Blume Capital Management Inc. Boosts Stake in Johnson & Johnson (NYSE:JNJ)

Blume Capital Management Inc. increased its position in Johnson & Johnson (NYSE:JNJFree Report) by 2.6% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 59,265 shares of the company’s stock after purchasing an additional 1,500 shares during the quarter. Johnson & Johnson makes up about 2.3% of Blume Capital Management Inc.’s investment portfolio, making the stock its 17th largest holding. Blume Capital Management Inc.’s holdings in Johnson & Johnson were worth $9,375,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in JNJ. 4J Wealth Management LLC raised its holdings in Johnson & Johnson by 2.2% in the 4th quarter. 4J Wealth Management LLC now owns 2,835 shares of the company’s stock worth $444,000 after purchasing an additional 62 shares during the period. My Personal CFO LLC increased its position in Johnson & Johnson by 1.4% in the fourth quarter. My Personal CFO LLC now owns 4,550 shares of the company’s stock worth $713,000 after buying an additional 62 shares in the last quarter. Eagle Strategies LLC raised its stake in shares of Johnson & Johnson by 1.8% in the fourth quarter. Eagle Strategies LLC now owns 3,589 shares of the company’s stock worth $563,000 after buying an additional 63 shares during the period. Clearview Wealth Advisors LLC lifted its position in shares of Johnson & Johnson by 1.5% during the 4th quarter. Clearview Wealth Advisors LLC now owns 4,373 shares of the company’s stock valued at $685,000 after buying an additional 64 shares in the last quarter. Finally, Brookmont Capital Management grew its stake in shares of Johnson & Johnson by 0.4% during the 4th quarter. Brookmont Capital Management now owns 14,852 shares of the company’s stock valued at $2,328,000 after acquiring an additional 64 shares during the period. 69.55% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $215.00 price target on shares of Johnson & Johnson in a report on Monday, July 1st. The Goldman Sachs Group initiated coverage on shares of Johnson & Johnson in a report on Thursday, May 30th. They issued a “neutral” rating and a $160.00 target price for the company. StockNews.com raised Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Sunday, June 30th. Royal Bank of Canada reissued an “outperform” rating and set a $175.00 target price on shares of Johnson & Johnson in a research note on Monday, June 17th. Finally, HSBC upgraded Johnson & Johnson from a “hold” rating to a “buy” rating and upped their price target for the stock from $169.00 to $170.00 in a research note on Thursday, April 18th. Eight investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Johnson & Johnson has a consensus rating of “Moderate Buy” and a consensus target price of $174.07.

Check Out Our Latest Stock Report on Johnson & Johnson

Johnson & Johnson Price Performance

JNJ stock opened at $149.41 on Thursday. Johnson & Johnson has a 52 week low of $143.13 and a 52 week high of $175.97. The firm has a market capitalization of $359.58 billion, a P/E ratio of 9.31, a price-to-earnings-growth ratio of 2.42 and a beta of 0.52. The company has a fifty day simple moving average of $147.93 and a two-hundred day simple moving average of $153.56. The company has a quick ratio of 0.94, a current ratio of 1.17 and a debt-to-equity ratio of 0.36.

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

Johnson & Johnson Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 21st were paid a $1.24 dividend. The ex-dividend date of this dividend was Monday, May 20th. This represents a $4.96 annualized dividend and a dividend yield of 3.32%. This is an increase from Johnson & Johnson’s previous quarterly dividend of $1.19. Johnson & Johnson’s dividend payout ratio is currently 30.92%.

Johnson & Johnson Profile

(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.

Further Reading

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

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