LPL Financial LLC Has $712.93 Million Position in Johnson & Johnson (NYSE:JNJ)

Key Points

• LPL Financial LLC increased its stake in Johnson & Johnson by 8.5%, owning approximately 4.3 million shares valued at $712.9 million at the end of the most recent reporting period.
• Johnson & Johnson reported a quarterly earnings of $2.77 per share, exceeding analysts' estimates by $0.09, with a revenue of $23.74 billion, up 5.8% year-over-year.
• The firm announced a quarterly dividend of $1.30, representing a 3.09% yield, with the payout ratio currently at 55.61%.

LPL Financial LLC raised its stake in Johnson & Johnson (NYSE:JNJ - Free Report) by 8.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,298,916 shares of the company's stock after purchasing an additional 336,055 shares during the quarter. LPL Financial LLC owned about 0.18% of Johnson & Johnson worth $712,932,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in JNJ. Geode Capital Management LLC increased its stake in Johnson & Johnson by 2.8% during the 4th quarter. Geode Capital Management LLC now owns 57,667,920 shares of the company's stock worth $8,321,881,000 after buying an additional 1,561,036 shares during the period. Northern Trust Corp increased its position in shares of Johnson & Johnson by 12.3% in the 4th quarter. Northern Trust Corp now owns 30,813,175 shares of the company's stock worth $4,456,201,000 after purchasing an additional 3,363,235 shares during the last quarter. Wellington Management Group LLP grew its position in shares of Johnson & Johnson by 1.8% during the 4th quarter. Wellington Management Group LLP now owns 24,356,572 shares of the company's stock valued at $3,522,447,000 after buying an additional 431,205 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Johnson & Johnson by 26.4% during the 1st quarter. Bank of New York Mellon Corp now owns 23,182,464 shares of the company's stock valued at $3,844,580,000 after buying an additional 4,842,582 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in Johnson & Johnson by 6.5% during the 4th quarter. Invesco Ltd. now owns 19,126,079 shares of the company's stock valued at $2,766,014,000 after purchasing an additional 1,171,975 shares during the period. Institutional investors and hedge funds own 69.55% of the company's stock.

Johnson & Johnson Price Performance

Shares of NYSE:JNJ traded down $2.30 during midday trading on Thursday, reaching $164.96. 3,882,115 shares of the company's stock were exchanged, compared to its average volume of 9,023,639. The company's 50 day simple moving average is $156.93 and its two-hundred day simple moving average is $156.30. The firm has a market capitalization of $397.27 billion, a PE ratio of 17.70, a price-to-earnings-growth ratio of 2.14 and a beta of 0.41. Johnson & Johnson has a 12 month low of $140.68 and a 12 month high of $169.99. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.76 and a current ratio of 1.01.

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

Johnson & Johnson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 9th. Stockholders of record on Tuesday, August 26th will be given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 3.15%. The ex-dividend date of this dividend is Tuesday, August 26th. Johnson & Johnson's dividend payout ratio is 55.61%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Raymond James Financial reduced their target price 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. Bank of America increased their target price 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. UBS Group upped their price target on shares of Johnson & Johnson from $180.00 to $190.00 and gave the company a "buy" rating in a research report on Thursday, July 17th. Morgan Stanley upped their price target on shares of Johnson & Johnson from $171.00 to $176.00 and gave the company an "equal weight" rating in a research report on Thursday, July 17th. Finally, Erste Group Bank upgraded shares of Johnson & Johnson from a "hold" rating to a "buy" rating in a research note on Wednesday, July 23rd. Nine analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $174.50.

Johnson & Johnson Company 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.