Covestor Ltd Purchases 660 Shares of Johnson & Johnson (NYSE:JNJ)

Covestor Ltd lifted its position in shares of Johnson & Johnson (NYSE:JNJ) by 49.7% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,989 shares of the company’s stock after buying an additional 660 shares during the quarter. Covestor Ltd’s holdings in Johnson & Johnson were worth $314,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Christopher J. Hasenberg Inc purchased a new stake in shares of Johnson & Johnson during the 1st quarter valued at about $31,000. Keener Financial Planning LLC purchased a new stake in shares of Johnson & Johnson during the 4th quarter worth $40,000. WFA Asset Management Corp grew its holdings in Johnson & Johnson by 61.4% in the fourth quarter. WFA Asset Management Corp now owns 255 shares of the company’s stock worth $40,000 after purchasing an additional 97 shares during the last quarter. Vermillion & White Wealth Management Group LLC purchased a new stake in Johnson & Johnson during the 4th quarter worth approximately $44,000. Finally, Disciplined Equity Management Inc. purchased a new position in Johnson & Johnson in the 4th quarter worth $45,000. 69.55% of the stock is owned by institutional investors.

Johnson & Johnson Stock Performance

JNJ traded down $1.86 during trading on Tuesday, hitting $152.38. 2,252,676 shares of the stock were exchanged, compared to its average volume of 7,295,766. The firm has a market capitalization of $366.73 billion, a P/E ratio of 9.47, a PEG ratio of 2.85 and a beta of 0.52. Johnson & Johnson has a 1-year low of $143.13 and a 1-year high of $175.97. The stock has a fifty day moving average price of $148.42 and a two-hundred day moving average price of $153.24. 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:JNJ) last announced its earnings results on Wednesday, July 17th. The company reported $2.82 earnings per share for the quarter, beating the consensus estimate of $2.71 by $0.11. Johnson & Johnson had a return on equity of 36.79% and a net margin of 46.34%. The company had revenue of $22.45 billion for the quarter, compared to the consensus estimate of $22.33 billion. During the same period last year, the business posted $2.80 EPS. The company’s revenue was up 4.3% on a year-over-year basis. As a group, sell-side analysts predict that Johnson & Johnson will post 10.07 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 27th will be paid a $1.24 dividend. The ex-dividend date is Tuesday, August 27th. This represents a $4.96 annualized dividend and a dividend yield of 3.26%. Johnson & Johnson’s dividend payout ratio (DPR) is currently 30.92%.

Analyst Ratings Changes

Several equities analysts recently weighed in on JNJ shares. HSBC upgraded Johnson & Johnson from a “hold” rating to a “buy” rating and lifted their price target for the company from $169.00 to $170.00 in a research note on Thursday, April 18th. Morgan Stanley raised their target price on Johnson & Johnson from $167.00 to $169.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 18th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $175.00 price target on shares of Johnson & Johnson in a research note on Thursday, July 18th. Sanford C. Bernstein boosted their price objective on shares of Johnson & Johnson from $161.00 to $171.00 in a report on Thursday, July 18th. Finally, The Goldman Sachs Group lowered their target price on shares of Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating for the company in a research note on Friday. Seven research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Johnson & Johnson currently has an average rating of “Moderate Buy” and an average price target of $173.00.

About Johnson & Johnson

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.