Palumbo Wealth Management LLC boosted its stake in Johnson & Johnson (NYSE:JNJ - Free Report) by 39.9% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 17,729 shares of the company's stock after buying an additional 5,059 shares during the quarter. Johnson & Johnson makes up about 1.0% of Palumbo Wealth Management LLC's holdings, making the stock its 29th biggest position. Palumbo Wealth Management LLC's holdings in Johnson & Johnson were worth $2,940,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Lantz Financial LLC lifted its stake in shares of Johnson & Johnson by 3.3% during the 1st quarter. Lantz Financial LLC now owns 11,974 shares of the company's stock worth $1,986,000 after purchasing an additional 377 shares during the period. Sulzberger Capital Advisors Inc. purchased a new position in shares of Johnson & Johnson during the 4th quarter worth $453,000. Horan Securities Inc. lifted its stake in shares of Johnson & Johnson by 1.3% during the 4th quarter. Horan Securities Inc. now owns 7,178 shares of the company's stock worth $1,038,000 after purchasing an additional 90 shares during the period. State of Wyoming lifted its stake in shares of Johnson & Johnson by 205,580.0% during the 4th quarter. State of Wyoming now owns 10,284 shares of the company's stock worth $1,487,000 after purchasing an additional 10,279 shares during the period. Finally, Range Financial Group LLC lifted its stake in shares of Johnson & Johnson by 18.9% during the 1st quarter. Range Financial Group LLC now owns 15,886 shares of the company's stock worth $2,635,000 after purchasing an additional 2,529 shares during the period. Hedge funds and other institutional investors own 69.55% of the company's stock.
Johnson & Johnson Stock Up 0.1%
NYSE JNJ traded up $0.14 during trading hours on Wednesday, hitting $152.33. The company had a trading volume of 7,149,773 shares, compared to its average volume of 8,004,092. Johnson & Johnson has a fifty-two week low of $140.68 and a fifty-two week high of $169.99. The company has a market capitalization of $366.52 billion, a price-to-earnings ratio of 16.94, a P/E/G ratio of 2.31 and a beta of 0.42. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.26 and a quick ratio of 1.03. The firm's 50 day moving average is $153.95 and its 200 day moving average is $153.67.
Johnson & Johnson (NYSE:JNJ - Get Free Report) last announced its quarterly earnings results on Tuesday, April 15th. The company reported $2.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.59 by $0.18. The firm had revenue of $21.89 billion during the quarter, compared to the consensus estimate of $21.65 billion. Johnson & Johnson had a return on equity of 33.46% and a net margin of 24.42%. Sell-side analysts anticipate 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. Shareholders of record on Tuesday, May 27th were given a $1.30 dividend. This is a boost from Johnson & Johnson's previous quarterly dividend of $1.24. This represents a $5.20 dividend on an annualized basis and a yield of 3.41%. The ex-dividend date of this dividend was Tuesday, May 27th. Johnson & Johnson's dividend payout ratio is presently 57.84%.
Analyst Upgrades and Downgrades
A number of research analysts have weighed in on the company. Leerink Partnrs lowered Johnson & Johnson from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 13th. Bank of America reduced their price target on Johnson & Johnson from $171.00 to $159.00 and set a "neutral" rating on the stock in a research note on Thursday, April 10th. Benchmark upgraded Johnson & Johnson to a "strong-buy" rating in a report on Thursday, April 24th. Leerink Partners downgraded Johnson & Johnson from an "outperform" rating to a "market perform" rating and dropped their price objective for the stock from $169.00 to $153.00 in a report on Tuesday, May 13th. Finally, Guggenheim restated a "neutral" rating on shares of Johnson & Johnson in a report on Wednesday, April 2nd. Eleven analysts have rated the stock with a hold rating, seven have assigned a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat, Johnson & Johnson has a consensus rating of "Moderate Buy" and an average price target of $170.88.
Read Our Latest Analysis on Johnson & Johnson
Johnson & Johnson Company Profile
(
Free Report)
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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