Mullooly Asset Management Inc. Acquires Shares of 1,737 Johnson & Johnson (NYSE:JNJ)

Key Points

• Mullooly Asset Management Inc. acquired 1,737 shares of Johnson & Johnson worth approximately $288,000 in the first quarter of the year.
• Institutions currently hold 69.55% of Johnson & Johnson's stock, with notable increases in stakes from companies like Northern Trust Corp and Bank of New York Mellon Corp.
• Johnson & Johnson reported earnings of $2.77 per share, beating estimates by $0.09, alongside a strong revenue performance of $23.74 billion for the quarter.

Mullooly Asset Management Inc. purchased a new position in Johnson & Johnson (NYSE:JNJ - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 1,737 shares of the company's stock, valued at approximately $288,000.

A number of other institutional investors have also added to or reduced their stakes in JNJ. Conquis Financial LLC bought a new position in shares of Johnson & Johnson during the 4th quarter valued at approximately $33,000. Bernard Wealth Management Corp. bought a new position in Johnson & Johnson during the fourth quarter valued at $36,000. Highline Wealth Partners LLC grew its stake in shares of Johnson & Johnson by 51.8% in the 1st quarter. Highline Wealth Partners LLC now owns 252 shares of the company's stock worth $42,000 after buying an additional 86 shares in the last quarter. von Borstel & Associates Inc. bought a new stake in shares of Johnson & Johnson in the 1st quarter worth about $49,000. Finally, Harvest Fund Management Co. Ltd bought a new position in shares of Johnson & Johnson in the 1st quarter valued at about $52,000. 69.55% of the stock is owned by hedge funds and other institutional investors.

Johnson & Johnson Stock Up 2.2%

Johnson & Johnson stock traded up $3.75 during trading hours on Monday, reaching $171.08. The stock had a trading volume of 12,677,035 shares, compared to its average volume of 8,831,392. The business's 50 day moving average price is $157.46 and its 200-day moving average price is $156.74. 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 52 week low of $140.68 and a 52 week high of $171.19. The company has a market cap of $412.02 billion, a price-to-earnings ratio of 18.30, a PEG ratio of 2.13 and a beta of 0.41.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last issued its quarterly 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. 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 period in the prior year, the firm posted $2.82 earnings per share. The business's quarterly revenue was up 5.8% on a year-over-year basis. Sell-side analysts anticipate that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Dividend Announcement

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 paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 3.0%. The ex-dividend date is Tuesday, August 26th. Johnson & Johnson's payout ratio is presently 55.61%.

Analyst Ratings Changes

JNJ has been the topic of a number of recent research reports. Leerink Partners downgraded Johnson & Johnson from an "outperform" rating to a "market perform" rating and decreased their price objective for the company from $169.00 to $153.00 in a research report on Tuesday, May 13th. UBS Group lifted their price objective on shares of Johnson & Johnson from $180.00 to $190.00 and gave the stock a "buy" rating in a research note on Thursday, July 17th. Erste Group Bank upgraded shares of Johnson & Johnson from a "hold" rating to a "buy" rating in a report on Wednesday, July 23rd. Barclays upped their price target on shares of Johnson & Johnson from $165.00 to $176.00 and gave the company an "equal weight" rating in a report on Thursday, July 17th. Finally, Morgan Stanley boosted their target price on Johnson & Johnson from $171.00 to $176.00 and gave the company an "equal weight" rating in a research report on Thursday, July 17th. Nine investment 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's stock. According to data from MarketBeat, Johnson & Johnson presently has a consensus rating of "Moderate Buy" and an average price target of $174.50.

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.