Fifth Third Wealth Advisors LLC raised its stake in Johnson & Johnson (NYSE:JNJ - Free Report) by 23.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 26,613 shares of the company's stock after buying an additional 5,038 shares during the quarter. Fifth Third Wealth Advisors LLC's holdings in Johnson & Johnson were worth $4,413,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also recently added to or reduced their stakes in the stock. WealthTrak Capital Management LLC acquired a new stake in shares of Johnson & Johnson during the fourth quarter worth about $26,000. Mountain Hill Investment Partners Corp. acquired a new stake in shares of Johnson & Johnson during the fourth quarter worth about $29,000. Bay Harbor Wealth Management LLC acquired a new stake in shares of Johnson & Johnson during the fourth quarter worth about $32,000. Conquis Financial LLC acquired a new stake in shares of Johnson & Johnson during the fourth quarter worth about $33,000. Finally, Bernard Wealth Management Corp. acquired a new stake in Johnson & Johnson in the 4th quarter valued at approximately $36,000. Institutional investors and hedge funds own 69.55% of the company's stock.
Wall Street Analyst Weigh In
A number of equities research analysts recently issued reports on JNJ shares. Benchmark raised Johnson & Johnson to a "strong-buy" rating in a research report on Thursday, April 24th. Royal Bank of Canada reissued an "outperform" rating and issued a $181.00 target price on shares of Johnson & Johnson in a research report on Wednesday, April 16th. Bank of America dropped their target price on Johnson & Johnson from $171.00 to $159.00 and set a "neutral" rating on the stock in a research report on Thursday, April 10th. Guggenheim reissued a "neutral" rating on shares of Johnson & Johnson in a research report on Wednesday, April 2nd. Finally, Leerink Partners lowered Johnson & Johnson from an "outperform" rating to a "market perform" rating and dropped their target price for the company from $169.00 to $153.00 in a research report on Tuesday, May 13th. Eleven investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $170.88.
Check Out Our Latest Research Report on JNJ
Johnson & Johnson Price Performance
Shares of JNJ traded down $0.66 during midday trading on Wednesday, hitting $153.76. The company's stock had a trading volume of 2,522,344 shares, compared to its average volume of 7,926,596. The company has a quick ratio of 0.86, a current ratio of 1.11 and a debt-to-equity ratio of 0.43. Johnson & Johnson has a one year low of $140.68 and a one year high of $169.99. The stock has a market capitalization of $369.96 billion, a price-to-earnings ratio of 23.12, a price-to-earnings-growth ratio of 2.56 and a beta of 0.42. The company's fifty day simple moving average is $154.01 and its two-hundred day simple moving average is $153.68.
Johnson & Johnson (NYSE:JNJ - Get Free Report) last issued its earnings results on Tuesday, April 15th. The company reported $2.77 EPS for the quarter, topping the consensus estimate of $2.59 by $0.18. Johnson & Johnson had a return on equity of 34.24% and a net margin of 18.20%. The firm had revenue of $21.89 billion during the quarter, compared to the consensus estimate of $21.65 billion. As a group, equities analysts expect that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.
Johnson & Johnson Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Tuesday, May 27th will be paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date of this dividend is Tuesday, May 27th. This is a boost from Johnson & Johnson's previous quarterly dividend of $1.24. Johnson & Johnson's payout ratio is presently 57.84%.
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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