Bank of New York Mellon Corp Raises Stock Position in Johnson & Johnson (NYSE:JNJ)

Bank of New York Mellon Corp lifted its holdings in Johnson & Johnson (NYSE:JNJ - Free Report) by 26.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,182,464 shares of the company's stock after purchasing an additional 4,842,582 shares during the quarter. Johnson & Johnson accounts for approximately 0.8% of Bank of New York Mellon Corp's investment portfolio, making the stock its 19th biggest holding. Bank of New York Mellon Corp owned 0.96% of Johnson & Johnson worth $3,844,580,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in JNJ. Norges Bank bought a new position in Johnson & Johnson in the 4th quarter valued at approximately $4,390,037,000. Raymond James Financial Inc. acquired a new stake in Johnson & Johnson in the 4th quarter valued at $1,339,878,000. GAMMA Investing LLC lifted its stake in Johnson & Johnson by 24,450.4% during the 1st quarter. GAMMA Investing LLC now owns 7,215,367 shares of the company's stock valued at $1,196,596,000 after acquiring an additional 7,185,977 shares in the last quarter. Janus Henderson Group PLC lifted its stake in Johnson & Johnson by 134.5% during the 4th quarter. Janus Henderson Group PLC now owns 7,948,508 shares of the company's stock valued at $1,149,536,000 after acquiring an additional 4,559,147 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in Johnson & Johnson by 12.3% during the 4th quarter. Northern Trust Corp now owns 30,813,175 shares of the company's stock valued at $4,456,201,000 after acquiring an additional 3,363,235 shares in the last quarter. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Johnson & Johnson Price Performance

NYSE:JNJ traded up $0.49 during trading hours on Tuesday, reaching $155.76. The company had a trading volume of 6,432,336 shares, compared to its average volume of 8,046,169. The company has a quick ratio of 1.03, a current ratio of 1.26 and a debt-to-equity ratio of 0.49. Johnson & Johnson has a one year low of $140.68 and a one year high of $169.99. The firm has a market capitalization of $374.77 billion, a PE ratio of 17.33, a PEG ratio of 2.36 and a beta of 0.41. The stock has a 50-day moving average of $153.67 and a two-hundred day moving average of $154.24.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last posted its quarterly earnings results on Tuesday, April 15th. The company reported $2.77 earnings per share for the quarter, beating analysts' consensus estimates of $2.59 by $0.18. The firm had revenue of $21.89 billion during the quarter, compared to the consensus estimate of $21.65 billion. Johnson & Johnson had a return on equity of 33.46% and a net margin of 24.42%. Analysts forecast that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Tuesday, May 27th were paid a $1.30 dividend. The ex-dividend date of this dividend was Tuesday, May 27th. This is a positive change from Johnson & Johnson's previous quarterly dividend of $1.24. This represents a $5.20 annualized dividend and a yield of 3.34%. Johnson & Johnson's payout ratio is 57.84%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Raymond James Financial decreased their price objective on Johnson & Johnson from $165.00 to $162.00 and set an "outperform" rating for the company in a report on Monday, April 14th. Royal Bank Of Canada reissued an "outperform" rating and set a $181.00 price objective on shares of Johnson & Johnson in a report on Thursday, June 5th. Sanford C. Bernstein restated a "market perform" rating on shares of Johnson & Johnson in a research report on Wednesday, April 16th. Benchmark upgraded Johnson & Johnson to a "strong-buy" rating in a research report on Thursday, April 24th. Finally, Wall Street Zen upgraded Johnson & Johnson from a "buy" rating to a "strong-buy" rating in a report on Saturday, June 21st. Eleven analysts have rated the stock with a hold rating, seven have issued a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $170.88.

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.