Johnson & Johnson (NYSE:JNJ) Shares Bought by Private Advisory Group LLC

Private Advisory Group LLC grew its stake in shares of Johnson & Johnson (NYSE:JNJ) by 61.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 42,662 shares of the company’s stock after acquiring an additional 16,293 shares during the period. Private Advisory Group LLC’s holdings in Johnson & Johnson were worth $7,075,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Brighton Jones LLC grew its position in shares of Johnson & Johnson by 13.9% in the fourth quarter. Brighton Jones LLC now owns 51,876 shares of the company’s stock valued at $7,502,000 after purchasing an additional 6,332 shares during the last quarter. Hudson Value Partners LLC lifted its stake in Johnson & Johnson by 2.5% in the 4th quarter. Hudson Value Partners LLC now owns 41,403 shares of the company’s stock valued at $5,648,000 after buying an additional 1,022 shares in the last quarter. Potomac Fund Management Inc. ADV acquired a new stake in Johnson & Johnson during the 4th quarter valued at $625,000. Meeder Advisory Services Inc. increased its position in Johnson & Johnson by 2.4% during the fourth quarter. Meeder Advisory Services Inc. now owns 37,359 shares of the company’s stock worth $5,403,000 after buying an additional 882 shares in the last quarter. Finally, RFG Bristol Wealth Advisors LLC acquired a new position in shares of Johnson & Johnson in the fourth quarter worth $928,000. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Wall Street Analysts Forecast Growth

JNJ has been the subject of a number of recent research reports. UBS Group lifted their price objective on Johnson & Johnson from $180.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, July 17th. Piper Sandler reiterated an “overweight” rating on shares of Johnson & Johnson in a report on Thursday, July 17th. Morgan Stanley upped their price objective on shares of Johnson & Johnson from $171.00 to $176.00 and gave the company an “equal weight” rating in a research note on Thursday, July 17th. Raymond James Financial lowered their target price on shares of Johnson & Johnson from $165.00 to $162.00 and set an “outperform” rating for the company in a research note on Monday, April 14th. Finally, Benchmark raised Johnson & Johnson to a “strong-buy” rating in a research note on Thursday, April 24th. Nine equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $174.50.

Johnson & Johnson Stock Performance

NYSE:JNJ opened at $167.31 on Thursday. Johnson & Johnson has a twelve month low of $140.68 and a twelve month high of $169.99. The firm has a market capitalization of $402.94 billion, a price-to-earnings ratio of 17.89, a PEG ratio of 2.14 and a beta of 0.41. The company has a current ratio of 1.01, a quick ratio of 0.76 and a debt-to-equity ratio of 0.50. The firm’s fifty day simple moving average is $156.93 and its 200 day simple moving average is $156.30.

Johnson & Johnson (NYSE:JNJ) last issued its earnings results on Wednesday, July 16th. The company reported $2.77 earnings per share for the quarter, topping the consensus estimate of $2.68 by $0.09. The company had revenue of $23.74 billion during the quarter, compared to the consensus estimate of $22.85 billion. Johnson & Johnson had a return on equity of 32.49% 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 in the prior year, the business earned $2.82 earnings per share. As a group, equities research analysts expect that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 9th. Shareholders 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 3.11%. 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.