Narwhal Capital Management Has $17.07 Million Position in Johnson & Johnson (NYSE:JNJ)

Narwhal Capital Management lifted its stake in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 2.9% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 102,924 shares of the company's stock after buying an additional 2,908 shares during the quarter. Johnson & Johnson comprises about 1.5% of Narwhal Capital Management's portfolio, making the stock its 18th largest holding. Narwhal Capital Management's holdings in Johnson & Johnson were worth $17,069,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. increased its position in Johnson & Johnson by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 232,792,559 shares of the company's stock worth $33,666,460,000 after buying an additional 1,772,706 shares during the period. Geode Capital Management LLC grew its stake in shares of Johnson & Johnson by 2.8% in the fourth quarter. Geode Capital Management LLC now owns 57,667,920 shares of the company's stock valued at $8,321,881,000 after acquiring an additional 1,561,036 shares in the last quarter. Northern Trust Corp increased its position in Johnson & Johnson by 12.3% during the fourth quarter. Northern Trust Corp now owns 30,813,175 shares of the company's stock worth $4,456,201,000 after acquiring an additional 3,363,235 shares during the period. Norges Bank bought a new stake in Johnson & Johnson in the 4th quarter valued at about $4,390,037,000. Finally, 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 worth $3,522,447,000 after purchasing an additional 431,205 shares in the last quarter. Institutional investors own 69.55% of the company's stock.

Johnson & Johnson Trading Up 0.6%

JNJ opened at $152.27 on Wednesday. The company's 50 day moving average is $153.99 and its 200-day moving average is $153.68. The company has a market cap of $366.36 billion, a P/E ratio of 16.94, a PEG ratio of 2.29 and a beta of 0.42. Johnson & Johnson has a 1-year low of $140.68 and a 1-year high of $169.99. The company has a current ratio of 1.26, a quick ratio of 1.03 and a debt-to-equity ratio of 0.49.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last issued its earnings results on Tuesday, April 15th. The company reported $2.77 earnings per share for the quarter, beating analysts' consensus estimates of $2.59 by $0.18. The firm had revenue of $21.89 billion for the quarter, compared to analyst estimates of $21.65 billion. Johnson & Johnson had a net margin of 24.42% and a return on equity of 33.46%. Equities research analysts predict that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Tuesday, May 27th were given a dividend of $1.30 per share. The ex-dividend date was Tuesday, May 27th. This represents a $5.20 dividend on an annualized basis and a yield of 3.42%. This is a positive change from Johnson & Johnson's previous quarterly dividend of $1.24. Johnson & Johnson's payout ratio is currently 57.84%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on JNJ. Leerink Partners cut Johnson & Johnson from an "outperform" rating to a "market perform" rating and cut their price target for the company from $169.00 to $153.00 in a research note on Tuesday, May 13th. Raymond James Financial dropped their price objective on Johnson & Johnson from $165.00 to $162.00 and set an "outperform" rating for the company in a report on Monday, April 14th. Sanford C. Bernstein reissued a "market perform" rating on shares of Johnson & Johnson in a report on Wednesday, April 16th. Benchmark raised Johnson & Johnson to a "strong-buy" rating in a research note on Thursday, April 24th. Finally, Guggenheim reiterated a "neutral" rating on shares of Johnson & Johnson in a research note on Wednesday, April 2nd. Eleven equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $170.88.

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.

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