Scissortail Wealth Management LLC Has $4.94 Million Position in Johnson & Johnson (NYSE:JNJ)

Key Points

• Scissortail Wealth Management LLC increased its stake in Johnson & Johnson by 37.2%, holding 29,813 shares valued at approximately $4.94 million.
• Multiple analysts have raised their price targets for Johnson & Johnson, with a consensus price target now at $174.50 and the company receiving a "Moderate Buy" rating.
• Johnson & Johnson announced a quarterly dividend of $1.30, equating to an annualized dividend of $5.20 and a yield of 3.0%.

Scissortail Wealth Management LLC boosted its stake in Johnson & Johnson (NYSE:JNJ - Free Report) by 37.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,813 shares of the company's stock after purchasing an additional 8,087 shares during the period. Johnson & Johnson makes up about 1.3% of Scissortail Wealth Management LLC's investment portfolio, making the stock its 27th biggest holding. Scissortail Wealth Management LLC's holdings in Johnson & Johnson were worth $4,944,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the stock. Cooper Financial Group boosted its position in Johnson & Johnson by 10.2% in the 1st quarter. Cooper Financial Group now owns 11,516 shares of the company's stock valued at $1,910,000 after buying an additional 1,067 shares during the last quarter. American Alpha Advisors LLC bought a new position in shares of Johnson & Johnson during the first quarter worth about $465,000. Biltmore Family Office LLC lifted its position in shares of Johnson & Johnson by 15.6% during the first quarter. Biltmore Family Office LLC now owns 19,873 shares of the company's stock worth $3,296,000 after purchasing an additional 2,683 shares during the last quarter. Entropy Technologies LP lifted its position in shares of Johnson & Johnson by 919.6% during the first quarter. Entropy Technologies LP now owns 75,371 shares of the company's stock worth $12,500,000 after purchasing an additional 67,979 shares during the last quarter. Finally, Covington Investment Advisors Inc. lifted its position in shares of Johnson & Johnson by 9.8% during the first quarter. Covington Investment Advisors Inc. now owns 55,630 shares of the company's stock worth $9,226,000 after purchasing an additional 4,986 shares during the last quarter. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Johnson & Johnson Price Performance

Johnson & Johnson stock traded up $0.65 during mid-day trading on Monday, hitting $173.98. The company's stock had a trading volume of 7,208,197 shares, compared to its average volume of 9,486,962. The company has a quick ratio of 0.76, a current ratio of 1.01 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $418.99 billion, a P/E ratio of 18.61, a P/E/G ratio of 2.21 and a beta of 0.41. Johnson & Johnson has a twelve month low of $140.68 and a twelve month high of $174.60. The stock's fifty day moving average price is $159.63 and its two-hundred day moving average price is $157.79.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last posted its quarterly earnings data on Wednesday, July 16th. The company reported $2.77 EPS for the quarter, topping 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 analyst estimates of $22.85 billion. During the same quarter last year, the business posted $2.82 EPS. The company's revenue was up 5.8% on a year-over-year basis. Research analysts forecast that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 9th. Investors of record on Tuesday, August 26th will be paid a $1.30 dividend. The ex-dividend date of this dividend is Tuesday, August 26th. This represents a $5.20 dividend on an annualized basis and a yield of 3.0%. Johnson & Johnson's dividend payout ratio (DPR) is currently 55.61%.

Analyst Ratings Changes

Several equities analysts have recently commented on JNJ shares. Bank of America increased their price target on shares of Johnson & Johnson from $161.00 to $175.00 and gave the stock a "neutral" rating in a research report on Thursday, July 17th. UBS Group increased their price target on shares of Johnson & Johnson from $180.00 to $190.00 and gave the stock a "buy" rating in a research report 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 research report on Thursday, July 17th. Raymond James Financial cut their target price on shares of Johnson & Johnson from $165.00 to $162.00 and set an "outperform" rating on the stock in a report on Monday, April 14th. Finally, Sanford C. Bernstein reissued a "market perform" rating on shares of Johnson & Johnson in a report on Wednesday, April 16th. Nine equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $174.50.

Johnson & Johnson 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.