Klingman & Associates LLC Buys 2,005 Shares of Johnson & Johnson (NYSE:JNJ)

Key Points

• Klingman & Associates LLC increased its stake in Johnson & Johnson by 13.4% during the 1st quarter, bringing its total shares owned to 16,984, valued at approximately $2.8 million.
• Various institutional investors, including Highline Wealth Partners LLC and Stone House Investment Management LLC, have also recently increased their positions in Johnson & Johnson, contributing to institutional ownership of 69.55%.
• Johnson & Johnson reported a quarterly earnings per share (EPS) of $2.77, beating estimates, with revenues of $23.74 billion, up 5.8% year-over-year.

Klingman & Associates LLC increased its stake in Johnson & Johnson (NYSE:JNJ - Free Report) by 13.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,984 shares of the company's stock after buying an additional 2,005 shares during the quarter. Klingman & Associates LLC's holdings in Johnson & Johnson were worth $2,817,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in JNJ. Highline Wealth Partners LLC raised its stake in Johnson & Johnson by 51.8% in the first quarter. Highline Wealth Partners LLC now owns 252 shares of the company's stock valued at $42,000 after buying an additional 86 shares during the period. Stone House Investment Management LLC bought a new position in shares of Johnson & Johnson during the first quarter worth approximately $47,000. von Borstel & Associates Inc. bought a new position in shares of Johnson & Johnson during the first quarter worth approximately $49,000. Harvest Fund Management Co. Ltd bought a new position in shares of Johnson & Johnson during the first quarter worth approximately $52,000. Finally, Capital A Wealth Management LLC bought a new position in shares of Johnson & Johnson during the fourth quarter worth approximately $50,000. Institutional investors and hedge funds own 69.55% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on JNJ. Sanford C. Bernstein reiterated a "market perform" rating on shares of Johnson & Johnson in a research note on Wednesday, April 16th. Barclays increased their target price on Johnson & Johnson from $165.00 to $176.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 17th. Erste Group Bank upgraded Johnson & Johnson from a "hold" rating to a "buy" rating in a research note on Wednesday, July 23rd. Wall Street Zen lowered Johnson & Johnson from a "strong-buy" rating to a "buy" rating in a research note on Friday, July 18th. Finally, Benchmark upgraded Johnson & Johnson to a "strong-buy" rating in a research note on Thursday, April 24th. Nine research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Johnson & Johnson has an average rating of "Moderate Buy" and a consensus target price of $174.50.

Johnson & Johnson Stock Performance

Shares of NYSE JNJ traded up $0.54 during midday trading on Thursday, reaching $174.96. The company's stock had a trading volume of 8,240,900 shares, compared to its average volume of 9,039,433. Johnson & Johnson has a 12-month low of $140.68 and a 12-month high of $175.72. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.01 and a quick ratio of 0.76. The firm has a 50 day moving average price of $160.42 and a 200-day moving average price of $158.01. The stock has a market capitalization of $421.37 billion, a P/E ratio of 18.71, a PEG ratio of 2.20 and a beta of 0.41.

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, beating the consensus estimate of $2.68 by $0.09. Johnson & Johnson had a return on equity of 32.49% and a net margin of 25.00%. The business had revenue of $23.74 billion for the quarter, compared to the consensus estimate of $22.85 billion. During the same quarter in the prior year, the business earned $2.82 earnings per share. Johnson & Johnson's revenue for the quarter was up 5.8% on a year-over-year basis. As a group, equities analysts predict that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 9th. Stockholders of record on Tuesday, August 26th will be issued a $1.30 dividend. The ex-dividend date of this dividend is Tuesday, August 26th. This represents a $5.20 annualized dividend and a dividend yield of 3.0%. Johnson & Johnson's dividend payout ratio is presently 55.61%.

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.