HighTower Trust Services LTA increased its stake in Johnson & Johnson (NYSE:JNJ – Get a rating) by 19.7% in the 1st quarter, Participation channel reports. The company held 61,266 shares of the company after purchasing an additional 10,101 shares during the quarter. Johnson & Johnson owns 1.0% of the investment portfolio of HighTower Trust Services LTA, making the stock its 19th largest holding. HighTower Trust Services LTA’s holdings in Johnson & Johnson were worth $10,858,000 when it was last filed with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors also changed their positions in JNJ. Edge Wealth Management LLC increased its position in Johnson & Johnson shares by 0.7% in the fourth quarter. Edge Wealth Management LLC now owns 86,628 shares of the company worth $14,819,000 after acquiring an additional 584 shares last quarter. Hoese & Co LLP increased its position in Johnson & Johnson shares by 4.7% in the fourth quarter. Hoese & Co LLP now owns 2,404 shares of the company worth $412,000 after acquiring 108 additional shares in the last quarter. Atlas Brown Inc. increased its position in Johnson & Johnson shares by 1.0% in the fourth quarter. Atlas Brown Inc. now owns 32,627 shares of the company worth $5,581,000 after acquiring 317 additional shares in the last quarter. United Capital Management of KS Inc. increased its position in Johnson & Johnson shares by 4.2% in the fourth quarter. United Capital Management of KS Inc. now owns 23,940 shares of the company worth $4,095,000 after acquiring 957 additional shares in the last quarter. Finally, Miracle Mile Advisors LLC increased its position in Johnson & Johnson shares by 4.9% in the fourth quarter. Miracle Mile Advisors LLC now owns 48,199 shares of the company worth $8,245,000 after acquiring 2,249 additional shares in the last quarter. 68.78% of the shares are currently held by institutional investors.
NYSEJNJ opened at $178.28 on Friday. Johnson & Johnson has a 12-month low of $155.72 and a 12-month high of $186.69. The company has a debt ratio of 0.39, a current ratio of 1.39 and a quick ratio of 1.14. The company has a market capitalization of $469.13 billion, a price-to-earnings ratio of 24.03, a growth price-to-earnings ratio of 3.53 and a beta of 0.63. The company’s fifty-day moving average price is $176.89 and its two-hundred-day moving average price is $174.10.
Johnson & Johnson (NYSE:JNJ – Get a rating) last released its quarterly results on Tuesday, April 19. The company reported earnings per share (EPS) of $2.67 for the quarter, beating analyst consensus estimates of $2.60 by $0.07. Johnson & Johnson had a net margin of 20.90% and a return on equity of 36.59%. The company posted revenue of $23.43 billion for the quarter, versus a consensus estimate of $23.62 billion. During the same period last year, the company posted EPS of $2.59. The company’s revenue for the quarter increased 5.0% year over year. As a group, analysts expect Johnson & Johnson to post EPS of 10.23 for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, June 7. Shareholders of record on Tuesday, May 24 received a dividend of $1.13. This is an increase from Johnson & Johnson’s previous quarterly dividend of $1.06. This represents a dividend of $4.52 on an annualized basis and a dividend yield of 2.54%. The ex-dividend date was Monday, May 23. Johnson & Johnson’s dividend payout ratio (DPR) is currently 60.92%.
Separately, Executive Vice President Kathryn E. Wengel sold 40,000 shares in a trade dated Friday, June 10. The shares were sold at an average price of $173.00, for a total value of $6,920,000.00. Following the sale, the executive vice president now owns 71,311 shares of the company, valued at approximately $12,336,803. The transaction was disclosed in a document filed with the SEC, accessible via this hyperlink. Also, insider William Haiti sold 29,699 shares in a trade dated Thursday, April 21. The stock was sold at an average price of $183.58, for a total transaction of $5,452,142.42. Following the completion of the sale, the insider now directly owns 80,236 shares of the company, valued at approximately $14,729,724.88. Disclosure of this sale can be found here. In the past 90 days, insiders have sold 78,161 shares of the company worth $13,895,302. Insiders own 0.35% of the shares of the company.
Several brokerages have recently weighed in on JNJ. Sanford C. Bernstein downgraded Johnson & Johnson shares from an “outperforming” rating to a “market performing” rating and raised their target price for the company from $180.00 to $183.00 in a research note from Wednesday, March 16. Daiwa Capital Markets began covering Johnson & Johnson shares in a research note on Wednesday June 22. They gave the company an “outperform” rating. StockNews.com upgraded Johnson & Johnson shares from a “buy” to a “strong buy” rating in a Tuesday, May 17 research rating. Credit Suisse Group raised its price target on Johnson & Johnson shares from $200.00 to $205.00 and gave the company an “outperform” rating in a Wednesday, April 20 research note. Finally, Morgan Stanley raised its target price on Johnson & Johnson shares from $173.00 to $174.00 and gave the company an “equal weight” rating in a research note on Friday. Four equity research analysts gave the stock a hold rating, six issued a buy rating and one gave the company a high buy rating. According to data from MarketBeat.com, Johnson & Johnson currently has an average rating of “Moderate Buy” and an average target price of $190.67.
Johnson & Johnson Profile (Get a rating)
Johnson & Johnson, together with its subsidiaries, researches and develops, manufactures and sells various healthcare products worldwide. The Company’s Consumer Health segment offers baby care products under the JOHNSON’S and AVEENO Baby brands; oral care products under the LISTERINE brand; skin health/beauty products under the brands AVEENO, CLEAN & CLEAR, DR.
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