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Bleakley Financial Group LLC Has $18.38 Million Stock Position in Johnson & Johnson (NYSE:JNJ)

Johnson & Johnson logo with Medical background

Bleakley Financial Group LLC lifted its stake in Johnson & Johnson (NYSE:JNJ - Free Report) by 9.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 110,820 shares of the company's stock after acquiring an additional 10,025 shares during the quarter. Bleakley Financial Group LLC's holdings in Johnson & Johnson were worth $18,378,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Zullo Investment Group Inc. increased its stake in shares of Johnson & Johnson by 2.5% during the 1st quarter. Zullo Investment Group Inc. now owns 17,262 shares of the company's stock worth $2,863,000 after purchasing an additional 415 shares during the last quarter. Whitener Capital Management Inc. boosted its holdings in Johnson & Johnson by 6.0% in the first quarter. Whitener Capital Management Inc. now owns 21,148 shares of the company's stock worth $3,507,000 after purchasing an additional 1,190 shares in the last quarter. LRI Investments LLC increased its position in Johnson & Johnson by 11.8% during the first quarter. LRI Investments LLC now owns 14,260 shares of the company's stock worth $2,365,000 after buying an additional 1,507 shares during the last quarter. Asset Dedication LLC raised its holdings in Johnson & Johnson by 14.1% during the first quarter. Asset Dedication LLC now owns 15,273 shares of the company's stock valued at $2,533,000 after buying an additional 1,886 shares in the last quarter. Finally, Cahaba Wealth Management Inc. lifted its position in shares of Johnson & Johnson by 6.1% in the first quarter. Cahaba Wealth Management Inc. now owns 5,408 shares of the company's stock worth $897,000 after buying an additional 310 shares during the last quarter. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Johnson & Johnson Stock Performance

JNJ stock traded up $9.61 during trading on Wednesday, reaching $164.78. 22,128,650 shares of the stock were exchanged, compared to its average volume of 8,149,674. Johnson & Johnson has a twelve month low of $140.68 and a twelve month high of $169.99. The company has a current ratio of 1.26, a quick ratio of 1.03 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $396.47 billion, a P/E ratio of 18.33, a price-to-earnings-growth ratio of 2.12 and a beta of 0.41. The stock has a 50 day simple moving average of $153.95 and a 200-day simple moving average of $154.71.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last announced its quarterly earnings data on Wednesday, July 16th. The company reported $2.77 earnings per share for the quarter, topping the consensus estimate of $2.68 by $0.09. The company had revenue of $23.74 billion for the quarter, compared to analyst estimates of $22.85 billion. Johnson & Johnson had a return on equity of 33.46% and a net margin of 24.42%. Johnson & Johnson's revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter last year, the firm earned $2.82 EPS. As a group, sell-side analysts anticipate that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 9th. Shareholders of record on Tuesday, August 26th will be issued a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 3.16%. Johnson & Johnson's dividend payout ratio (DPR) is presently 57.84%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on JNJ shares. Barclays lowered their price objective on Johnson & Johnson from $166.00 to $165.00 and set an "equal weight" rating on the stock in a report on Thursday, April 17th. Raymond James Financial lowered their price target on Johnson & Johnson from $165.00 to $162.00 and set an "outperform" rating on the stock in a report on Monday, April 14th. Wall Street Zen upgraded shares of Johnson & Johnson from a "buy" rating to a "strong-buy" rating in a research note on Saturday, June 21st. Guggenheim reaffirmed a "neutral" rating on shares of Johnson & Johnson in a report on Wednesday, April 2nd. Finally, Benchmark upgraded shares of Johnson & Johnson to a "strong-buy" rating in a report on Thursday, April 24th. Eleven equities research 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 MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $171.00.

View Our Latest Stock Report on Johnson & Johnson

About Johnson & Johnson

(Free Report)

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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Institutional Ownership by Quarter for Johnson & Johnson (NYSE:JNJ)

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