Zhang Financial LLC Purchases 5,210 Shares of Johnson & Johnson (NYSE:JNJ)

Zhang Financial LLC increased its stake in Johnson & Johnson (NYSE:JNJ - Free Report) by 42.1% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 17,590 shares of the company's stock after acquiring an additional 5,210 shares during the quarter. Zhang Financial LLC's holdings in Johnson & Johnson were worth $2,917,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. WealthTrak Capital Management LLC acquired a new stake in shares of Johnson & Johnson in the fourth quarter worth $26,000. Mountain Hill Investment Partners Corp. acquired a new stake in shares of Johnson & Johnson in the fourth quarter worth $29,000. Conquis Financial LLC acquired a new stake in shares of Johnson & Johnson in the fourth quarter worth $33,000. Bernard Wealth Management Corp. acquired a new stake in shares of Johnson & Johnson in the fourth quarter worth $36,000. Finally, Runnymede Capital Advisors Inc. acquired a new stake in shares of Johnson & Johnson in the fourth quarter worth $38,000. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Johnson & Johnson Stock Up 0.9%

Shares of NYSE JNJ traded up $1.35 during mid-day trading on Thursday, reaching $156.61. 7,065,256 shares of the company traded hands, compared to its average volume of 7,948,711. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.86 and a current ratio of 1.11. The company's fifty day moving average is $153.56 and its two-hundred day moving average is $153.70. The stock has a market cap of $376.82 billion, a PE ratio of 23.55, a price-to-earnings-growth ratio of 2.56 and a beta of 0.42. Johnson & Johnson has a fifty-two week low of $140.68 and a fifty-two week high of $169.99.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last posted its quarterly earnings data on Tuesday, April 15th. The company reported $2.77 EPS 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 return on equity of 34.24% and a net margin of 18.20%. On average, analysts expect that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Tuesday, May 27th were paid a $1.30 dividend. The ex-dividend date was Tuesday, May 27th. This is a positive change from Johnson & Johnson's previous quarterly dividend of $1.24. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.32%. Johnson & Johnson's payout ratio is presently 57.84%.

Analysts Set New Price Targets

Several brokerages have recently commented on JNJ. Bank of America decreased their target price on Johnson & Johnson from $171.00 to $159.00 and set a "neutral" rating for the company in a research report on Thursday, April 10th. Benchmark raised Johnson & Johnson to a "strong-buy" rating in a research report on Thursday, April 24th. Wall Street Zen lowered Johnson & Johnson from a "strong-buy" rating to a "buy" rating in a report on Thursday, May 22nd. Guggenheim restated a "neutral" rating on shares of Johnson & Johnson in a report on Wednesday, April 2nd. Finally, Leerink Partnrs downgraded shares of Johnson & Johnson from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 13th. Eleven investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $170.88.

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.