Johnson & Johnson (NYSE:JNJ) Shares Bought by Nemes Rush Group LLC

Key Points

• Nemes Rush Group LLC increased its stake in Johnson & Johnson by 10.6%, now holding a total of 61,879 shares valued at approximately $10.26 million.
• Several institutional investors have made significant stock purchases, including GAMMA Investing LLC which grew its holdings by 24,450.4%, now owning over 7.2 million shares.
• Johnson & Johnson reported a quarterly EPS of $2.77, exceeding expectations, alongside a 5.8% increase in quarterly revenue year-over-year.

Nemes Rush Group LLC lifted its position in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 10.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 61,879 shares of the company's stock after purchasing an additional 5,925 shares during the period. Johnson & Johnson comprises 1.3% of Nemes Rush Group LLC's investment portfolio, making the stock its 28th largest holding. Nemes Rush Group LLC's holdings in Johnson & Johnson were worth $10,262,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Ridgewood Investments LLC raised its position in shares of Johnson & Johnson by 10.2% during the first quarter. Ridgewood Investments LLC now owns 4,821 shares of the company's stock worth $800,000 after purchasing an additional 448 shares during the period. Horan Capital Advisors LLC. boosted its stake in Johnson & Johnson by 1.3% in the 1st quarter. Horan Capital Advisors LLC. now owns 18,305 shares of the company's stock worth $3,036,000 after purchasing an additional 228 shares during the period. LPL Financial LLC boosted its stake in Johnson & Johnson by 8.5% in the 1st quarter. LPL Financial LLC now owns 4,298,916 shares of the company's stock worth $712,932,000 after purchasing an additional 336,055 shares during the period. Alteri Wealth LLC raised its holdings in shares of Johnson & Johnson by 2.6% in the 1st quarter. Alteri Wealth LLC now owns 7,287 shares of the company's stock valued at $1,209,000 after acquiring an additional 187 shares in the last quarter. Finally, MRP Capital Investments LLC raised its holdings in shares of Johnson & Johnson by 76.8% in the 1st quarter. MRP Capital Investments LLC now owns 2,900 shares of the company's stock valued at $481,000 after acquiring an additional 1,260 shares in the last quarter. 69.55% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Benchmark raised Johnson & Johnson to a "strong-buy" rating in a report on Thursday, April 24th. Piper Sandler reiterated an "overweight" rating on shares of Johnson & Johnson in a research note on Thursday, July 17th. Leerink Partnrs lowered Johnson & Johnson from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 13th. Raymond James Financial cut their price target on Johnson & Johnson from $165.00 to $162.00 and set an "outperform" rating for the company in a report on Monday, April 14th. Finally, Royal Bank Of Canada boosted their price target on Johnson & Johnson from $181.00 to $185.00 and gave the company an "outperform" rating in a report on Thursday, July 17th. Nine investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $174.50.

Johnson & Johnson Stock Down 1.1%

Shares of Johnson & Johnson stock traded down $1.85 during trading hours on Thursday, reaching $165.41. 4,547,807 shares of the company were exchanged, compared to its average volume of 9,028,843. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.76 and a current ratio of 1.01. The stock's fifty day moving average is $156.93 and its 200 day moving average is $156.30. The firm has a market cap of $398.35 billion, a PE ratio of 17.69, a PEG ratio of 2.14 and a beta of 0.41. Johnson & Johnson has a 1 year low of $140.68 and a 1 year high of $169.99.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last released its quarterly earnings data on Wednesday, July 16th. The company reported $2.77 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $22.85 billion. During the same quarter in the prior year, the firm posted $2.82 earnings per share. Johnson & Johnson's revenue for the quarter was up 5.8% on a year-over-year basis. As a group, equities research analysts forecast that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 9th. Shareholders of record on Tuesday, August 26th will be issued a $1.30 dividend. The ex-dividend date of this dividend is Tuesday, August 26th. This represents a $5.20 dividend on an annualized basis and a yield of 3.14%. Johnson & Johnson's dividend payout ratio (DPR) 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.