Kovitz Investment Group Partners LLC Has $76.44 Million Stock Position in Johnson & Johnson (NYSE:JNJ)

Key Points

• Kovitz Investment Group Partners LLC increased its stake in Johnson & Johnson by 33.2%, acquiring a total of 460,924 shares valued at approximately $76.44 million.
• Analysts have set a consensus price target of $174.50 for Johnson & Johnson, with recommendations ranging from "buy" to "hold".
• Johnson & Johnson plans to pay a quarterly dividend of $1.30 on September 9th, reflecting an annualized yield of 3.0%.

Kovitz Investment Group Partners LLC increased its holdings in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 33.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 460,924 shares of the company's stock after purchasing an additional 114,908 shares during the period. Kovitz Investment Group Partners LLC's holdings in Johnson & Johnson were worth $76,440,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Elios Financial Group Inc. increased its stake in Johnson & Johnson by 1.5% during the 1st quarter. Elios Financial Group Inc. now owns 4,496 shares of the company's stock valued at $746,000 after buying an additional 66 shares during the period. Atlantic Family Wealth LLC boosted its holdings in shares of Johnson & Johnson by 4.4% during the first quarter. Atlantic Family Wealth LLC now owns 1,603 shares of the company's stock worth $266,000 after purchasing an additional 67 shares during the period. MBA Advisors LLC boosted its holdings in shares of Johnson & Johnson by 1.2% during the first quarter. MBA Advisors LLC now owns 5,553 shares of the company's stock worth $921,000 after purchasing an additional 68 shares during the period. Sovereign Financial Group Inc. boosted its holdings in shares of Johnson & Johnson by 1.8% during the first quarter. Sovereign Financial Group Inc. now owns 3,928 shares of the company's stock worth $651,000 after purchasing an additional 69 shares during the period. Finally, Nabity Jensen Investment Management Inc lifted its stake in Johnson & Johnson by 1.5% in the first quarter. Nabity Jensen Investment Management Inc now owns 4,624 shares of the company's stock valued at $767,000 after acquiring an additional 69 shares during the last quarter. Institutional investors and hedge funds own 69.55% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on JNJ shares. Royal Bank Of Canada boosted their price target on shares of Johnson & Johnson from $181.00 to $185.00 and gave the company an "outperform" rating in a report on Thursday, July 17th. Erste Group Bank raised shares of Johnson & Johnson from a "hold" rating to a "buy" rating in a research note on Wednesday, July 23rd. Piper Sandler reissued an "overweight" rating on shares of Johnson & Johnson in a research note on Thursday, July 17th. Guggenheim reaffirmed a "neutral" rating and set a $167.00 price target (up previously from $164.00) on shares of Johnson & Johnson in a report on Thursday, July 17th. Finally, Leerink Partners downgraded Johnson & Johnson from an "outperform" rating to a "market perform" rating and dropped their target price for the stock from $169.00 to $153.00 in a report on Tuesday, May 13th. Nine investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $174.50.

Johnson & Johnson Price Performance

Johnson & Johnson stock traded up $2.04 during midday trading on Friday, reaching $176.76. The company's stock had a trading volume of 9,476,237 shares, compared to its average volume of 8,427,234. Johnson & Johnson has a 52 week low of $140.68 and a 52 week high of $177.27. The company has a current ratio of 1.01, a quick ratio of 0.76 and a debt-to-equity ratio of 0.50. The business has a 50-day moving average price of $160.85 and a 200-day moving average price of $158.16. The stock has a market cap of $425.70 billion, a PE ratio of 18.90, a price-to-earnings-growth ratio of 2.23 and a beta of 0.41.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last released its quarterly earnings results 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 analysts' expectations of $22.85 billion. Johnson & Johnson had a return on equity of 32.49% and a net margin of 25.00%. The business's quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the business posted $2.82 earnings per share. On average, sell-side analysts predict that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 9th. Stockholders of record on Tuesday, August 26th will be issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Tuesday, August 26th. Johnson & Johnson's payout ratio is 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.