Wealth Dimensions Group Ltd. Raises Holdings in Johnson & Johnson (NYSE:JNJ)

Wealth Dimensions Group Ltd. boosted its position in Johnson & Johnson (NYSE:JNJ) by 0.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 13,622 shares of the company’s stock after purchasing an additional 107 shares during the quarter. Johnson & Johnson comprises approximately 0.5% of Wealth Dimensions Group Ltd.’s investment portfolio, making the stock its 26th largest position. Wealth Dimensions Group Ltd.’s holdings in Johnson & Johnson were worth $2,259,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Verus Financial Partners Inc. increased its position in shares of Johnson & Johnson by 6.9% during the 1st quarter. Verus Financial Partners Inc. now owns 4,276 shares of the company’s stock worth $657,000 after purchasing an additional 275 shares during the last quarter. Peterson Wealth Services lifted its stake in Johnson & Johnson by 14.3% in the first quarter. Peterson Wealth Services now owns 14,982 shares of the company’s stock worth $2,485,000 after acquiring an additional 1,871 shares during the last quarter. RD Lewis Holdings Inc. grew its stake in shares of Johnson & Johnson by 24.6% during the first quarter. RD Lewis Holdings Inc. now owns 2,000 shares of the company’s stock worth $312,000 after purchasing an additional 395 shares in the last quarter. Los Angeles Capital Management LLC raised its position in shares of Johnson & Johnson by 213.6% during the 1st quarter. Los Angeles Capital Management LLC now owns 1,440,384 shares of the company’s stock worth $238,873,000 after acquiring an additional 981,083 shares in the last quarter. Finally, Wealth Alliance LLC raised its stake in Johnson & Johnson by 36.7% during the 1st quarter. Wealth Alliance LLC now owns 23,009 shares of the company’s stock worth $3,816,000 after acquiring an additional 6,173 shares in the last quarter. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on JNJ shares. Barclays upped their target price on shares of Johnson & Johnson from $165.00 to $176.00 and gave the company an “equal weight” rating in a report on Thursday. Benchmark raised shares of Johnson & Johnson to a “strong-buy” rating in a report on Thursday, April 24th. Raymond James Financial cut their price target 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. Bank of America boosted their price target on Johnson & Johnson from $161.00 to $175.00 and gave the stock a “neutral” rating in a report on Thursday. Finally, Piper Sandler reiterated an “overweight” rating on shares of Johnson & Johnson in a report on Thursday. Eleven research analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $172.87.

Johnson & Johnson Stock Up 0.4%

Shares of NYSE JNJ opened at $163.65 on Monday. The stock has a fifty day moving average price of $154.29 and a 200 day moving average price of $155.12. The company has a current ratio of 1.26, a quick ratio of 1.03 and a debt-to-equity ratio of 0.49. Johnson & Johnson has a 12-month low of $140.68 and a 12-month high of $169.99. The company has a market cap of $393.75 billion, a P/E ratio of 17.50, a P/E/G ratio of 2.08 and a beta of 0.41.

Johnson & Johnson (NYSE:JNJ) last announced its earnings results on Wednesday, July 16th. The company reported $2.77 EPS for the quarter, beating the consensus estimate of $2.68 by $0.09. The business had revenue of $23.74 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period last year, the business posted $2.82 EPS. Research analysts anticipate that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 9th. Stockholders of record on Tuesday, August 26th will be given a dividend of $1.30 per share. The ex-dividend date is Tuesday, August 26th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.18%. Johnson & Johnson’s payout ratio is currently 55.61%.

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.