OVERSEA CHINESE BANKING Corp Ltd Purchases 16,132 Shares of Johnson & Johnson (NYSE:JNJ)

Key Points

• OVERSEA CHINESE BANKING Corp Ltd increased its stake in Johnson & Johnson by 330.2% in Q1, acquiring an additional 16,132 shares, bringing its total holdings to 21,017 shares worth approximately $3.45 million.
• Johnson & Johnson reported a strong quarter with earnings per share of $2.77, exceeding analysts' expectations, and a revenue of $23.74 billion, a 5.8% increase compared to the previous year.
• The company announced a quarterly dividend of $1.30 per share, yielding around 3.1%, with the ex-dividend date set for August 26th.

OVERSEA CHINESE BANKING Corp Ltd increased its stake in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 330.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,017 shares of the company's stock after acquiring an additional 16,132 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd's holdings in Johnson & Johnson were worth $3,449,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Lantz Financial LLC boosted its stake in Johnson & Johnson by 3.3% during the first quarter. Lantz Financial LLC now owns 11,974 shares of the company's stock worth $1,986,000 after acquiring an additional 377 shares in the last quarter. Sulzberger Capital Advisors Inc. bought a new position in Johnson & Johnson during the fourth quarter worth $453,000. Joel Isaacson & Co. LLC boosted its stake in Johnson & Johnson by 3.5% during the first quarter. Joel Isaacson & Co. LLC now owns 74,132 shares of the company's stock worth $12,294,000 after acquiring an additional 2,526 shares in the last quarter. State of Wyoming boosted its stake in Johnson & Johnson by 205,580.0% during the fourth quarter. State of Wyoming now owns 10,284 shares of the company's stock worth $1,487,000 after acquiring an additional 10,279 shares in the last quarter. Finally, Range Financial Group LLC boosted its stake in Johnson & Johnson by 18.9% during the first quarter. Range Financial Group LLC now owns 15,886 shares of the company's stock worth $2,635,000 after acquiring an additional 2,529 shares in the last quarter. 69.55% of the stock is owned by institutional investors.

Johnson & Johnson Stock Performance

Shares of JNJ stock opened at $167.33 on Friday. The firm has a 50-day moving average of $157.46 and a 200-day moving average of $156.68. The company has a market cap of $402.99 billion, a P/E ratio of 17.90, a P/E/G ratio of 2.13 and a beta of 0.41. 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 one year low of $140.68 and a one year high of $169.99.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last posted its quarterly earnings data 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 net margin of 25.00% and a return on equity of 32.49%. The business had revenue of $23.74 billion during the quarter, compared to the consensus estimate of $22.85 billion. During the same quarter last year, the company posted $2.82 earnings per share. The firm's quarterly revenue was up 5.8% compared to the same quarter last year. Equities research analysts forecast that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Raymond James Financial dropped their price objective on shares of Johnson & Johnson from $165.00 to $162.00 and set an "outperform" rating on the stock in a research note on Monday, April 14th. Barclays raised their price objective on shares of Johnson & Johnson from $165.00 to $176.00 and gave the company an "equal weight" rating in a research note on Thursday, July 17th. Leerink Partners lowered shares of Johnson & Johnson from an "outperform" rating to a "market perform" rating and dropped their price objective for the company from $169.00 to $153.00 in a research note on Tuesday, May 13th. Morgan Stanley raised their price objective on shares of Johnson & Johnson from $171.00 to $176.00 and gave the company an "equal weight" rating in a research note on Thursday, July 17th. Finally, Guggenheim reaffirmed a "neutral" rating and issued a $167.00 price objective (up from $164.00) on shares of Johnson & Johnson in a research note on Thursday, July 17th. Nine 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. According to MarketBeat, Johnson & Johnson presently has an average rating of "Moderate Buy" and an average 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.

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