Vestmark Advisory Solutions Inc. Has $13.47 Million Holdings in Johnson & Johnson (NYSE:JNJ)

Key Points

• Vestmark Advisory Solutions Inc. significantly increased its holdings in Johnson & Johnson by 143.7% during the first quarter, bringing its total to 81,230 shares worth approximately $13.47 million.
• Johnson & Johnson recently announced a quarterly dividend of $1.30 per share, resulting in an annualized dividend yield of 3.0% with a payout ratio of 55.61%.
• Analysts have mixed ratings for Johnson & Johnson, with a consensus of 10 buy ratings, 9 hold ratings, and 2 strong buy ratings, alongside a price target increase from $181 to $185 by Royal Bank of Canada.

Vestmark Advisory Solutions Inc. increased its stake in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 143.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 81,230 shares of the company's stock after purchasing an additional 47,895 shares during the period. Vestmark Advisory Solutions Inc.'s holdings in Johnson & Johnson were worth $13,471,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Elios Financial Group Inc. increased its holdings in shares of Johnson & Johnson by 1.5% during the 1st quarter. Elios Financial Group Inc. now owns 4,496 shares of the company's stock worth $746,000 after buying an additional 66 shares during the last quarter. Atlantic Family Wealth LLC increased its holdings in shares of Johnson & Johnson by 4.4% during the 1st quarter. Atlantic Family Wealth LLC now owns 1,603 shares of the company's stock worth $266,000 after buying an additional 67 shares during the last quarter. MBA Advisors LLC boosted its position in Johnson & Johnson by 1.2% during the 1st quarter. MBA Advisors LLC now owns 5,553 shares of the company's stock worth $921,000 after purchasing an additional 68 shares during the period. Sovereign Financial Group Inc. boosted its position in Johnson & Johnson by 1.8% during the 1st quarter. Sovereign Financial Group Inc. now owns 3,928 shares of the company's stock worth $651,000 after purchasing an additional 69 shares during the period. Finally, Nabity Jensen Investment Management Inc boosted its position in shares of Johnson & Johnson by 1.5% in the first quarter. Nabity Jensen Investment Management Inc now owns 4,624 shares of the company's stock worth $767,000 after buying an additional 69 shares during the period. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on JNJ shares. UBS Group boosted their target price on shares of Johnson & Johnson from $180.00 to $190.00 and gave the stock a "buy" rating in a research report on Thursday, July 17th. Piper Sandler reiterated an "overweight" rating on shares of Johnson & Johnson in a research report on Thursday, July 17th. Wall Street Zen downgraded Johnson & Johnson from a "strong-buy" rating to a "buy" rating in a report on Friday, July 18th. Leerink Partnrs downgraded shares of Johnson & Johnson from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 13th. Finally, Leerink Partners lowered Johnson & Johnson from an "outperform" rating to a "market perform" rating and reduced their price objective for the company from $169.00 to $153.00 in a research report on Tuesday, May 13th. Nine analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $174.50.

Johnson & Johnson Trading Up 1.2%

Shares of NYSE:JNJ traded up $2.04 during mid-day trading on Friday, hitting $176.76. The stock had a trading volume of 9,476,237 shares, compared to its average volume of 8,427,234. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.76 and a current ratio of 1.01. The company has a market cap of $425.70 billion, a PE ratio of 18.90, a P/E/G ratio of 2.23 and a beta of 0.41. Johnson & Johnson has a 12-month low of $140.68 and a 12-month high of $177.27. The company's 50 day moving average is $160.85 and its 200-day moving average is $158.16.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last issued its quarterly earnings results on Wednesday, July 16th. The company reported $2.77 EPS for the quarter, beating 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 firm's quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.82 EPS. On average, sell-side analysts predict that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 9th. Stockholders of record on Tuesday, August 26th will be paid a dividend of $1.30 per share. The ex-dividend date is Tuesday, August 26th. This represents a $5.20 annualized dividend and a dividend yield of 2.9%. Johnson & Johnson's dividend payout ratio is 55.61%.

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.