Johnson & Johnson (NYSE:JNJ) Position Boosted by Summit Financial Wealth Advisors LLC

Summit Financial Wealth Advisors LLC boosted its stake in shares of Johnson & Johnson (NYSE:JNJFree Report) by 26.3% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,392 shares of the company’s stock after purchasing an additional 1,122 shares during the period. Summit Financial Wealth Advisors LLC’s holdings in Johnson & Johnson were worth $853,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Pathway Financial Advisors LLC increased its holdings in shares of Johnson & Johnson by 4.3% during the 4th quarter. Pathway Financial Advisors LLC now owns 5,438 shares of the company’s stock worth $852,000 after purchasing an additional 226 shares during the period. Daiwa Securities Group Inc. grew its position in Johnson & Johnson by 5.5% during the fourth quarter. Daiwa Securities Group Inc. now owns 297,850 shares of the company’s stock worth $46,685,000 after buying an additional 15,490 shares in the last quarter. OneAscent Financial Services LLC increased its stake in Johnson & Johnson by 82.8% during the fourth quarter. OneAscent Financial Services LLC now owns 9,838 shares of the company’s stock valued at $1,542,000 after acquiring an additional 4,457 shares during the period. Drive Wealth Management LLC raised its holdings in Johnson & Johnson by 4.5% in the 1st quarter. Drive Wealth Management LLC now owns 9,625 shares of the company’s stock valued at $1,523,000 after acquiring an additional 414 shares in the last quarter. Finally, Vestmark Advisory Solutions Inc. grew its holdings in shares of Johnson & Johnson by 12.7% during the 4th quarter. Vestmark Advisory Solutions Inc. now owns 19,587 shares of the company’s stock worth $3,070,000 after purchasing an additional 2,201 shares in the last quarter. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on JNJ. The Goldman Sachs Group began coverage on shares of Johnson & Johnson in a research note on Thursday, May 30th. They set a “neutral” rating and a $160.00 price target on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $215.00 price target on shares of Johnson & Johnson in a research report on Monday, July 1st. Bank of America lowered their price objective on Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 17th. Morgan Stanley decreased their price target on Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 17th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $175.00 price objective on shares of Johnson & Johnson in a research note on Monday, June 17th. Eight investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Johnson & Johnson presently has a consensus rating of “Moderate Buy” and a consensus price target of $174.07.

View Our Latest Stock Report on Johnson & Johnson

Johnson & Johnson Trading Up 1.1 %

JNJ opened at $147.05 on Wednesday. The stock has a market capitalization of $353.90 billion, a P/E ratio of 9.17, a P/E/G ratio of 2.42 and a beta of 0.52. The company has a current ratio of 1.17, a quick ratio of 0.94 and a debt-to-equity ratio of 0.36. Johnson & Johnson has a 12 month low of $143.13 and a 12 month high of $175.97. The firm’s fifty day simple moving average is $147.96 and its 200 day simple moving average is $153.59.

Johnson & Johnson (NYSE:JNJGet Free Report) last released its quarterly earnings results on Tuesday, April 16th. The company reported $2.71 earnings per share for the quarter, topping analysts’ consensus estimates of $2.64 by $0.07. The firm had revenue of $21.38 billion during the quarter, compared to the consensus estimate of $21.39 billion. Johnson & Johnson had a return on equity of 36.70% and a net margin of 45.26%. The business’s revenue was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.68 EPS. As a group, research analysts anticipate that Johnson & Johnson will post 10.62 EPS for the current fiscal year.

Johnson & Johnson Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 4th. Investors of record on Tuesday, May 21st were issued a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a yield of 3.37%. The ex-dividend date of this dividend was Monday, May 20th. This is a positive change from Johnson & Johnson’s previous quarterly dividend of $1.19. Johnson & Johnson’s dividend payout ratio is presently 30.92%.

About Johnson & Johnson

(Free Report)

Johnson & Johnson, together with its subsidiaries, researches, develops, manufactures, and sells various products in the healthcare field worldwide. The company's Innovative Medicine segment offers products for various therapeutic areas, such as immunology, including rheumatoid arthritis, psoriatic arthritis, inflammatory bowel disease, and psoriasis; infectious diseases comprising HIV/AIDS; neuroscience, consisting of mood disorders, neurodegenerative disorders, and schizophrenia; oncology, such as prostate cancer, hematologic malignancies, lung cancer, and bladder cancer; cardiovascular and metabolism, including thrombosis, diabetes, and macular degeneration; and pulmonary hypertension comprising pulmonary arterial hypertension through retailers, wholesalers, distributors, hospitals, and healthcare professionals for prescription use.

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Institutional Ownership by Quarter for Johnson & Johnson (NYSE:JNJ)

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