Lorne Steinberg Wealth Management Inc. Buys 7,282 Shares of Johnson & Johnson (NYSE:JNJ)

Lorne Steinberg Wealth Management Inc. raised its holdings in Johnson & Johnson (NYSE:JNJFree Report) by 41.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 24,909 shares of the company’s stock after buying an additional 7,282 shares during the period. Lorne Steinberg Wealth Management Inc.’s holdings in Johnson & Johnson were worth $3,940,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in JNJ. Christopher J. Hasenberg Inc acquired a new position in shares of Johnson & Johnson during the 1st quarter worth about $31,000. Keener Financial Planning LLC bought a new stake in Johnson & Johnson in the 4th quarter valued at about $40,000. WFA Asset Management Corp boosted its holdings in Johnson & Johnson by 61.4% in the 4th quarter. WFA Asset Management Corp now owns 255 shares of the company’s stock valued at $40,000 after purchasing an additional 97 shares during the period. Vermillion & White Wealth Management Group LLC bought a new stake in shares of Johnson & Johnson during the 4th quarter worth approximately $44,000. Finally, Disciplined Equity Management Inc. bought a new stake in shares of Johnson & Johnson during the 4th quarter worth approximately $45,000. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have issued reports on JNJ shares. Cantor Fitzgerald restated an “overweight” rating and issued a $215.00 price target on shares of Johnson & Johnson in a research report on Monday, July 1st. HSBC upgraded shares of Johnson & Johnson from a “hold” rating to a “buy” rating and increased their price objective for the stock from $169.00 to $170.00 in a research report on Thursday, April 18th. StockNews.com upgraded shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Sunday, June 30th. Bank of America cut their target price on shares of Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 17th. Finally, Morgan Stanley cut their target price on shares of 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. Eight research 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 currently has an average rating of “Moderate Buy” and an average price target of $174.07.

Get Our Latest Analysis on JNJ

Johnson & Johnson Stock Up 1.6 %

JNJ opened at $149.41 on Thursday. Johnson & Johnson has a fifty-two week low of $143.13 and a fifty-two week high of $175.97. The company’s 50-day moving average is $147.93 and its 200 day moving average is $153.56. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.17 and a quick ratio of 0.94. The firm has a market capitalization of $359.58 billion, a P/E ratio of 9.31, a PEG ratio of 2.42 and a beta of 0.52.

Johnson & Johnson (NYSE:JNJGet Free Report) last posted its quarterly earnings data on Tuesday, April 16th. The company reported $2.71 earnings per share (EPS) for the quarter, topping 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 business 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 company posted $2.68 earnings per share. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. Research analysts expect that Johnson & Johnson will post 10.62 earnings per share for the current fiscal year.

Johnson & Johnson Increases Dividend

The firm 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. This is an increase from Johnson & Johnson’s previous quarterly dividend of $1.19. 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%. Johnson & Johnson’s dividend payout ratio (DPR) is presently 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.

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

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