VELA Investment Management LLC boosted its stake in Johnson & Johnson (NYSE:JNJ - Free Report) by 4.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 39,396 shares of the company's stock after purchasing an additional 1,835 shares during the quarter. Johnson & Johnson comprises about 2.0% of VELA Investment Management LLC's investment portfolio, making the stock its 7th largest holding. VELA Investment Management LLC's holdings in Johnson & Johnson were worth $6,533,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also recently added to or reduced their stakes in the stock. WealthTrak Capital Management LLC bought a new position in shares of Johnson & Johnson during the fourth quarter worth $26,000. Mountain Hill Investment Partners Corp. acquired a new stake in Johnson & Johnson during the 4th quarter worth $29,000. Conquis Financial LLC bought a new position in Johnson & Johnson during the fourth quarter worth about $33,000. Bernard Wealth Management Corp. acquired a new position in Johnson & Johnson in the fourth quarter valued at about $36,000. Finally, Runnymede Capital Advisors Inc. bought a new stake in shares of Johnson & Johnson in the fourth quarter worth about $38,000. Institutional investors and hedge funds own 69.55% of the company's stock.
Wall Street Analysts Forecast Growth
JNJ has been the topic of several recent analyst reports. The Goldman Sachs Group upgraded Johnson & Johnson from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $157.00 to $172.00 in a report on Wednesday, April 9th. Morgan Stanley lifted their price target on shares of Johnson & Johnson from $164.00 to $169.00 and gave the company an "equal weight" rating in a research note on Wednesday, April 16th. Sanford C. Bernstein reiterated a "market perform" rating on shares of Johnson & Johnson in a report on Wednesday, April 16th. Leerink Partners lowered shares of Johnson & Johnson from an "outperform" rating to a "market perform" rating and dropped their price objective for the stock from $169.00 to $153.00 in a report on Tuesday, May 13th. Finally, Benchmark raised shares of Johnson & Johnson to a "strong-buy" rating in a research note on Thursday, April 24th. Eleven analysts have rated the stock with a hold rating, seven have given a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat.com, Johnson & Johnson presently has a consensus rating of "Moderate Buy" and a consensus price target of $170.88.
Read Our Latest Research Report on JNJ
Johnson & Johnson Price Performance
NYSE:JNJ opened at $155.90 on Monday. Johnson & Johnson has a 52-week low of $140.68 and a 52-week high of $169.99. The company has a market cap of $375.11 billion, a P/E ratio of 17.34, a P/E/G ratio of 2.36 and a beta of 0.41. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.03 and a current ratio of 1.26. The stock's 50-day simple moving average is $153.68 and its 200 day simple moving average is $154.17.
Johnson & Johnson (NYSE:JNJ - Get Free Report) last posted its quarterly 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. Johnson & Johnson had a return on equity of 33.46% and a net margin of 24.42%. The firm had revenue of $21.89 billion for the quarter, compared to analyst estimates of $21.65 billion. As a group, sell-side analysts forecast that Johnson & Johnson will post 10.58 EPS for the current fiscal year.
Johnson & Johnson Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Tuesday, May 27th were given a dividend of $1.30 per share. This is a positive change from Johnson & Johnson's previous quarterly dividend of $1.24. This represents a $5.20 annualized dividend and a yield of 3.34%. The ex-dividend date was Tuesday, May 27th. Johnson & Johnson's dividend payout ratio is 57.84%.
About Johnson & Johnson
(
Free Report)
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.
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