Pinnacle Financial Partners Inc Raises Holdings in Johnson & Johnson (NYSE:JNJ)

Pinnacle Financial Partners Inc increased its stake in Johnson & Johnson (NYSE:JNJ - Free Report) by 13.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 189,291 shares of the company's stock after buying an additional 22,991 shares during the period. Pinnacle Financial Partners Inc's holdings in Johnson & Johnson were worth $31,146,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in shares of Johnson & Johnson during the fourth quarter worth approximately $4,390,037,000. Raymond James Financial Inc. purchased a new stake in shares of Johnson & Johnson in the 4th quarter worth $1,339,878,000. GAMMA Investing LLC grew its position in shares of Johnson & Johnson by 24,450.4% during the 1st quarter. GAMMA Investing LLC now owns 7,215,367 shares of the company's stock worth $1,196,596,000 after buying an additional 7,185,977 shares in the last quarter. Janus Henderson Group PLC increased its stake in shares of Johnson & Johnson by 134.5% during the fourth quarter. Janus Henderson Group PLC now owns 7,948,508 shares of the company's stock valued at $1,149,536,000 after buying an additional 4,559,147 shares during the period. Finally, Northern Trust Corp raised its holdings in shares of Johnson & Johnson by 12.3% in the fourth quarter. Northern Trust Corp now owns 30,813,175 shares of the company's stock valued at $4,456,201,000 after acquiring an additional 3,363,235 shares in the last quarter. Institutional investors own 69.55% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on JNJ shares. Raymond James Financial dropped their target price on shares of Johnson & Johnson from $165.00 to $162.00 and set an "outperform" rating on the stock in a report on Monday, April 14th. Guggenheim reissued a "neutral" rating on shares of Johnson & Johnson in a report on Wednesday, April 2nd. Leerink Partners downgraded shares of Johnson & Johnson from an "outperform" rating to a "market perform" rating and reduced their price objective for the stock from $169.00 to $153.00 in a research note on Tuesday, May 13th. Morgan Stanley increased their target price on Johnson & Johnson from $164.00 to $169.00 and gave the company an "equal weight" rating in a research report on Wednesday, April 16th. Finally, The Goldman Sachs Group upgraded Johnson & Johnson from a "neutral" rating to a "buy" rating and lifted their price target for the company from $157.00 to $172.00 in a report on Wednesday, April 9th. Eleven analysts have rated the stock with a hold rating, seven have issued a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $170.88.

Johnson & Johnson Stock Up 0.2%

Shares of Johnson & Johnson stock traded up $0.34 during trading on Friday, reaching $155.90. The company's stock had a trading volume of 3,482,521 shares, compared to its average volume of 8,047,072. The company has a market cap of $375.11 billion, a price-to-earnings ratio of 17.34, a P/E/G ratio of 2.35 and a beta of 0.41. The company has a quick ratio of 1.03, a current ratio of 1.26 and a debt-to-equity ratio of 0.49. The company has a 50-day simple moving average of $153.65 and a two-hundred day simple moving average of $153.96. 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 announced its quarterly earnings data on Tuesday, April 15th. The company reported $2.77 EPS for the quarter, beating the consensus estimate of $2.59 by $0.18. Johnson & Johnson had a net margin of 24.42% and a return on equity of 33.46%. The business had revenue of $21.89 billion during the quarter, compared to analysts' expectations of $21.65 billion. As a group, equities analysts forecast that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders 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 3.34%. This is an increase from Johnson & Johnson's previous quarterly dividend of $1.24. Johnson & Johnson's dividend payout ratio is currently 57.84%.

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.