Johnson & Johnson (NYSE:JNJ) Shares Purchased by Intrust Bank NA

Key Points

• Intrust Bank NA increased its stake in Johnson & Johnson by 7.6%, owning 21,787 shares valued at approximately $3.61 million after purchasing an additional 1,545 shares in the first quarter.
• Johnson & Johnson reported an earnings per share (EPS) of $2.77 for the latest quarter, exceeding the consensus estimate of $2.68, along with revenue of $23.74 billion, which also surpassed estimates.
• The company announced a quarterly dividend of $1.30 per share, resulting in an annualized yield of 3.0% and a payout ratio of 55.61%.

Intrust Bank NA increased its position in Johnson & Johnson (NYSE:JNJ - Free Report) by 7.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,787 shares of the company's stock after acquiring an additional 1,545 shares during the period. Intrust Bank NA's holdings in Johnson & Johnson were worth $3,613,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in JNJ. Bernard Wealth Management Corp. acquired a new stake in shares of Johnson & Johnson during the 4th quarter valued at about $36,000. Highline Wealth Partners LLC grew its position in shares of Johnson & Johnson by 51.8% during 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 worth about $49,000. Capital A Wealth Management LLC acquired a new stake in Johnson & Johnson in the 4th quarter worth about $50,000. Finally, Harvest Fund Management Co. Ltd acquired a new stake in Johnson & Johnson in the 1st quarter worth about $52,000. Hedge funds and other institutional investors own 69.55% of the company's stock.

Johnson & Johnson Stock Up 1.1%

Shares of NYSE:JNJ traded up $1.87 during trading on Friday, hitting $173.40. The company's stock had a trading volume of 7,686,049 shares, compared to its average volume of 9,496,232. The business has a 50 day moving average price of $159.26 and a two-hundred day moving average price of $157.44. The company has a market capitalization of $417.61 billion, a PE ratio of 18.55, a P/E/G ratio of 2.18 and a beta of 0.41. 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 has a fifty-two week low of $140.68 and a fifty-two week high of $173.96.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last posted 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. The business had revenue of $23.74 billion during the quarter, compared to the consensus estimate of $22.85 billion. Johnson & Johnson had a net margin of 25.00% and a return on equity of 32.49%. The company's quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.82 earnings per share. As a group, research analysts expect that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Announces Dividend

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

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. UBS Group lifted their price objective on Johnson & Johnson from $180.00 to $190.00 and gave the stock a "buy" rating in a report on Thursday, July 17th. Piper Sandler reissued an "overweight" rating on shares of Johnson & Johnson in a research note on Thursday, July 17th. Benchmark raised shares of Johnson & Johnson to a "strong-buy" rating in a research note on Thursday, April 24th. Leerink Partnrs lowered shares of Johnson & Johnson from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 13th. Finally, Leerink Partners lowered shares of Johnson & Johnson from an "outperform" rating to a "market perform" rating and decreased their target price for the stock from $169.00 to $153.00 in a research note on Tuesday, May 13th. 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. Based on data from MarketBeat.com, Johnson & Johnson has a consensus rating of "Moderate Buy" and an average price target 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.