Foundation Wealth Management LLC PA Boosts Position in Johnson & Johnson (NYSE:JNJ)

Foundation Wealth Management LLC PA grew its stake in Johnson & Johnson (NYSE:JNJ) by 5.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,982 shares of the company’s stock after acquiring an additional 141 shares during the quarter. Foundation Wealth Management LLC PA’s holdings in Johnson & Johnson were worth $495,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. lifted its position in shares of Johnson & Johnson by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 232,792,559 shares of the company’s stock valued at $33,666,460,000 after acquiring an additional 1,772,706 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Johnson & Johnson by 2.8% in the fourth quarter. Geode Capital Management LLC now owns 57,667,920 shares of the company’s stock valued at $8,321,881,000 after acquiring an additional 1,561,036 shares in the last quarter. Northern Trust Corp lifted its position in shares of Johnson & Johnson by 12.3% in the fourth quarter. Northern Trust Corp now owns 30,813,175 shares of the company’s stock valued at $4,456,201,000 after acquiring an additional 3,363,235 shares in the last quarter. Norges Bank acquired a new position in Johnson & Johnson in the fourth quarter valued at $4,390,037,000. Finally, Wellington Management Group LLP increased its stake in Johnson & Johnson by 1.8% in the fourth quarter. Wellington Management Group LLP now owns 24,356,572 shares of the company’s stock valued at $3,522,447,000 after purchasing an additional 431,205 shares during the last quarter. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Johnson & Johnson Stock Performance

Shares of NYSE:JNJ opened at $152.27 on Wednesday. The firm has a market capitalization of $366.36 billion, a PE ratio of 16.94, a P/E/G ratio of 2.29 and a beta of 0.42. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.26 and a quick ratio of 1.03. The business has a 50-day moving average of $153.99 and a two-hundred day moving average of $153.68. Johnson & Johnson has a 12 month low of $140.68 and a 12 month high of $169.99.

Johnson & Johnson (NYSE:JNJ) last posted its earnings results 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. Johnson & Johnson had a return on equity of 33.46% and a net margin of 24.42%. The business had revenue of $21.89 billion during the quarter, compared to analyst estimates of $21.65 billion. As a group, research analysts forecast that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Tuesday, May 27th were paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 3.42%. The ex-dividend date of this dividend was Tuesday, May 27th. This is a positive change from Johnson & Johnson’s previous quarterly dividend of $1.24. Johnson & Johnson’s dividend payout ratio (DPR) is 57.84%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Raymond James Financial dropped 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. Wall Street Zen upgraded Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Sanford C. Bernstein reiterated a “market perform” rating on shares of Johnson & Johnson in a research note on Wednesday, April 16th. Guggenheim reiterated a “neutral” rating on shares of Johnson & Johnson in a research note on Wednesday, April 2nd. Finally, The Goldman Sachs Group upgraded 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 note on Wednesday, April 9th. Eleven investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $170.88.

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.