Johnson & Johnson (NYSE:JNJ) Shares Acquired by Horizon Investments LLC

Key Points

• Horizon Investments LLC increased its stake in Johnson & Johnson by 8.6%, owning 27,843 shares valued at approximately $4.62 million.
• Several institutional investors have also increased their positions, with ownership by these investors totaling 69.55% of the company's stock.
• Johnson & Johnson recently declared a quarterly dividend of $1.30 per share, which reflects a 3.0% dividend yield.

Horizon Investments LLC increased its holdings in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 8.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,843 shares of the company's stock after acquiring an additional 2,216 shares during the period. Horizon Investments LLC's holdings in Johnson & Johnson were worth $4,617,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Azimuth Capital Investment Management LLC lifted its stake in shares of Johnson & Johnson by 1.6% in the 1st quarter. Azimuth Capital Investment Management LLC now owns 98,691 shares of the company's stock valued at $16,367,000 after purchasing an additional 1,548 shares during the period. Hamlin Capital Management LLC raised its stake in Johnson & Johnson by 4.1% during the 1st quarter. Hamlin Capital Management LLC now owns 1,121,189 shares of the company's stock worth $185,938,000 after buying an additional 44,449 shares during the period. Trivium Point Advisory LLC raised its stake in Johnson & Johnson by 7.7% during the 1st quarter. Trivium Point Advisory LLC now owns 10,100 shares of the company's stock worth $1,675,000 after buying an additional 722 shares during the period. Inspire Trust Co. N.A. raised its stake in Johnson & Johnson by 5.4% during the 1st quarter. Inspire Trust Co. N.A. now owns 29,500 shares of the company's stock worth $4,892,000 after buying an additional 1,500 shares during the period. Finally, Waypoint Wealth Partners Inc. raised its stake in Johnson & Johnson by 11.8% during the 1st quarter. Waypoint Wealth Partners Inc. now owns 12,093 shares of the company's stock worth $2,005,000 after buying an additional 1,273 shares during the period. 69.55% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have issued reports on JNJ. Wall Street Zen downgraded Johnson & Johnson from a "strong-buy" rating to a "buy" rating in a research note on Friday, July 18th. UBS Group raised their price objective on Johnson & Johnson from $180.00 to $190.00 and gave the company 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 report on Tuesday, May 13th. Piper Sandler restated an "overweight" rating on shares of Johnson & Johnson in a report on Thursday, July 17th. Finally, Barclays lifted their price target on Johnson & Johnson from $165.00 to $176.00 and gave the stock an "equal weight" rating in a report on Thursday, July 17th. Nine research analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $174.50.

Johnson & Johnson Price Performance

JNJ traded up $2.04 during trading on Friday, hitting $176.76. 9,476,237 shares of the stock traded hands, compared to its average volume of 8,427,234. Johnson & Johnson has a twelve month low of $140.68 and a twelve month high of $177.27. The company has a market cap of $425.70 billion, a price-to-earnings ratio of 18.90, a PEG ratio of 2.23 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 business has a 50 day moving average price of $161.28 and a 200 day moving average price of $158.34.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last posted its earnings results on Wednesday, July 16th. The company reported $2.77 earnings per share for the quarter, topping analysts' consensus estimates of $2.68 by $0.09. The firm had revenue of $23.74 billion for the quarter, compared to analysts' expectations of $22.85 billion. Johnson & Johnson had a net margin of 25.00% and a return on equity of 32.49%. The company's revenue was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.82 earnings per share. Equities research analysts forecast that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 9th. Investors of record on Tuesday, August 26th will be issued a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date is Tuesday, August 26th. Johnson & Johnson's dividend payout ratio is presently 55.61%.

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.