Raymond James Financial Inc. Acquires 203,291 Shares of Johnson & Johnson (NYSE:JNJ)

Key Points

• Raymond James Financial Inc. increased its holdings in Johnson & Johnson (NYSE: JNJ) by 2.2%, acquiring an additional 203,291 shares during the first quarter, bringing its total holdings to 9,468,114 shares.
• Johnson & Johnson's stock rose 1.2%, with a current price of $176.76, and the company reported $2.77 EPS for the last quarter, exceeding analysts' expectations of $2.68.
• The company declared a quarterly dividend of $1.30 per share, representing a 2.9% yield, scheduled to be paid on September 9th to shareholders of record on August 26th.

Raymond James Financial Inc. increased its holdings in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 2.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,468,114 shares of the company's stock after acquiring an additional 203,291 shares during the period. Johnson & Johnson makes up 0.6% of Raymond James Financial Inc.'s investment portfolio, making the stock its 22nd largest holding. Raymond James Financial Inc. owned about 0.39% of Johnson & Johnson worth $1,570,192,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the business. Highline Wealth Partners LLC raised its holdings in Johnson & Johnson by 51.8% in the first quarter. Highline Wealth Partners LLC now owns 252 shares of the company's stock worth $42,000 after buying an additional 86 shares during the last quarter. Stone House Investment Management LLC purchased a new position in Johnson & Johnson in the first quarter worth about $47,000. von Borstel & Associates Inc. purchased a new position in Johnson & Johnson in the first quarter worth about $49,000. Capital A Wealth Management LLC purchased a new position in Johnson & Johnson in the fourth quarter worth about $50,000. Finally, Harvest Fund Management Co. Ltd purchased a new position in Johnson & Johnson in the first quarter worth about $52,000. Institutional investors own 69.55% of the company's stock.

Johnson & Johnson Stock Up 1.2%

NYSE:JNJ opened at $176.76 on Friday. Johnson & Johnson has a fifty-two week low of $140.68 and a fifty-two week high of $177.27. The stock has a market capitalization of $425.70 billion, a P/E ratio of 18.90, a P/E/G ratio of 2.23 and a beta of 0.41. 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's 50-day simple moving average is $161.28 and its 200-day simple moving average is $158.34.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last released its earnings results on Wednesday, July 16th. The company reported $2.77 EPS for the quarter, topping analysts' consensus estimates of $2.68 by $0.09. The company 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%. Johnson & Johnson's revenue for the quarter was up 5.8% on a year-over-year basis. During the same period last year, the business earned $2.82 EPS. On average, equities analysts anticipate that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 9th. Shareholders of record on Tuesday, August 26th will be given a dividend of $1.30 per share. The ex-dividend date of this dividend is Tuesday, August 26th. This represents a $5.20 dividend on an annualized basis and a yield of 2.9%. Johnson & Johnson's dividend payout ratio (DPR) is currently 55.61%.

Analysts Set New Price Targets

JNJ has been the subject of several research reports. Guggenheim reissued 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. Bank of America upped their price target on shares of Johnson & Johnson from $161.00 to $175.00 and gave the stock a "neutral" rating in a research report on Thursday, July 17th. Royal Bank Of Canada upped their price target on shares of Johnson & Johnson from $181.00 to $185.00 and gave the stock an "outperform" rating in a research report on Thursday, July 17th. Benchmark upgraded shares of Johnson & Johnson to a "strong-buy" rating in a research report on Thursday, April 24th. Finally, Leerink Partners lowered shares of Johnson & Johnson from an "outperform" rating to a "market perform" rating and dropped their target price for the stock from $169.00 to $153.00 in a research report on Tuesday, May 13th. Nine investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $174.50.

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.

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