Stonebridge Financial Group LLC Has $6.17 Million Stock Position in Johnson & Johnson (NYSE:JNJ)

Stonebridge Financial Group LLC lifted its holdings in Johnson & Johnson (NYSE:JNJ - Free Report) by 11.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 37,171 shares of the company's stock after purchasing an additional 3,860 shares during the period. Stonebridge Financial Group LLC's holdings in Johnson & Johnson were worth $6,165,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the business. Norges Bank bought a new position in shares of Johnson & Johnson during the 4th quarter worth about $4,390,037,000. Raymond James Financial Inc. bought a new stake in shares of Johnson & Johnson in the 4th quarter worth approximately $1,339,878,000. GAMMA Investing LLC grew its holdings 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 in the last quarter. Janus Henderson Group PLC increased its position in shares of Johnson & Johnson by 134.5% during the fourth quarter. Janus Henderson Group PLC now owns 7,948,508 shares of the company's stock valued at $1,149,536,000 after purchasing an additional 4,559,147 shares during the period. Finally, Northern Trust Corp raised its stake in shares of Johnson & Johnson by 12.3% in the fourth quarter. Northern Trust Corp now owns 30,813,175 shares of the company's stock valued at $4,456,201,000 after purchasing an additional 3,363,235 shares in the last quarter. Institutional investors own 69.55% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on JNJ shares. The Goldman Sachs Group upgraded shares of Johnson & Johnson from a "neutral" rating to a "buy" rating and lifted their target price for the company from $157.00 to $172.00 in a research report on Wednesday, April 9th. Wall Street Zen upgraded shares of Johnson & Johnson from a "buy" rating to a "strong-buy" rating in a research note on Saturday, June 21st. Benchmark upgraded shares of Johnson & Johnson to a "strong-buy" rating in a research report on Thursday, April 24th. Morgan Stanley raised their price objective on shares of Johnson & Johnson from $164.00 to $169.00 and gave the stock an "equal weight" rating in a report on Wednesday, April 16th. Finally, Leerink Partnrs cut Johnson & Johnson from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 13th. Eleven investment analysts have rated the stock with a hold rating, seven have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $170.88.

Johnson & Johnson Trading Up 0.2%

Shares of NYSE:JNJ traded up $0.34 during mid-day trading on Friday, reaching $155.90. The stock had a trading volume of 3,482,521 shares, compared to its average volume of 8,047,072. Johnson & Johnson has a twelve month low of $140.68 and a twelve month high of $169.99. The company has a current ratio of 1.26, a quick ratio of 1.03 and a debt-to-equity ratio of 0.49. The firm has a market cap of $375.11 billion, a PE ratio of 17.34, a price-to-earnings-growth ratio of 2.35 and a beta of 0.41. The firm has a 50 day simple moving average of $153.65 and a two-hundred day simple moving average of $153.96.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last posted its earnings results on Tuesday, April 15th. The company reported $2.77 earnings per share for the quarter, topping the consensus estimate of $2.59 by $0.18. The firm had revenue of $21.89 billion for 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%. On average, research analysts predict that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Increases Dividend

The company also recently disclosed 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 is a boost from Johnson & Johnson's previous quarterly dividend of $1.24. This represents a $5.20 annualized dividend and a dividend yield of 3.34%. The ex-dividend date was Tuesday, May 27th. Johnson & Johnson's dividend payout ratio is currently 57.84%.

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.