral" rating and set a $167.00 price target (up from $164.00) on shares of Johnson & Johnson in a research note on Thursday, July 17th. Nine equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $174.50.

Johnson & Johnson Price Performance

Shares of JNJ traded up $1.87 during trading hours on Friday, hitting $173.40. 7,686,049 shares of the company were exchanged, compared to its average volume of 9,496,232. The company has a market capitalization of $417.61 billion, a PE ratio of 18.55, a PEG ratio of 2.18 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. The firm has a fifty day simple moving average of $159.26 and a 200-day simple moving average of $157.44. Johnson & Johnson has a one year low of $140.68 and a one year high of $173.96.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last released its quarterly earnings data on Wednesday, July 16th. The company reported $2.77 earnings per share for the quarter, topping the consensus estimate of $2.68 by $0.09. The business had revenue of $23.74 billion during the quarter, compared to analyst estimates of $22.85 billion. Johnson & Johnson had a return on equity of 32.49% and a net margin of 25.00%. The company's revenue was up 5.8% compared to the same quarter last year. During the same period last year, the company posted $2.82 EPS. As a group, sell-side analysts predict that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Announces Dividend

The firm 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 $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend is Tuesday, August 26th. Johnson & Johnson's dividend payout ratio (DPR) is 55.61%.

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.