Accurate Wealth Management LLC Grows Stock Position in Johnson & Johnson (NYSE:JNJ)

Accurate Wealth Management LLC lifted its stake in Johnson & Johnson (NYSE:JNJ) by 5.1% during the first quarter, Holdings Channel reports. The institutional investor owned 24,387 shares of the company’s stock after acquiring an additional 1,173 shares during the quarter. Johnson & Johnson makes up approximately 0.7% of Accurate Wealth Management LLC’s investment portfolio, making the stock its 27th largest position. Accurate Wealth Management LLC’s holdings in Johnson & Johnson were worth $3,699,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Fiduciary Financial Group LLC raised its holdings in Johnson & Johnson by 24.6% in the 1st quarter. Fiduciary Financial Group LLC now owns 5,444 shares of the company’s stock worth $903,000 after purchasing an additional 1,074 shares during the period. Simplicity Wealth LLC increased its position in shares of Johnson & Johnson by 175.3% during the first quarter. Simplicity Wealth LLC now owns 28,507 shares of the company’s stock worth $4,728,000 after purchasing an additional 18,153 shares in the last quarter. West Paces Advisors Inc. lifted its stake in shares of Johnson & Johnson by 101.0% in the first quarter. West Paces Advisors Inc. now owns 8,312 shares of the company’s stock worth $1,378,000 after buying an additional 4,177 shares in the last quarter. GAMMA Investing LLC boosted its position in Johnson & Johnson by 48.0% during the first quarter. GAMMA Investing LLC now owns 43,508 shares of the company’s stock worth $7,215,000 after acquiring an additional 14,118 shares during the last quarter. Finally, Fourpath Capital Management LLC raised its holdings in Johnson & Johnson by 0.5% in the 1st quarter. Fourpath Capital Management LLC now owns 42,044 shares of the company’s stock valued at $6,973,000 after acquiring an additional 221 shares during the last quarter. 69.55% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Morgan Stanley increased their price target on Johnson & Johnson from $164.00 to $169.00 and gave the company an “equal weight” rating in a report on Wednesday, April 16th. Bank of America reduced their price target on Johnson & Johnson from $171.00 to $159.00 and set a “neutral” rating on the stock in a report on Thursday, April 10th. The Goldman Sachs Group upgraded shares of Johnson & Johnson from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $157.00 to $172.00 in a research report on Wednesday, April 9th. Leerink Partnrs cut shares of Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 13th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $181.00 price target on shares of Johnson & Johnson in a research note on Thursday, June 5th. Eleven investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $170.88.

Johnson & Johnson Price Performance

JNJ stock opened at $155.19 on Tuesday. The stock has a market cap of $373.40 billion, a price-to-earnings ratio of 23.34, a PEG ratio of 2.56 and a beta of 0.42. Johnson & Johnson has a fifty-two week low of $140.68 and a fifty-two week high of $169.99. The company has a quick ratio of 0.86, a current ratio of 1.11 and a debt-to-equity ratio of 0.43. The business has a 50 day moving average price of $153.59 and a 200 day moving average price of $153.67.

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, beating 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 during the quarter, compared to analysts’ expectations of $21.65 billion. Equities research analysts anticipate that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Tuesday, May 27th will be given a dividend of $1.30 per share. The ex-dividend date is Tuesday, May 27th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.35%. This is a boost from Johnson & Johnson’s previous quarterly dividend of $1.24. Johnson & Johnson’s payout ratio is 57.84%.

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.