Private Management Group Inc. Purchases 5,271 Shares of Johnson & Johnson (NYSE:JNJ)

Key Points

• Private Management Group Inc. increased its stake in Johnson & Johnson by 3.6%, acquiring an additional 5,271 shares, bringing its total ownership to 151,370 shares, valued at $25,103,000.
• Johnson & Johnson reported $2.77 earnings per share for the quarter, exceeding estimates, with a revenue of $23.74 billion, up 5.8% from the prior year.
• The company declared a quarterly dividend of $1.30 per share, contributing to an annualized dividend yield of 3.07% and a payout ratio of 55.61%.

Private Management Group Inc. increased its position in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 3.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 151,370 shares of the company's stock after acquiring an additional 5,271 shares during the quarter. Private Management Group Inc.'s holdings in Johnson & Johnson were worth $25,103,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in JNJ. Norges Bank acquired a new position in shares of Johnson & Johnson during the 4th quarter worth $4,390,037,000. GAMMA Investing LLC increased its stake 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 purchasing an additional 7,185,977 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Johnson & Johnson by 26.4% during the 1st quarter. Bank of New York Mellon Corp now owns 23,182,464 shares of the company's stock worth $3,844,580,000 after purchasing an additional 4,842,582 shares during the last quarter. Janus Henderson Group PLC increased its stake in shares of Johnson & Johnson by 134.5% during the 4th quarter. Janus Henderson Group PLC now owns 7,948,508 shares of the company's stock worth $1,149,536,000 after purchasing an additional 4,559,147 shares during the last quarter. Finally, Northern Trust Corp increased its stake in shares of Johnson & Johnson by 12.3% during the 4th quarter. Northern Trust Corp now owns 30,813,175 shares of the company's stock worth $4,456,201,000 after purchasing an additional 3,363,235 shares during the last quarter. Institutional investors and hedge funds own 69.55% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on JNJ shares. Barclays increased their price target on shares of Johnson & Johnson from $165.00 to $176.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 17th. Bank of America upped their price objective on shares of Johnson & Johnson from $161.00 to $175.00 and gave the stock a "neutral" rating in a report on Thursday, July 17th. Wall Street Zen downgraded shares of Johnson & Johnson from a "strong-buy" rating to a "buy" rating in a report on Friday, July 18th. Guggenheim reaffirmed a "neutral" rating and set a $167.00 price objective (up from $164.00) on shares of Johnson & Johnson in a report on Thursday, July 17th. Finally, The Goldman Sachs Group raised shares of Johnson & Johnson from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $157.00 to $172.00 in a report on Wednesday, April 9th. Nine equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, Johnson & Johnson currently has an average rating of "Moderate Buy" and a consensus price target of $174.50.

Johnson & Johnson Price Performance

JNJ traded up $2.40 during midday trading on Tuesday, hitting $168.62. The company had a trading volume of 3,138,889 shares, compared to its average volume of 9,050,790. 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 company has a market capitalization of $405.71 billion, a PE ratio of 18.04, a P/E/G ratio of 2.14 and a beta of 0.41. Johnson & Johnson has a twelve month low of $140.68 and a twelve month high of $169.99. The firm's 50-day simple moving average is $156.36 and its 200-day simple moving average is $156.14.

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 for the quarter, beating the consensus estimate of $2.68 by $0.09. The firm had revenue of $23.74 billion during the quarter, compared to analysts' expectations of $22.85 billion. Johnson & Johnson had a net margin of 25.00% and a return on equity of 32.49%. The company's quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter last year, the company posted $2.82 EPS. Equities research analysts predict that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 9th. Stockholders of record on Tuesday, August 26th will be paid a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 3.08%. The ex-dividend date of this dividend is Tuesday, August 26th. Johnson & Johnson's dividend payout ratio (DPR) is presently 55.61%.

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.