Merit Financial Group LLC Buys 36,312 Shares of Johnson & Johnson (NYSE:JNJ)

Merit Financial Group LLC raised its holdings in Johnson & Johnson (NYSE:JNJ) by 35.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 137,423 shares of the company’s stock after acquiring an additional 36,312 shares during the period. Merit Financial Group LLC’s holdings in Johnson & Johnson were worth $22,790,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in JNJ. Paladin Wealth LLC lifted its holdings in shares of Johnson & Johnson by 3.8% in the first quarter. Paladin Wealth LLC now owns 5,189 shares of the company’s stock valued at $861,000 after purchasing an additional 192 shares in the last quarter. Lbmc Investment Advisors LLC increased its position in Johnson & Johnson by 12.8% during the first quarter. Lbmc Investment Advisors LLC now owns 7,630 shares of the company’s stock worth $1,265,000 after buying an additional 864 shares during the last quarter. Bennett Associates Wealth Management acquired a new position in Johnson & Johnson during the first quarter worth approximately $593,000. Mitchell & Pahl Private Wealth LLC increased its position in Johnson & Johnson by 1.4% during the first quarter. Mitchell & Pahl Private Wealth LLC now owns 18,432 shares of the company’s stock worth $3,057,000 after buying an additional 258 shares during the last quarter. Finally, Hummer Financial Advisory Services Inc grew its position in shares of Johnson & Johnson by 1.7% in the first quarter. Hummer Financial Advisory Services Inc now owns 10,592 shares of the company’s stock valued at $1,757,000 after purchasing an additional 175 shares during the last quarter. 69.55% of the stock is owned by institutional investors and hedge funds.

Johnson & Johnson Price Performance

Johnson & Johnson stock opened at $155.37 on Tuesday. The company’s 50 day moving average price is $154.19 and its two-hundred day moving average price is $153.67. 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 has a 52 week low of $140.68 and a 52 week high of $169.99. The stock has a market cap of $373.83 billion, a P/E ratio of 23.36, a P/E/G ratio of 2.56 and a beta of 0.42.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly 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 company had revenue of $21.89 billion during the quarter, compared to analyst estimates of $21.65 billion. On average, equities analysts predict that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Increases Dividend

The firm also recently announced 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 a boost from Johnson & Johnson’s previous quarterly dividend of $1.24. The ex-dividend date is Tuesday, May 27th. This represents a $5.20 dividend on an annualized basis and a yield of 3.35%. Johnson & Johnson’s payout ratio is presently 57.84%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on JNJ. The Goldman Sachs Group raised Johnson & Johnson from a “neutral” rating to a “buy” rating and upped their target price for the company from $157.00 to $172.00 in a research report on Wednesday, April 9th. Raymond James cut their target price on Johnson & Johnson from $165.00 to $162.00 and set an “outperform” rating for the company in a research note on Monday, April 14th. Morgan Stanley upped their price target on shares of Johnson & Johnson from $164.00 to $169.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 16th. Leerink Partnrs downgraded Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 13th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $181.00 price objective 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 given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $170.88.

Johnson & Johnson Company 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.