Johnson & Johnson (NYSE:JNJ) Shares Bought by NewEdge Wealth LLC

Key Points

• NewEdge Wealth LLC increased its stake in Johnson & Johnson by 7.5%, acquiring an additional 15,275 shares, bringing its total to 218,332 shares valued at $36.2 million.
• Several hedge funds significantly boosted their positions, with GAMMA Investing LLC increasing its holdings by 24,450.4%, now owning shares worth $1.2 billion.
• Johnson & Johnson declared a quarterly dividend of $1.30 per share, resulting in an annualized dividend of $5.20 and a yield of 3.1%.

NewEdge Wealth LLC boosted its stake in Johnson & Johnson (NYSE:JNJ - Free Report) by 7.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 218,332 shares of the company's stock after acquiring an additional 15,275 shares during the period. NewEdge Wealth LLC's holdings in Johnson & Johnson were worth $36,208,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in JNJ. GAMMA Investing LLC boosted its holdings in shares of Johnson & Johnson by 24,450.4% in the first 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 during the period. Bank of New York Mellon Corp grew its position in Johnson & Johnson by 26.4% during the 1st quarter. Bank of New York Mellon Corp now owns 23,182,464 shares of the company's stock worth $3,844,580,000 after purchasing an additional 4,842,582 shares during the last quarter. Janus Henderson Group PLC raised its holdings in shares of Johnson & Johnson by 134.5% in the fourth quarter. Janus Henderson Group PLC now owns 7,948,508 shares of the company's stock valued at $1,149,536,000 after buying an additional 4,559,147 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Johnson & Johnson by 12.3% during the fourth quarter. Northern Trust Corp now owns 30,813,175 shares of the company's stock worth $4,456,201,000 after buying an additional 3,363,235 shares during the period. Finally, Pacer Advisors Inc. grew its holdings in shares of Johnson & Johnson by 1,382.0% during the first quarter. Pacer Advisors Inc. now owns 3,030,084 shares of the company's stock worth $502,509,000 after buying an additional 2,825,626 shares during the last quarter. Hedge funds and other institutional investors own 69.55% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on JNJ. Bank of America upped their price target on Johnson & Johnson from $161.00 to $175.00 and gave the stock a "neutral" rating in a research note on Thursday, July 17th. Leerink Partners cut shares of Johnson & Johnson from an "outperform" rating to a "market perform" rating and reduced their target price for the stock from $169.00 to $153.00 in a research note on Tuesday, May 13th. Leerink Partnrs lowered shares of Johnson & Johnson from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 13th. Raymond James Financial dropped their target price on Johnson & Johnson from $165.00 to $162.00 and set an "outperform" rating on the stock in a research report on Monday, April 14th. Finally, Guggenheim reiterated a "neutral" rating and issued a $167.00 price objective (up previously from $164.00) on shares of Johnson & Johnson in a research report on Thursday, July 17th. Nine 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. According to data from MarketBeat, Johnson & Johnson currently has a consensus rating of "Moderate Buy" and a consensus price target of $174.50.

Johnson & Johnson Stock Performance

Shares of NYSE JNJ opened at $167.33 on Friday. The company has a 50-day simple moving average of $157.46 and a 200-day simple moving average of $156.68. 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 company has a market cap of $402.99 billion, a PE ratio of 17.90, a price-to-earnings-growth ratio of 2.13 and a beta of 0.41. Johnson & Johnson has a 12 month low of $140.68 and a 12 month high of $169.99.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last announced its quarterly earnings data on Wednesday, July 16th. The company reported $2.77 EPS for the quarter, beating analysts' consensus estimates of $2.68 by $0.09. Johnson & Johnson had a return on equity of 32.49% and a net margin of 25.00%. The business had revenue of $23.74 billion during the quarter, compared to the consensus estimate of $22.85 billion. During the same quarter in the previous year, the business earned $2.82 earnings per share. The business's revenue for the quarter was up 5.8% on a year-over-year basis. On average, equities analysts anticipate that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 9th. Shareholders 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 annualized dividend and a yield of 3.1%. Johnson & Johnson's dividend payout ratio is currently 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.

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