1,454 Shares in Johnson & Johnson (NYSE:JNJ) Purchased by Veery Capital LLC

Veery Capital LLC purchased a new position in shares of Johnson & Johnson (NYSE:JNJ) during the first quarter, HoldingsChannel reports. The fund purchased 1,454 shares of the company’s stock, valued at approximately $241,000.

Several other hedge funds have also recently bought and sold shares of JNJ. WealthTrak Capital Management LLC bought a new position in Johnson & Johnson in the 4th quarter valued at about $26,000. Mountain Hill Investment Partners Corp. bought a new stake in shares of Johnson & Johnson during the 4th quarter valued at approximately $29,000. Bay Harbor Wealth Management LLC bought a new stake in shares of Johnson & Johnson during the 4th quarter valued at approximately $32,000. Conquis Financial LLC bought a new stake in shares of Johnson & Johnson during the 4th quarter valued at approximately $33,000. Finally, Bernard Wealth Management Corp. bought a new stake in shares of Johnson & Johnson during the 4th quarter valued at approximately $36,000. 69.55% of the stock is owned by institutional investors.

Johnson & Johnson Stock Up 0.9%

Shares of NYSE JNJ opened at $154.99 on Friday. The firm has a market cap of $372.92 billion, a PE ratio of 23.31, a P/E/G ratio of 2.56 and a beta of 0.42. Johnson & Johnson has a 12-month low of $140.68 and a 12-month high of $169.99. The company’s fifty day simple moving average is $154.31 and its 200 day simple moving average is $153.65. The company has a quick ratio of 0.86, a current ratio of 1.11 and a debt-to-equity ratio of 0.43.

Johnson & Johnson (NYSE:JNJ) last issued its earnings results on Tuesday, April 15th. The company reported $2.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.59 by $0.18. Johnson & Johnson had a net margin of 18.20% and a return on equity of 34.24%. The business 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 earnings per share for the current fiscal year.

Johnson & Johnson Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Tuesday, May 27th will be issued a dividend of $1.30 per share. This is an increase from Johnson & Johnson’s previous quarterly dividend of $1.24. The ex-dividend date is Tuesday, May 27th. This represents a $5.20 annualized dividend and a yield of 3.36%. Johnson & Johnson’s dividend payout ratio is presently 57.84%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Raymond James decreased their price target on shares of Johnson & Johnson from $165.00 to $162.00 and set an “outperform” rating on the stock in a report on Monday, April 14th. The Goldman Sachs Group upgraded shares of Johnson & Johnson from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $157.00 to $172.00 in a research report on Wednesday, April 9th. Barclays cut their target price on shares of 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. Leerink Partners downgraded shares of Johnson & Johnson from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $169.00 to $153.00 in a research report on Tuesday, May 13th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $181.00 target price on shares of Johnson & Johnson in a research report on Wednesday, April 16th. Eleven equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $170.88.

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.