Delap Wealth Advisory LLC Increases Stock Position in Johnson & Johnson (NYSE:JNJ)

Key Points

• Delap Wealth Advisory LLC increased its holdings in Johnson & Johnson by 434.6% in the 1st quarter, now owning 8,660 shares valued at approximately $1.4 million.
• Several large investors, including GAMMA Investing LLC and Bank of New York Mellon, significantly expanded their positions in Johnson & Johnson, reflecting strong institutional interest in the stock.
• Johnson & Johnson reported earnings per share of $2.77 for the recent quarter, exceeding analyst expectations and showing a 5.8% year-over-year revenue increase to $23.74 billion.

Delap Wealth Advisory LLC grew its position in Johnson & Johnson (NYSE:JNJ - Free Report) by 434.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,660 shares of the company's stock after acquiring an additional 7,040 shares during the period. Johnson & Johnson comprises approximately 0.8% of Delap Wealth Advisory LLC's investment portfolio, making the stock its 26th biggest position. Delap Wealth Advisory LLC's holdings in Johnson & Johnson were worth $1,436,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of JNJ. Conquis Financial LLC purchased a new stake in shares of Johnson & Johnson in the 4th quarter valued at approximately $33,000. Bernard Wealth Management Corp. purchased a new stake in shares of Johnson & Johnson in the 4th quarter valued at approximately $36,000. Highline Wealth Partners LLC grew its stake in shares of 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 buying an additional 86 shares during the period. von Borstel & Associates Inc. purchased a new stake in shares of Johnson & Johnson in the 1st quarter valued at approximately $49,000. Finally, Capital A Wealth Management LLC purchased a new stake in shares of Johnson & Johnson in the 4th quarter valued at approximately $50,000. Institutional investors and hedge funds own 69.55% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Piper Sandler reaffirmed an "overweight" rating on shares of Johnson & Johnson in a research report on Thursday, July 17th. Sanford C. Bernstein reaffirmed a "market perform" rating on shares of Johnson & Johnson in a research report on Wednesday, April 16th. Raymond James Financial decreased their price target on shares of Johnson & Johnson from $165.00 to $162.00 and set an "outperform" rating for the company in a research report on Monday, April 14th. Guggenheim reissued a "neutral" rating and issued a $167.00 price target (up previously from $164.00) on shares of Johnson & Johnson in a research report on Thursday, July 17th. Finally, Morgan Stanley raised their price objective on shares of Johnson & Johnson from $171.00 to $176.00 and gave the company 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 assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $174.50.

Johnson & Johnson Trading Up 1.6%

Shares of NYSE:JNJ traded up $2.59 during trading on Friday, reaching $167.33. The stock had a trading volume of 8,914,735 shares, compared to its average volume of 9,077,193. The business has a fifty day moving average price of $157.18 and a 200-day moving average price of $156.44. The company has a quick ratio of 0.76, a current ratio of 1.01 and a debt-to-equity ratio of 0.50. The stock has a market cap of $402.99 billion, a P/E ratio of 17.90, a PEG ratio of 2.13 and a beta of 0.41. Johnson & Johnson has a fifty-two week low of $140.68 and a fifty-two week high of $169.99.

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

Johnson & Johnson Announces Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Tuesday, August 26th. This represents a $5.20 annualized dividend and a dividend yield of 3.1%. Johnson & Johnson's dividend payout ratio is presently 55.61%.

About Johnson & Johnson

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.