Edgestream Partners L.P. Increases Stock Position in Johnson & Johnson (NYSE:JNJ)

Edgestream Partners L.P. grew its holdings in Johnson & Johnson (NYSE:JNJ) by 18.4% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 30,821 shares of the company’s stock after buying an additional 4,779 shares during the period. Edgestream Partners L.P.’s holdings in Johnson & Johnson were worth $4,876,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in JNJ. Norges Bank purchased a new stake in shares of Johnson & Johnson in the fourth quarter valued at about $4,071,642,000. Wellington Management Group LLP increased its stake in shares of Johnson & Johnson by 16.4% during the fourth quarter. Wellington Management Group LLP now owns 24,019,725 shares of the company’s stock worth $3,764,852,000 after acquiring an additional 3,391,657 shares during the period. International Assets Investment Management LLC increased its stake in shares of Johnson & Johnson by 7,875.8% during the fourth quarter. International Assets Investment Management LLC now owns 2,090,384 shares of the company’s stock worth $327,647,000 after acquiring an additional 2,064,175 shares during the period. Janney Montgomery Scott LLC acquired a new position in shares of Johnson & Johnson during the fourth quarter worth about $193,050,000. Finally, Focused Investors Fund L P acquired a new position in shares of Johnson & Johnson during the first quarter worth about $193,996,000. 69.55% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on JNJ. Daiwa Capital Markets lowered shares of Johnson & Johnson from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $160.00 to $150.00 in a research note on Tuesday. Morgan Stanley boosted their price target on shares of Johnson & Johnson from $167.00 to $169.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 18th. The Goldman Sachs Group lowered their target price on shares of Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating on the stock in a research report on Friday. Cantor Fitzgerald restated an “overweight” rating and set a $215.00 target price on shares of Johnson & Johnson in a research report on Monday, July 1st. Finally, TD Cowen lowered their target price on shares of Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating on the stock in a research report on Thursday, July 18th. Seven equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $173.00.

Johnson & Johnson Trading Down 1.5 %

Shares of JNJ traded down $2.36 on Tuesday, hitting $151.88. 1,148,017 shares of the stock traded hands, compared to its average volume of 7,286,494. The stock’s 50 day moving average is $148.42 and its two-hundred day moving average is $153.24. Johnson & Johnson has a 1 year low of $143.13 and a 1 year high of $175.97. The company has a quick ratio of 0.94, a current ratio of 1.17 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $365.53 billion, a P/E ratio of 9.62, a P/E/G ratio of 2.85 and a beta of 0.52.

Johnson & Johnson (NYSE:JNJ) last issued its earnings results on Wednesday, July 17th. The company reported $2.82 EPS for the quarter, beating analysts’ consensus estimates of $2.71 by $0.11. Johnson & Johnson had a net margin of 46.34% and a return on equity of 36.79%. The business had revenue of $22.45 billion for the quarter, compared to the consensus estimate of $22.33 billion. During the same quarter last year, the firm posted $2.80 EPS. The business’s revenue for the quarter was up 4.3% compared to the same quarter last year. As a group, sell-side analysts predict that Johnson & Johnson will post 10.07 earnings per share for the current year.

Johnson & Johnson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Tuesday, August 27th will be given a $1.24 dividend. The ex-dividend date of this dividend is Tuesday, August 27th. This represents a $4.96 annualized dividend and a yield of 3.27%. Johnson & Johnson’s dividend payout ratio is presently 30.92%.

Johnson & Johnson Profile

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.