Range Financial Group LLC Has $2.64 Million Stock Position in Johnson & Johnson (NYSE:JNJ)

Range Financial Group LLC lifted its stake in shares of Johnson & Johnson (NYSE:JNJ) by 18.9% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 15,886 shares of the company’s stock after buying an additional 2,529 shares during the period. Johnson & Johnson comprises approximately 1.2% of Range Financial Group LLC’s investment portfolio, making the stock its 23rd biggest position. Range Financial Group LLC’s holdings in Johnson & Johnson were worth $2,635,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Portside Wealth Group LLC raised its position in Johnson & Johnson by 96.8% in the first quarter. Portside Wealth Group LLC now owns 29,501 shares of the company’s stock valued at $4,893,000 after purchasing an additional 14,513 shares during the last quarter. Moss Adams Wealth Advisors LLC increased its stake in shares of Johnson & Johnson by 8.1% in the first quarter. Moss Adams Wealth Advisors LLC now owns 11,123 shares of the company’s stock valued at $1,845,000 after buying an additional 830 shares during the period. NewSquare Capital LLC raised its holdings in Johnson & Johnson by 266.9% in the 1st quarter. NewSquare Capital LLC now owns 1,064 shares of the company’s stock valued at $176,000 after buying an additional 774 shares during the last quarter. Toth Financial Advisory Corp boosted its position in Johnson & Johnson by 2.3% during the 1st quarter. Toth Financial Advisory Corp now owns 62,799 shares of the company’s stock worth $10,415,000 after buying an additional 1,429 shares during the period. Finally, Courier Capital LLC grew its holdings in Johnson & Johnson by 1.0% during the 1st quarter. Courier Capital LLC now owns 65,990 shares of the company’s stock worth $10,944,000 after acquiring an additional 633 shares during the last quarter. 69.55% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on JNJ. The Goldman Sachs Group upgraded shares of Johnson & Johnson from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $157.00 to $172.00 in a report on Wednesday, April 9th. 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 research report on Thursday, April 10th. Leerink Partnrs downgraded Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 13th. Raymond James cut their price objective on Johnson & Johnson from $165.00 to $162.00 and set an “outperform” rating on the stock in a research note on Monday, April 14th. Finally, Morgan Stanley increased their target price on shares of Johnson & Johnson from $164.00 to $169.00 and gave the company an “equal weight” rating 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 given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $170.88.

Johnson & Johnson Stock Performance

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

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings data on Tuesday, April 15th. The company reported $2.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.59 by $0.18. The firm had revenue of $21.89 billion for the quarter, compared to analysts’ expectations of $21.65 billion. Johnson & Johnson had a net margin of 18.20% and a return on equity of 34.24%. Equities research 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. Investors of record on Tuesday, May 27th will be issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date is Tuesday, May 27th. This is an increase from Johnson & Johnson’s previous quarterly dividend of $1.24. Johnson & Johnson’s dividend payout ratio is currently 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.