Johnson & Johnson (NYSE:JNJ) Shares Purchased by Townsquare Capital LLC

Key Points

• Townsquare Capital LLC increased its stake in Johnson & Johnson by 62.7% during the first quarter, acquiring a total of 215,308 shares valued at approximately $35.7 million.
• Johnson & Johnson reported a quarterly earnings per share (EPS) of $2.77, exceeding analysts' expectations of $2.68, with revenues reaching $23.74 billion, a 5.8% increase year-over-year.
• The company recently announced a quarterly dividend of $1.30 per share, translating to an annualized dividend yield of 3.0%.

Townsquare Capital LLC raised its position in Johnson & Johnson (NYSE:JNJ - Free Report) by 62.7% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 215,308 shares of the company's stock after purchasing an additional 82,979 shares during the period. Townsquare Capital LLC's holdings in Johnson & Johnson were worth $35,707,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Highline Wealth Partners LLC lifted its stake in Johnson & Johnson by 51.8% in the 1st quarter. Highline Wealth Partners LLC now owns 252 shares of the company's stock worth $42,000 after purchasing an additional 86 shares in the last quarter. von Borstel & Associates Inc. purchased a new stake in shares of Johnson & Johnson during the 1st quarter valued at approximately $49,000. Capital A Wealth Management LLC purchased a new stake in shares of Johnson & Johnson during the 4th quarter valued at approximately $50,000. Harvest Fund Management Co. Ltd purchased a new stake in shares of Johnson & Johnson during the 1st quarter valued at approximately $52,000. Finally, Accredited Wealth Management LLC purchased a new stake in shares of Johnson & Johnson during the 4th quarter valued at approximately $58,000. Hedge funds and other institutional investors own 69.55% of the company's stock.

Analyst Ratings Changes

Several analysts have recently commented on JNJ shares. Erste Group Bank raised shares of Johnson & Johnson from a "hold" rating to a "buy" rating in a research report on Wednesday, July 23rd. Royal Bank Of Canada lifted their price target on shares of Johnson & Johnson from $181.00 to $185.00 and gave the company an "outperform" rating in a research report on Thursday, July 17th. Leerink Partnrs lowered shares of Johnson & Johnson from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 13th. Wall Street Zen lowered shares of Johnson & Johnson from a "strong-buy" rating to a "buy" rating in a research report on Friday, July 18th. Finally, Bank of America lifted their price target on shares of Johnson & Johnson from $161.00 to $175.00 and gave the company a "neutral" rating in a research report on Thursday, July 17th. Nine research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $174.50.

Johnson & Johnson Stock Up 1.1%

Johnson & Johnson stock traded up $1.87 during mid-day trading on Friday, reaching $173.40. 7,686,049 shares of the company's stock were exchanged, compared to its average volume of 9,496,232. The company has a quick ratio of 0.76, a current ratio of 1.01 and a debt-to-equity ratio of 0.50. Johnson & Johnson has a twelve month low of $140.68 and a twelve month high of $173.96. The company has a market cap of $417.61 billion, a P/E ratio of 18.55, a P/E/G ratio of 2.18 and a beta of 0.41. The company has a fifty day moving average of $159.26 and a 200-day moving average of $157.44.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last posted its quarterly earnings results on Wednesday, July 16th. The company reported $2.77 EPS for the quarter, topping the consensus estimate of $2.68 by $0.09. The business had revenue of $23.74 billion during the quarter, compared to the consensus estimate of $22.85 billion. Johnson & Johnson had a net margin of 25.00% and a return on equity of 32.49%. The company's quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.82 earnings per share. Sell-side analysts expect that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Announces Dividend

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 paid a $1.30 dividend. The ex-dividend date is Tuesday, August 26th. This represents a $5.20 annualized dividend and a dividend yield of 3.0%. Johnson & Johnson's payout ratio is 55.61%.

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.