Johnson & Johnson (NYSE:JNJ) Shares Bought by Portside Wealth Group LLC

Portside Wealth Group LLC boosted its stake in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 13.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 14,988 shares of the company's stock after buying an additional 1,734 shares during the quarter. Portside Wealth Group LLC's holdings in Johnson & Johnson were worth $2,486,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. WealthTrak Capital Management LLC acquired a new stake in shares of Johnson & Johnson in the fourth quarter valued at approximately $26,000. Mountain Hill Investment Partners Corp. purchased a new position in Johnson & Johnson in the 4th quarter valued at about $29,000. Bay Harbor Wealth Management LLC acquired a new position in shares of Johnson & Johnson in the fourth quarter valued at approximately $32,000. Conquis Financial LLC purchased a new position in shares of Johnson & Johnson during the fourth quarter valued at approximately $33,000. Finally, Bernard Wealth Management Corp. acquired a new stake in Johnson & Johnson during the fourth quarter worth approximately $36,000. 69.55% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

JNJ has been the topic of a number of recent analyst reports. Morgan Stanley increased their price target on Johnson & Johnson from $164.00 to $169.00 and gave the stock an "equal weight" rating in a research note on Wednesday, April 16th. Leerink Partnrs downgraded Johnson & Johnson from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 13th. Raymond James decreased their price target on 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 lowered their price target on Johnson & Johnson from $166.00 to $165.00 and set an "equal weight" rating for the company in a report on Thursday, April 17th. Finally, Benchmark upgraded shares of Johnson & Johnson to a "strong-buy" rating in a report on Thursday, April 24th. Eleven investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $170.88.

Johnson & Johnson Stock Up 0.9%

Shares of JNJ stock traded up $1.36 during mid-day trading on Friday, reaching $155.02. 3,380,982 shares of the company were exchanged, compared to its average volume of 7,926,799. Johnson & Johnson has a fifty-two week low of $140.68 and a fifty-two week high of $169.99. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.86 and a current ratio of 1.11. The company has a market capitalization of $372.99 billion, a P/E ratio of 23.31, a P/E/G ratio of 2.56 and a beta of 0.42. The business's 50 day simple moving average is $153.56 and its 200 day simple moving average is $153.67.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last posted its quarterly earnings results on Tuesday, April 15th. The company reported $2.77 EPS for the quarter, topping analysts' consensus estimates of $2.59 by $0.18. Johnson & Johnson had a return on equity of 34.24% and a net margin of 18.20%. The business had revenue of $21.89 billion during the quarter, compared to the consensus estimate of $21.65 billion. Research analysts predict that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Tuesday, May 27th will be given a dividend of $1.30 per share. This is a positive change from Johnson & Johnson's previous quarterly dividend of $1.24. This represents a $5.20 annualized dividend and a dividend yield of 3.35%. The ex-dividend date of this dividend is Tuesday, May 27th. Johnson & Johnson's dividend payout ratio is currently 57.84%.

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.