Portside Wealth Group LLC Purchases 14,513 Shares of Johnson & Johnson (NYSE:JNJ)

Portside Wealth Group LLC increased its position in shares of Johnson & Johnson (NYSE:JNJ) by 96.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 29,501 shares of the company’s stock after acquiring an additional 14,513 shares during the period. Johnson & Johnson makes up about 0.8% of Portside Wealth Group LLC’s holdings, making the stock its 28th biggest position. Portside Wealth Group LLC’s holdings in Johnson & Johnson were worth $4,893,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of JNJ. WealthTrak Capital Management LLC bought a new stake in Johnson & Johnson during the 4th quarter worth approximately $26,000. Mountain Hill Investment Partners Corp. bought a new stake in Johnson & Johnson during the 4th quarter worth approximately $29,000. Conquis Financial LLC bought a new position in shares of Johnson & Johnson in the 4th quarter worth $33,000. Bernard Wealth Management Corp. bought a new position in shares of Johnson & Johnson in the 4th quarter worth $36,000. Finally, Runnymede Capital Advisors Inc. bought a new position in shares of Johnson & Johnson in the 4th quarter worth $38,000. Institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Trading Up 0.9%

Shares of JNJ opened at $155.02 on Monday. The stock has a market capitalization of $372.99 billion, a P/E ratio of 23.31, a PEG ratio of 2.56 and a beta of 0.42. The company has a quick ratio of 0.86, a current ratio of 1.11 and a debt-to-equity ratio of 0.43. The firm has a fifty day simple moving average of $153.59 and a two-hundred day simple moving average of $153.67. Johnson & Johnson has a twelve month low of $140.68 and a twelve month high of $169.99.

Johnson & Johnson (NYSE:JNJ) last posted its earnings results on Tuesday, April 15th. The company reported $2.77 EPS for the quarter, topping the consensus estimate of $2.59 by $0.18. Johnson & Johnson had a net margin of 18.20% and a return on equity of 34.24%. The firm had revenue of $21.89 billion during the quarter, compared to analysts’ expectations of $21.65 billion. On average, research analysts anticipate that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Tuesday, May 27th will be paid a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 3.35%. This is a positive change from Johnson & Johnson’s previous quarterly dividend of $1.24. The ex-dividend date is Tuesday, May 27th. Johnson & Johnson’s dividend payout ratio (DPR) is presently 57.84%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on JNJ shares. Leerink Partners lowered shares of Johnson & Johnson from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $169.00 to $153.00 in a report on Tuesday, May 13th. Bank of America decreased their price target on shares of Johnson & Johnson from $171.00 to $159.00 and set a “neutral” rating on the stock in a report on Thursday, April 10th. Morgan Stanley increased their price target on shares of Johnson & Johnson from $164.00 to $169.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 16th. Sanford C. Bernstein reissued a “market perform” rating on shares of Johnson & Johnson in a report on Wednesday, April 16th. Finally, Leerink Partnrs cut shares of Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 13th. Eleven investment 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 MarketBeat, the company has an average rating of “Moderate Buy” and an average target price 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.