Johnson & Johnson (NYSE:JNJ) Shares Purchased by Allen Capital Group LLC

Allen Capital Group LLC raised its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 14.5% during the first quarter, HoldingsChannel reports. The institutional investor owned 22,903 shares of the company’s stock after acquiring an additional 2,893 shares during the quarter. Allen Capital Group LLC’s holdings in Johnson & Johnson were worth $3,798,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. BIP Alliance LLC lifted its position in Johnson & Johnson by 10.1% during the first quarter. BIP Alliance LLC now owns 2,799 shares of the company’s stock valued at $464,000 after buying an additional 257 shares in the last quarter. Trust Investment Advisors lifted its position in Johnson & Johnson by 36.1% during the first quarter. Trust Investment Advisors now owns 2,192 shares of the company’s stock valued at $364,000 after buying an additional 581 shares in the last quarter. Altman Advisors Inc. lifted its position in Johnson & Johnson by 3.7% during the first quarter. Altman Advisors Inc. now owns 10,351 shares of the company’s stock valued at $1,618,000 after buying an additional 367 shares in the last quarter. Cullen Frost Bankers Inc. lifted its position in shares of Johnson & Johnson by 0.6% during the first quarter. Cullen Frost Bankers Inc. now owns 344,647 shares of the company’s stock worth $57,156,000 after purchasing an additional 2,223 shares in the last quarter. Finally, Guardian Wealth Advisors LLC lifted its position in shares of Johnson & Johnson by 3.9% during the first quarter. Guardian Wealth Advisors LLC now owns 6,130 shares of the company’s stock worth $1,017,000 after purchasing an additional 231 shares in the last quarter. 69.55% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

JNJ has been the topic of a number of recent research reports. Raymond James Financial reduced their target price on shares of 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 cut shares of Johnson & Johnson from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $169.00 to $153.00 in a research report on Tuesday, May 13th. Morgan Stanley reissued an “underperform” rating on shares of Johnson & Johnson in a research report on Thursday, July 10th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $181.00 price target on shares of Johnson & Johnson in a report on Thursday, June 5th. Finally, Benchmark raised shares of Johnson & Johnson to a “strong-buy” rating in a report on Thursday, April 24th. Eleven investment analysts have rated the stock with a hold rating, seven have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $171.00.

Johnson & Johnson Stock Performance

Shares of JNJ opened at $164.78 on Thursday. The firm has a 50-day moving average price of $153.95 and a 200 day moving average price of $154.71. The firm has a market capitalization of $396.47 billion, a PE ratio of 18.33, a P/E/G ratio of 2.12 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 has a 52-week low of $140.68 and a 52-week high of $169.99.

Johnson & Johnson (NYSE:JNJ) last announced its earnings results on Wednesday, July 16th. The company reported $2.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.68 by $0.09. The firm had revenue of $23.74 billion during the quarter, compared to analyst estimates of $22.85 billion. Johnson & Johnson had a net margin of 24.42% and a return on equity of 33.46%. Johnson & Johnson’s revenue was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.82 EPS. On average, sell-side analysts anticipate that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The business 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. This represents a $5.20 dividend on an annualized basis and a yield of 3.16%. Johnson & Johnson’s dividend payout ratio is presently 57.84%.

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.