Wooster Corthell Wealth Management Inc. Makes New $263,000 Investment in Johnson & Johnson (NYSE:JNJ)

Key Points

• Wooster Corthell Wealth Management Inc. has acquired a new stake in Johnson & Johnson, purchasing 1,586 shares valued at approximately $263,000 during the first quarter.
• Multiple institutional investors, including Woodley Farra Manion Portfolio Management Inc. and Arkadios Wealth Advisors, have significantly increased their holdings in Johnson & Johnson, indicating strong institutional interest in the company.
• Johnson & Johnson's quarterly earnings exceeded analyst expectations, reporting $2.77 earnings per share and a revenue of $23.74 billion, representing a 5.8% year-over-year increase.

Wooster Corthell Wealth Management Inc. bought a new stake in shares of Johnson & Johnson (NYSE:JNJ - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 1,586 shares of the company's stock, valued at approximately $263,000.

Several other large investors have also bought and sold shares of JNJ. GAMMA Investing LLC grew its holdings in Johnson & Johnson by 24,450.4% in the 1st quarter. GAMMA Investing LLC now owns 7,215,367 shares of the company's stock valued at $1,196,596,000 after buying an additional 7,185,977 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Johnson & Johnson by 26.4% in the 1st quarter. Bank of New York Mellon Corp now owns 23,182,464 shares of the company's stock worth $3,844,580,000 after acquiring an additional 4,842,582 shares during the period. Janus Henderson Group PLC lifted its position in shares of Johnson & Johnson by 134.5% during the 4th quarter. Janus Henderson Group PLC now owns 7,948,508 shares of the company's stock worth $1,149,536,000 after buying an additional 4,559,147 shares during the period. Northern Trust Corp lifted its position in shares of Johnson & Johnson by 12.3% during the 4th quarter. Northern Trust Corp now owns 30,813,175 shares of the company's stock worth $4,456,201,000 after buying an additional 3,363,235 shares during the period. Finally, Pacer Advisors Inc. lifted its position in shares of Johnson & Johnson by 1,382.0% during the 1st quarter. Pacer Advisors Inc. now owns 3,030,084 shares of the company's stock worth $502,509,000 after buying an additional 2,825,626 shares during the period. Institutional investors own 69.55% of the company's stock.

Johnson & Johnson Stock Up 1.6%

NYSE JNJ traded up $2.59 during mid-day trading on Friday, reaching $167.33. The stock had a trading volume of 8,914,735 shares, compared to its average volume of 9,077,193. Johnson & Johnson has a 1 year low of $140.68 and a 1 year high of $169.99. The stock has a market cap of $402.99 billion, a PE ratio of 17.90, a price-to-earnings-growth ratio of 2.13 and a beta of 0.41. The company has a fifty day moving average price of $157.18 and a 200 day moving average price of $156.44. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.01 and a quick ratio of 0.76.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last announced its quarterly earnings results on Wednesday, July 16th. The company reported $2.77 EPS for the quarter, beating analysts' consensus estimates of $2.68 by $0.09. The firm 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 revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter last year, the firm earned $2.82 EPS. On average, research analysts expect that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

The business also recently announced 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 of this dividend is Tuesday, August 26th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.1%. Johnson & Johnson's payout ratio is currently 55.61%.

Analyst Upgrades and Downgrades

JNJ has been the subject of several recent research reports. Raymond James Financial reduced their price objective on Johnson & Johnson from $165.00 to $162.00 and set an "outperform" rating for the company in a research report on Monday, April 14th. Erste Group Bank upgraded Johnson & Johnson from a "hold" rating to a "buy" rating in a research note on Wednesday, July 23rd. Leerink Partners downgraded Johnson & Johnson from an "outperform" rating to a "market perform" rating and reduced their target price for the company from $169.00 to $153.00 in a report on Tuesday, May 13th. Guggenheim reissued a "neutral" rating and set a $167.00 price objective (up previously from $164.00) on shares of Johnson & Johnson in a report on Thursday, July 17th. Finally, Wall Street Zen lowered Johnson & Johnson from a "strong-buy" rating to a "buy" rating in a research report on Friday, July 18th. Nine investment 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 stock. According to MarketBeat, Johnson & Johnson has a consensus rating of "Moderate Buy" and an average target price of $174.50.

Johnson & Johnson 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.