TrueMark Investments LLC Buys 3,735 Shares of Johnson & Johnson (NYSE:JNJ)

TrueMark Investments LLC boosted its position in Johnson & Johnson (NYSE:JNJ - Free Report) by 10.7% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 38,542 shares of the company's stock after purchasing an additional 3,735 shares during the period. Johnson & Johnson comprises 1.7% of TrueMark Investments LLC's investment portfolio, making the stock its 11th biggest position. TrueMark Investments LLC's holdings in Johnson & Johnson were worth $6,392,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in JNJ. WealthTrak Capital Management LLC bought a new stake in Johnson & Johnson in the 4th quarter worth about $26,000. Mountain Hill Investment Partners Corp. purchased a new position in Johnson & Johnson in the fourth quarter valued at about $29,000. Conquis Financial LLC purchased a new position in Johnson & Johnson in the fourth quarter valued at about $33,000. Bernard Wealth Management Corp. purchased a new position in Johnson & Johnson in the fourth quarter valued at about $36,000. Finally, Runnymede Capital Advisors Inc. purchased a new position in Johnson & Johnson in the fourth quarter valued at about $38,000. 69.55% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on JNJ. Guggenheim reiterated a "neutral" rating on shares of Johnson & Johnson in a research note on Wednesday, April 2nd. Sanford C. Bernstein reiterated a "market perform" rating on shares of Johnson & Johnson in a research note on Wednesday, April 16th. Barclays dropped their target price on shares of Johnson & Johnson from $166.00 to $165.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 17th. The Goldman Sachs Group upgraded shares of Johnson & Johnson from a "neutral" rating to a "buy" rating and upped their price target for the company from $157.00 to $172.00 in a research note on Wednesday, April 9th. Finally, Leerink Partnrs cut shares of Johnson & Johnson from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 13th. Eleven investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $170.88.

Johnson & Johnson Price Performance

Johnson & Johnson stock traded up $0.14 during midday trading on Wednesday, reaching $152.33. 7,149,773 shares of the stock were exchanged, compared to its average volume of 8,004,092. The company's fifty day moving average is $153.95 and its 200-day moving average is $153.67. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.03 and a current ratio of 1.26. The firm has a market cap of $366.52 billion, a PE ratio of 16.94, a PEG ratio of 2.31 and a beta of 0.42. Johnson & Johnson has a 52 week low of $140.68 and a 52 week high of $169.99.

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

Johnson & Johnson Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Tuesday, May 27th were issued a $1.30 dividend. This is a positive change from Johnson & Johnson's previous quarterly dividend of $1.24. The ex-dividend date was Tuesday, May 27th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.41%. Johnson & Johnson's dividend payout ratio is presently 57.84%.

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.