Wealth Enhancement Advisory Services LLC increased its stake in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 6.7% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,698,831 shares of the company's stock after purchasing an additional 107,009 shares during the period. Wealth Enhancement Advisory Services LLC owned approximately 0.07% of Johnson & Johnson worth $281,734,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds have also recently made changes to their positions in the stock. WealthTrak Capital Management LLC acquired a new stake in Johnson & Johnson in the 4th quarter worth approximately $26,000. Mountain Hill Investment Partners Corp. acquired a new stake in shares of Johnson & Johnson during the fourth quarter worth about $29,000. Conquis Financial LLC purchased a new stake in shares of Johnson & Johnson during the fourth quarter worth approximately $33,000. Bernard Wealth Management Corp. purchased a new position in Johnson & Johnson in the fourth quarter valued at approximately $36,000. Finally, Runnymede Capital Advisors Inc. acquired a new stake in shares of Johnson & Johnson during the fourth quarter worth $38,000. 69.55% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
JNJ has been the subject of several recent analyst reports. Royal Bank Of Canada restated an "outperform" rating and issued a $181.00 price target on shares of Johnson & Johnson in a report on Thursday, June 5th. Benchmark raised Johnson & Johnson to a "strong-buy" rating in a research note on Thursday, April 24th. Bank of America decreased their target price on Johnson & Johnson from $171.00 to $159.00 and set a "neutral" rating for the company in a research note on Thursday, April 10th. Guggenheim reissued a "neutral" rating on shares of Johnson & Johnson in a research note on Wednesday, April 2nd. Finally, Leerink Partners lowered shares of Johnson & Johnson from an "outperform" rating to a "market perform" rating and dropped their price target for the company from $169.00 to $153.00 in a research report on Tuesday, May 13th. Eleven 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. Based on data from MarketBeat.com, Johnson & Johnson currently has a consensus rating of "Moderate Buy" and an average price target of $170.88.
Check Out Our Latest Stock Report on JNJ
Johnson & Johnson Stock Performance
Shares of NYSE JNJ traded down $0.92 during trading on Friday, reaching $149.81. 22,591,152 shares of the company traded hands, compared to its average volume of 7,993,824. Johnson & Johnson has a 12-month low of $140.68 and a 12-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 stock has a market cap of $360.44 billion, a P/E ratio of 16.66, a PEG ratio of 2.27 and a beta of 0.42. The firm's fifty day simple moving average is $154.07 and its 200 day simple moving average is $153.65.
Johnson & Johnson (NYSE:JNJ - Get Free Report) last released its quarterly earnings results on Tuesday, April 15th. The company reported $2.77 EPS for the quarter, beating 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 net margin of 24.42% and a return on equity of 33.46%. As a group, research analysts anticipate that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.
Johnson & Johnson Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Tuesday, May 27th were given a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 3.47%. This is an increase from Johnson & Johnson's previous quarterly dividend of $1.24. The ex-dividend date of this dividend was Tuesday, May 27th. Johnson & Johnson's payout ratio is currently 57.84%.
Johnson & Johnson Company Profile
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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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