Truist Financial Corp Has $263.08 Million Stock Position in Johnson & Johnson (NYSE:JNJ)

Truist Financial Corp grew its holdings in Johnson & Johnson (NYSE:JNJ - Free Report) by 0.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,586,357 shares of the company's stock after purchasing an additional 4,097 shares during the quarter. Truist Financial Corp owned about 0.07% of Johnson & Johnson worth $263,082,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. WealthTrak Capital Management LLC acquired a new stake in shares of Johnson & Johnson in the fourth quarter valued at about $26,000. Mountain Hill Investment Partners Corp. acquired a new stake in shares of Johnson & Johnson in the fourth quarter valued at about $29,000. Conquis Financial LLC acquired a new stake in shares of Johnson & Johnson in the fourth quarter valued at about $33,000. Bernard Wealth Management Corp. acquired a new stake in shares of Johnson & Johnson in the fourth quarter valued at about $36,000. Finally, Runnymede Capital Advisors Inc. acquired a new stake in shares of Johnson & Johnson in the fourth quarter valued at about $38,000. 69.55% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Bank of America decreased their target price on Johnson & Johnson from $171.00 to $159.00 and set a "neutral" rating on the stock in a research report on Thursday, April 10th. Raymond James Financial decreased their target price on Johnson & Johnson from $165.00 to $162.00 and set an "outperform" rating on the stock in a research report on Monday, April 14th. Guggenheim reissued a "neutral" rating on shares of Johnson & Johnson in a research report on Wednesday, April 2nd. Barclays decreased their target price on Johnson & Johnson from $166.00 to $165.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 17th. Finally, Royal Bank Of Canada restated an "outperform" rating and set a $181.00 price target on shares of Johnson & Johnson in a research note on Thursday, June 5th. Eleven investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $170.88.

Johnson & Johnson Trading Up 0.7%

JNJ stock traded up $1.10 during trading on Tuesday, hitting $156.37. The company had a trading volume of 929,943 shares, compared to its average volume of 9,028,173. 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 firm has a 50-day moving average price of $153.67 and a 200-day moving average price of $154.24. Johnson & Johnson has a 12 month low of $140.68 and a 12 month high of $169.99. The stock has a market cap of $376.23 billion, a price-to-earnings ratio of 17.39, a PEG ratio of 2.36 and a beta of 0.41.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last posted its quarterly earnings data 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. Johnson & Johnson had a net margin of 24.42% and a return on equity of 33.46%. The firm had revenue of $21.89 billion during the quarter, compared to analysts' expectations of $21.65 billion. As a group, analysts predict that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Tuesday, May 27th were paid a $1.30 dividend. The ex-dividend date was Tuesday, May 27th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.33%. This is an increase from Johnson & Johnson's previous quarterly dividend of $1.24. Johnson & Johnson's dividend payout ratio is 57.84%.

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.