Liberty Wealth Management LLC Grows Holdings in Johnson & Johnson (NYSE:JNJ)

Key Points

• Liberty Wealth Management LLC increased its stake in Johnson & Johnson by 288.6%, acquiring an additional 10,224 shares, bringing its total holdings to 13,767 shares valued at $2,283,000.
• Major analysts have boosted their target prices for Johnson & Johnson, with Barclays increasing it to $176.00 and UBS Group raising it to $190.00, indicating a strong market consensus for the stock.
• Johnson & Johnson has declared a quarterly dividend of $1.30 per share, with a resulting annualized dividend yield of 3.1%.

Liberty Wealth Management LLC raised its stake in Johnson & Johnson (NYSE:JNJ - Free Report) by 288.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,767 shares of the company's stock after purchasing an additional 10,224 shares during the period. Liberty Wealth Management LLC's holdings in Johnson & Johnson were worth $2,283,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of JNJ. Bernard Wealth Management Corp. purchased a new stake in shares of Johnson & Johnson in the fourth quarter valued at approximately $36,000. Highline Wealth Partners LLC raised its holdings 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 acquiring an additional 86 shares in the last quarter. von Borstel & Associates Inc. acquired a new stake in Johnson & Johnson during the first quarter worth about $49,000. Capital A Wealth Management LLC bought a new position in Johnson & Johnson in the 4th quarter worth approximately $50,000. Finally, Harvest Fund Management Co. Ltd acquired a new stake in shares of Johnson & Johnson in the first quarter valued at $52,000. Institutional investors own 69.55% of the company's stock.

Analyst Ratings Changes

Several research analysts recently commented on JNJ shares. Leerink Partnrs downgraded shares of Johnson & Johnson from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 13th. The Goldman Sachs Group raised shares of Johnson & Johnson from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $157.00 to $172.00 in a research note on Wednesday, April 9th. Raymond James Financial reduced their target price on Johnson & Johnson from $165.00 to $162.00 and set an "outperform" rating on the stock in a research report on Monday, April 14th. Royal Bank Of Canada boosted their price objective on Johnson & Johnson from $181.00 to $185.00 and gave the company an "outperform" rating in a research report on Thursday, July 17th. Finally, Piper Sandler reiterated an "overweight" rating on shares of Johnson & Johnson in a report 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 given a strong buy rating to the company. Based on data from MarketBeat, Johnson & Johnson currently has a consensus rating of "Moderate Buy" and a consensus target price of $174.50.

Johnson & Johnson Stock Performance

NYSE:JNJ traded up $0.82 during midday trading on Thursday, hitting $171.41. The company's stock had a trading volume of 9,138,425 shares, compared to its average volume of 9,072,051. 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's 50 day moving average is $158.53 and its 200-day moving average is $157.10. The firm has a market cap of $412.81 billion, a P/E ratio of 18.33, a P/E/G ratio of 2.17 and a beta of 0.41. Johnson & Johnson has a fifty-two week low of $140.68 and a fifty-two week high of $172.18.

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

Johnson & Johnson Announces Dividend

The business also recently disclosed 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. This represents a $5.20 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend is Tuesday, August 26th. Johnson & Johnson's dividend payout ratio is presently 55.61%.

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.