Pzena Investment Management LLC Acquires 6,806 Shares of Johnson & Johnson (NYSE:JNJ)

Pzena Investment Management LLC raised its holdings in Johnson & Johnson (NYSE:JNJ) by 3.0% during the first quarter, HoldingsChannel.com reports. The fund owned 235,786 shares of the company’s stock after purchasing an additional 6,806 shares during the period. Pzena Investment Management LLC’s holdings in Johnson & Johnson were worth $39,103,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of JNJ. WealthTrak Capital Management LLC bought a new stake in shares of Johnson & Johnson during the fourth quarter worth about $26,000. Mountain Hill Investment Partners Corp. acquired a new position in shares of Johnson & Johnson in the fourth quarter worth approximately $29,000. Conquis Financial LLC acquired a new position in shares of Johnson & Johnson in the fourth quarter worth approximately $33,000. Bernard Wealth Management Corp. acquired a new position in shares of Johnson & Johnson in the fourth quarter worth approximately $36,000. Finally, Highline Wealth Partners LLC lifted its stake in shares of Johnson & Johnson by 51.8% in the first quarter. Highline Wealth Partners LLC now owns 252 shares of the company’s stock worth $42,000 after acquiring an additional 86 shares during the period. Institutional investors own 69.55% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on JNJ. Wall Street Zen raised Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 21st. Guggenheim boosted their target price on shares of Johnson & Johnson from $164.00 to $167.00 and gave the company a “neutral” rating in a research report on Thursday. Morgan Stanley boosted their target price on shares of Johnson & Johnson from $171.00 to $176.00 and gave the company an “equal weight” rating in a research report on Thursday. Barclays upped their target price on Johnson & Johnson from $165.00 to $176.00 and gave the stock an “equal weight” rating in a research report on Thursday. Finally, Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Johnson & Johnson in a research report on Wednesday, April 16th. Eleven research analysts have rated the stock with a hold rating, nine have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $174.11.

Johnson & Johnson Stock Performance

NYSE:JNJ opened at $163.04 on Friday. The business’s 50-day moving average price is $154.10 and its two-hundred day moving average price is $154.84. Johnson & Johnson has a twelve month low of $140.68 and a twelve month high of $169.99. The stock has a market cap of $392.28 billion, a P/E ratio of 17.44, a PEG ratio of 2.21 and a beta of 0.41. The company has a quick ratio of 1.03, a current ratio of 1.26 and a debt-to-equity ratio of 0.49.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings results on Wednesday, July 16th. The company reported $2.77 earnings per share for the quarter, beating the consensus estimate of $2.68 by $0.09. The firm had revenue of $23.74 billion for the quarter, compared to analysts’ expectations of $22.85 billion. Johnson & Johnson had a return on equity of 33.07% and a net margin of 25.00%. The company’s revenue was up 5.8% compared to the same quarter last year. During the same quarter last year, the firm posted $2.82 EPS. As a group, equities analysts predict that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 9th. Investors of record on Tuesday, August 26th will be given a $1.30 dividend. The ex-dividend date is Tuesday, August 26th. This represents a $5.20 dividend on an annualized basis and a yield of 3.19%. Johnson & Johnson’s payout ratio is 55.61%.

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.