QRG Capital Management Inc. Purchases 16,454 Shares of Johnson & Johnson (NYSE:JNJ)

QRG Capital Management Inc. grew its holdings in Johnson & Johnson (NYSE:JNJ - Free Report) by 3.4% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 497,400 shares of the company's stock after buying an additional 16,454 shares during the quarter. Johnson & Johnson makes up about 0.9% of QRG Capital Management Inc.'s investment portfolio, making the stock its 17th largest holding. QRG Capital Management Inc.'s holdings in Johnson & Johnson were worth $82,489,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. WealthTrak Capital Management LLC purchased a new stake in Johnson & Johnson in the 4th quarter worth approximately $26,000. Mountain Hill Investment Partners Corp. purchased a new stake in Johnson & Johnson in the 4th quarter worth approximately $29,000. Conquis Financial LLC purchased a new stake in Johnson & Johnson in the 4th quarter worth approximately $33,000. Bernard Wealth Management Corp. purchased a new stake in Johnson & Johnson in the 4th quarter worth approximately $36,000. Finally, Runnymede Capital Advisors Inc. purchased a new stake in Johnson & Johnson in the 4th quarter worth approximately $38,000. Hedge funds and other institutional investors own 69.55% of the company's stock.

Johnson & Johnson Stock Down 1.1%

Shares of Johnson & Johnson stock traded down $1.61 on Wednesday, reaching $150.77. The company's stock had a trading volume of 8,323,506 shares, compared to its average volume of 7,967,131. The company has a market capitalization of $362.76 billion, a price-to-earnings ratio of 16.77, a P/E/G ratio of 2.31 and a beta of 0.42. The firm's fifty day simple moving average is $154.03 and its two-hundred day simple moving average is $153.69. Johnson & Johnson has a 52 week low of $140.68 and a 52 week high of $169.99. The company has a quick ratio of 1.03, a current ratio of 1.26 and a debt-to-equity ratio of 0.49.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last posted its 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. The business had revenue of $21.89 billion during the quarter, compared to analyst estimates of $21.65 billion. Johnson & Johnson had a return on equity of 33.46% and a net margin of 24.42%. Equities analysts anticipate that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Tuesday, May 27th were issued a $1.30 dividend. The ex-dividend date of this dividend was Tuesday, May 27th. This represents a $5.20 annualized dividend and a dividend yield of 3.45%. This is a positive change from Johnson & Johnson's previous quarterly dividend of $1.24. Johnson & Johnson's payout ratio is presently 57.84%.

Wall Street Analyst Weigh In

JNJ has been the subject of a number of research analyst reports. The Goldman Sachs Group upgraded Johnson & Johnson from a "neutral" rating to a "buy" rating and raised their target price for the company from $157.00 to $172.00 in a research note on Wednesday, April 9th. Bank of America lowered their target price on Johnson & Johnson from $171.00 to $159.00 and set a "neutral" rating for the company in a research note on Thursday, April 10th. Barclays lowered their target price on Johnson & Johnson from $166.00 to $165.00 and set an "equal weight" rating for the company in a research note on Thursday, April 17th. Leerink Partners cut Johnson & Johnson from an "outperform" rating to a "market perform" rating and lowered their target price for the company from $169.00 to $153.00 in a research note on Tuesday, May 13th. Finally, Wall Street Zen cut Johnson & Johnson from a "strong-buy" rating to a "buy" rating in a research note on Thursday, May 22nd. Eleven equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $170.88.

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.