Koss Olinger Consulting LLC Purchases New Position in Johnson & Johnson (NYSE:JNJ)

Key Points

• Koss Olinger Consulting LLC has acquired 6,817 shares of Johnson & Johnson, valued at approximately $1.13 million, as part of its new investment strategy during Q1.
• Several hedge funds have significantly increased their stakes in Johnson & Johnson, with GAMMA Investing LLC raising its position by an astounding 24,450.4%.
• Johnson & Johnson has announced a quarterly dividend of $1.30 per share, which equates to an annualized yield of 3.0%, payable on September 9th.

Koss Olinger Consulting LLC purchased a new position in shares of Johnson & Johnson (NYSE:JNJ - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 6,817 shares of the company's stock, valued at approximately $1,130,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Donoghue Forlines LLC acquired a new position in Johnson & Johnson in the first quarter valued at $1,482,000. Zions Bancorporation National Association UT acquired a new position in Johnson & Johnson in the first quarter valued at $9,137,000. Townsquare Capital LLC lifted its holdings in Johnson & Johnson by 62.7% in the first quarter. Townsquare Capital LLC now owns 215,308 shares of the company's stock valued at $35,707,000 after buying an additional 82,979 shares during the period. Morton Community Bank lifted its holdings in Johnson & Johnson by 2.0% in the first quarter. Morton Community Bank now owns 25,511 shares of the company's stock valued at $4,231,000 after buying an additional 489 shares during the period. Finally, Sloy Dahl & Holst LLC lifted its holdings in Johnson & Johnson by 1.8% in the first quarter. Sloy Dahl & Holst LLC now owns 6,155 shares of the company's stock valued at $1,021,000 after buying an additional 106 shares during the period. Institutional investors and hedge funds own 69.55% of the company's stock.

Johnson & Johnson Stock Up 1.1%

Shares of NYSE:JNJ traded up $1.87 during midday trading on Friday, hitting $173.40. 7,686,049 shares of the company's stock were exchanged, compared to its average volume of 9,496,232. 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 stock has a 50 day moving average price of $159.26 and a 200-day moving average price of $157.52. The company has a market cap of $417.61 billion, a PE ratio of 18.55, a price-to-earnings-growth ratio of 2.21 and a beta of 0.41. Johnson & Johnson has a 12 month low of $140.68 and a 12 month high of $173.96.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last released its quarterly earnings results on Wednesday, July 16th. The company reported $2.77 earnings per share for the quarter, topping the consensus estimate of $2.68 by $0.09. Johnson & Johnson had a net margin of 25.00% and a return on equity of 32.49%. The business had revenue of $23.74 billion for the quarter, compared to analysts' expectations of $22.85 billion. During the same period in the previous year, the company earned $2.82 earnings per share. The firm's revenue for the quarter was up 5.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on JNJ. Guggenheim restated a "neutral" rating and issued a $167.00 target price (up previously from $164.00) on shares of Johnson & Johnson in a report on Thursday, July 17th. Leerink Partnrs downgraded shares of Johnson & Johnson from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 13th. Bank of America lifted their price target on shares of Johnson & Johnson from $161.00 to $175.00 and gave the company a "neutral" rating in a research note on Thursday, July 17th. Raymond James Financial decreased their price target on shares of Johnson & Johnson from $165.00 to $162.00 and set an "outperform" rating for the company in a research note on Monday, April 14th. Finally, Barclays lifted their price target on shares of Johnson & Johnson from $165.00 to $176.00 and gave the company an "equal weight" rating in a research note on Thursday, July 17th. Nine equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Johnson & Johnson has an average rating of "Moderate Buy" and an average price target of $174.50.

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.