Seven Mile Advisory Acquires 1,690 Shares of Johnson & Johnson $JNJ

Key Points

• Seven Mile Advisory increased its stake in Johnson & Johnson by 38.8%, acquiring an additional 1,690 shares and bringing its total holdings to 6,047 shares, valued at approximately $1 million.
• Johnson & Johnson reported $2.77 earnings per share for the last quarter, exceeding analysts' expectations, with a revenue of $23.74 billion.
• The company declared a quarterly $1.30 dividend, reflecting a 2.9% yield, set to be paid on September 9th, with a current dividend payout ratio of 55.61%.

Seven Mile Advisory lifted its holdings in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 38.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,047 shares of the company's stock after purchasing an additional 1,690 shares during the period. Johnson & Johnson comprises approximately 0.7% of Seven Mile Advisory's investment portfolio, making the stock its 28th largest holding. Seven Mile Advisory's holdings in Johnson & Johnson were worth $1,003,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Highline Wealth Partners LLC grew its holdings in Johnson & Johnson by 51.8% during the 1st quarter. Highline Wealth Partners LLC now owns 252 shares of the company's stock valued at $42,000 after buying an additional 86 shares in the last quarter. Stone House Investment Management LLC purchased a new position in Johnson & Johnson during the 1st quarter valued at about $47,000. von Borstel & Associates Inc. purchased a new position in Johnson & Johnson during the 1st quarter valued at about $49,000. Capital A Wealth Management LLC purchased a new position in Johnson & Johnson during the 4th quarter valued at about $50,000. Finally, Harvest Fund Management Co. Ltd purchased a new position in Johnson & Johnson during the 1st quarter valued at about $52,000. 69.55% of the stock is currently owned by institutional investors.

Johnson & Johnson Trading Down 0.2%

Shares of JNJ traded down $0.38 during mid-day trading on Monday, reaching $176.26. The company's stock had a trading volume of 9,283,816 shares, compared to its average volume of 8,411,460. The stock has a market cap of $424.49 billion, a PE ratio of 18.85, a P/E/G ratio of 2.25 and a beta of 0.41. The company has a current ratio of 1.01, a quick ratio of 0.76 and a debt-to-equity ratio of 0.50. Johnson & Johnson has a 52 week low of $140.68 and a 52 week high of $177.57. The company's fifty day moving average price is $161.70 and its two-hundred day moving average price is $158.60.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last announced 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. Johnson & Johnson had a return on equity of 32.49% and a net margin of 25.00%. The firm had revenue of $23.74 billion during the quarter, compared to the consensus estimate of $22.85 billion. During the same quarter in the previous year, the company posted $2.82 earnings per share. The business's revenue was up 5.8% on a year-over-year basis. On average, analysts predict that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 9th. Shareholders of record on Tuesday, August 26th will be given a $1.30 dividend. The ex-dividend date is Tuesday, August 26th. This represents a $5.20 annualized dividend and a yield of 3.0%. Johnson & Johnson's payout ratio is presently 55.61%.

Analyst Ratings Changes

JNJ has been the subject of a number of recent analyst reports. Royal Bank Of Canada lifted their target price on Johnson & Johnson from $181.00 to $185.00 and gave the company an "outperform" rating in a report on Thursday, July 17th. Leerink Partnrs downgraded Johnson & Johnson from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 13th. Wall Street Zen downgraded Johnson & Johnson from a "strong-buy" rating to a "buy" rating in a research report on Friday, July 18th. Guggenheim reiterated a "neutral" rating and set a $167.00 price target (up previously from $164.00) on shares of Johnson & Johnson in a research report on Thursday, July 17th. Finally, Leerink Partners downgraded Johnson & Johnson from an "outperform" rating to a "market perform" rating and dropped their price target for the company from $169.00 to $153.00 in a research report on Tuesday, May 13th. Nine 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 stock. According to MarketBeat, Johnson & Johnson currently has a consensus rating of "Moderate Buy" and a consensus target price of $174.50.

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.