Meeder Advisory Services Inc. Has $7.36 Million Stock Holdings in Johnson & Johnson (NYSE:JNJ)

Key Points

• Meeder Advisory Services Inc. increased its stake in Johnson & Johnson by 18.8%, acquiring an additional 7,035 shares, which brings its total holdings to 44,394 shares valued at approximately $7.36 million.
• Johnson & Johnson reported quarterly earnings of $2.77 per share, exceeding analyst estimates of $2.68, and achieved a 5.8% year-over-year revenue growth with total revenue of $23.74 billion.
• The company declared a quarterly dividend of $1.30 per share, offering an annualized yield of 3.13%, with a dividend payout ratio of 55.61%.

Meeder Advisory Services Inc. boosted its holdings in Johnson & Johnson (NYSE:JNJ - Free Report) by 18.8% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 44,394 shares of the company's stock after purchasing an additional 7,035 shares during the quarter. Meeder Advisory Services Inc.'s holdings in Johnson & Johnson were worth $7,362,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Conquis Financial LLC bought a new position in Johnson & Johnson in the 4th quarter valued at about $33,000. Bernard Wealth Management Corp. bought a new position in Johnson & Johnson in the 4th quarter valued at about $36,000. Highline Wealth Partners LLC increased its holdings in Johnson & Johnson by 51.8% in the 1st 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. von Borstel & Associates Inc. bought a new stake in shares of Johnson & Johnson during the 1st quarter valued at approximately $49,000. Finally, Capital A Wealth Management LLC bought a new stake in shares of Johnson & Johnson during the 4th quarter valued at approximately $50,000. Institutional investors and hedge funds own 69.55% of the company's stock.

Johnson & Johnson Stock Up 1.7%

Shares of Johnson & Johnson stock traded up $2.73 during trading on Friday, reaching $167.47. 4,412,478 shares of the company traded hands, compared to its average volume of 9,045,093. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.01 and a quick ratio of 0.76. Johnson & Johnson has a 1-year low of $140.68 and a 1-year high of $169.99. The company has a 50 day moving average price of $157.18 and a 200-day moving average price of $156.44. The firm has a market capitalization of $403.31 billion, a PE ratio of 17.91, a P/E/G ratio of 2.13 and a beta of 0.41.

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

Johnson & Johnson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 9th. Shareholders of record on Tuesday, August 26th will be issued a dividend of $1.30 per share. The ex-dividend date is Tuesday, August 26th. This represents a $5.20 annualized dividend and a yield of 3.1%. Johnson & Johnson's dividend payout ratio is presently 55.61%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Benchmark raised shares of Johnson & Johnson to a "strong-buy" rating in a report on Thursday, April 24th. Piper Sandler reaffirmed an "overweight" rating on shares of Johnson & Johnson in a report on Thursday, July 17th. The Goldman Sachs Group raised shares of Johnson & Johnson from a "neutral" rating to a "buy" rating and lifted their price target for the company from $157.00 to $172.00 in a report on Wednesday, April 9th. Raymond James Financial decreased their price target on shares of Johnson & Johnson from $165.00 to $162.00 and set an "outperform" rating on the stock in a report on Monday, April 14th. Finally, Leerink Partnrs lowered shares of Johnson & Johnson from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 13th. Nine analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Johnson & Johnson presently has an average rating of "Moderate Buy" and a consensus 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.