Ascent Capital Management LLC Grows Position in Johnson & Johnson (NYSE:JNJ)

Ascent Capital Management LLC lifted its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 19.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,773 shares of the company’s stock after purchasing an additional 287 shares during the quarter. Ascent Capital Management LLC’s holdings in Johnson & Johnson were worth $294,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. WealthTrak Capital Management LLC purchased a new position in Johnson & Johnson during the 4th quarter valued at about $26,000. Mountain Hill Investment Partners Corp. acquired a new stake in Johnson & Johnson in the 4th quarter valued at about $29,000. Conquis Financial LLC acquired a new stake in Johnson & Johnson in the 4th quarter valued at about $33,000. Bernard Wealth Management Corp. acquired a new stake in Johnson & Johnson in the 4th quarter valued at about $36,000. Finally, Highline Wealth Partners LLC raised its position in Johnson & Johnson by 51.8% in the 1st quarter. Highline Wealth Partners LLC now owns 252 shares of the company’s stock valued at $42,000 after purchasing an additional 86 shares in the last quarter. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Johnson & Johnson Trading Up 0.9%

JNJ opened at $157.72 on Friday. The firm has a market cap of $379.48 billion, a price-to-earnings ratio of 17.54, a price-to-earnings-growth ratio of 2.36 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. The business’s 50 day moving average is $153.73 and its two-hundred day moving average is $154.35. Johnson & Johnson has a 52 week low of $140.68 and a 52 week high of $169.99.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings data on Tuesday, April 15th. The company reported $2.77 earnings per share for the quarter, beating analysts’ consensus estimates of $2.59 by $0.18. The firm had revenue of $21.89 billion for the quarter, compared to analyst estimates of $21.65 billion. Johnson & Johnson had a net margin of 24.42% and a return on equity of 33.46%. On average, research analysts predict that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Tuesday, May 27th were given a $1.30 dividend. The ex-dividend date of this dividend was Tuesday, May 27th. This represents a $5.20 dividend on an annualized basis and a yield of 3.30%. This is an increase from Johnson & Johnson’s previous quarterly dividend of $1.24. Johnson & Johnson’s dividend payout ratio (DPR) is presently 57.84%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on JNJ shares. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $181.00 price target on shares of Johnson & Johnson in a research report on Thursday, June 5th. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Johnson & Johnson in a research report on Wednesday, April 16th. Raymond James Financial reduced their price target on Johnson & Johnson from $165.00 to $162.00 and set an “outperform” rating on the stock in a research report on Monday, April 14th. Leerink Partners lowered Johnson & Johnson from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $169.00 to $153.00 in a research report on Tuesday, May 13th. Finally, Guggenheim reissued a “neutral” rating on shares of Johnson & Johnson in a research report on Wednesday, April 2nd. Eleven research 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.com, Johnson & Johnson presently has an average rating of “Moderate Buy” and an average target price of $171.00.

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.