Johnson & Johnson (NYSE:JNJ) Shares Acquired by NorthRock Partners LLC

Key Points

• NorthRock Partners LLC increased its stake in Johnson & Johnson by 8.1% during Q1, holding 45,183 shares valued at approximately $7.49 million.
• Johnson & Johnson's earnings for Q2 surpassed estimates, reporting an EPS of $2.77 and revenues of $23.74 billion, both exceeding expectations.
• The company announced a quarterly dividend of $1.30 per share, with a yield of 3.09% and a payout ratio of 55.61%, set to be paid on September 9th.

NorthRock Partners LLC grew its position in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 8.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,183 shares of the company's stock after buying an additional 3,390 shares during the quarter. NorthRock Partners LLC's holdings in Johnson & Johnson were worth $7,493,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of JNJ. Lantz Financial LLC grew its position in Johnson & Johnson by 3.3% in the first quarter. Lantz Financial LLC now owns 11,974 shares of the company's stock worth $1,986,000 after acquiring an additional 377 shares in the last quarter. Sulzberger Capital Advisors Inc. bought a new position in Johnson & Johnson in the fourth quarter worth approximately $453,000. Joel Isaacson & Co. LLC raised its stake in Johnson & Johnson by 3.5% in the first quarter. Joel Isaacson & Co. LLC now owns 74,132 shares of the company's stock worth $12,294,000 after buying an additional 2,526 shares in the last quarter. State of Wyoming increased its position in shares of Johnson & Johnson by 205,580.0% during the fourth quarter. State of Wyoming now owns 10,284 shares of the company's stock worth $1,487,000 after purchasing an additional 10,279 shares in the last quarter. Finally, Range Financial Group LLC increased its position in shares of Johnson & Johnson by 18.9% during the first quarter. Range Financial Group LLC now owns 15,886 shares of the company's stock worth $2,635,000 after purchasing an additional 2,529 shares in the last quarter. 69.55% of the stock is owned by institutional investors.

Johnson & Johnson Stock Down 1.5%

Shares of JNJ traded down $2.50 during midday trading on Thursday, reaching $164.76. The stock had a trading volume of 9,876,897 shares, compared to its average volume of 8,007,298. Johnson & Johnson has a 1-year low of $140.68 and a 1-year high of $169.99. The company's fifty day simple moving average is $157.18 and its two-hundred day simple moving average is $156.44. The company has a market cap of $396.81 billion, a price-to-earnings ratio of 17.62, a PEG ratio of 2.13 and a beta of 0.41. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.01 and a quick ratio of 0.76.

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

Johnson & Johnson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 9th. Shareholders of record on Tuesday, August 26th will be paid a $1.30 dividend. The ex-dividend date is Tuesday, August 26th. This represents a $5.20 dividend on an annualized basis and a yield of 3.2%. Johnson & Johnson's payout ratio is currently 55.61%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on JNJ. Sanford C. Bernstein reissued a "market perform" rating on shares of Johnson & Johnson in a report on Wednesday, April 16th. Barclays upped their price target on shares of Johnson & Johnson from $165.00 to $176.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 17th. Wall Street Zen downgraded shares of Johnson & Johnson from a "strong-buy" rating to a "buy" rating in a report on Friday, July 18th. Benchmark raised shares of Johnson & Johnson to a "strong-buy" rating in a research note on Thursday, April 24th. Finally, Morgan Stanley increased their price target on shares of Johnson & Johnson from $171.00 to $176.00 and gave the company an "equal weight" rating in a research note on Thursday, July 17th. Nine investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price 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.