RedJay Asset Management Inc. Takes Position in Johnson & Johnson (NYSE:JNJ)

RedJay Asset Management Inc. acquired a new stake in shares of Johnson & Johnson (NYSE:JNJ - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,000 shares of the company's stock, valued at approximately $1,658,000.

Several other institutional investors have also recently made changes to their positions in JNJ. WealthTrak Capital Management LLC acquired a new position in shares of Johnson & Johnson during the fourth quarter valued at about $26,000. Mountain Hill Investment Partners Corp. bought a new position in Johnson & Johnson in the 4th quarter valued at about $29,000. Conquis Financial LLC acquired a new position in Johnson & Johnson during the 4th quarter valued at about $33,000. Bernard Wealth Management Corp. bought a new stake in Johnson & Johnson during the 4th quarter worth approximately $36,000. Finally, Highline Wealth Partners LLC raised its stake in shares of 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 purchasing an additional 86 shares during the last quarter. Institutional investors and hedge funds own 69.55% of the company's stock.

Johnson & Johnson Price Performance

JNJ traded up $0.34 during trading on Thursday, reaching $155.90. 3,482,521 shares of the company were exchanged, compared to its average volume of 8,027,945. Johnson & Johnson has a 12-month low of $140.68 and a 12-month high of $169.99. The company's 50-day moving average is $153.63 and its two-hundred day moving average is $153.88. 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 market cap of $375.11 billion, a price-to-earnings ratio of 17.34, a P/E/G ratio of 2.36 and a beta of 0.41.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last posted its earnings results on Tuesday, April 15th. The company reported $2.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.59 by $0.18. The business had revenue of $21.89 billion for the quarter, compared to analysts' expectations of $21.65 billion. Johnson & Johnson had a net margin of 24.42% and a return on equity of 33.46%. Research analysts forecast that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Tuesday, May 27th were given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.34%. The ex-dividend date was Tuesday, May 27th. This is an increase from Johnson & Johnson's previous quarterly dividend of $1.24. Johnson & Johnson's dividend payout ratio (DPR) is 57.84%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on JNJ shares. The Goldman Sachs Group upgraded Johnson & Johnson from a "neutral" rating to a "buy" rating and upped their price target for the stock from $157.00 to $172.00 in a report on Wednesday, April 9th. Sanford C. Bernstein reiterated a "market perform" rating on shares of Johnson & Johnson in a research note on Wednesday, April 16th. Raymond James Financial dropped their price target on shares of Johnson & Johnson from $165.00 to $162.00 and set an "outperform" rating on the stock in a research report on Monday, April 14th. Benchmark raised 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 decreased their price objective for the company from $169.00 to $153.00 in a research note on Tuesday, May 13th. Eleven equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $170.88.

About Johnson & Johnson

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.