Raymond James Trust N.A. Purchases 868 Shares of Johnson & Johnson (NYSE:JNJ)

Raymond James Trust N.A. boosted its position in Johnson & Johnson (NYSE:JNJ) by 0.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 217,494 shares of the company’s stock after acquiring an additional 868 shares during the quarter. Johnson & Johnson accounts for 0.7% of Raymond James Trust N.A.’s holdings, making the stock its 28th largest holding. Raymond James Trust N.A.’s holdings in Johnson & Johnson were worth $31,789,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Vestmark Advisory Solutions Inc. raised its position in Johnson & Johnson by 12.7% in the fourth quarter. Vestmark Advisory Solutions Inc. now owns 19,587 shares of the company’s stock valued at $3,070,000 after purchasing an additional 2,201 shares during the last quarter. California Public Employees Retirement System lifted its stake in shares of Johnson & Johnson by 4.9% in the 4th quarter. California Public Employees Retirement System now owns 10,620,264 shares of the company’s stock valued at $1,664,620,000 after purchasing an additional 498,647 shares during the period. Meridian Financial Partners LLC bought a new stake in shares of Johnson & Johnson during the 2nd quarter valued at about $1,626,000. Summit Financial Wealth Advisors LLC increased its holdings in Johnson & Johnson by 26.3% in the first quarter. Summit Financial Wealth Advisors LLC now owns 5,392 shares of the company’s stock worth $853,000 after purchasing an additional 1,122 shares in the last quarter. Finally, Gilbert & Cook Inc. lifted its stake in Johnson & Johnson by 3.3% in the fourth quarter. Gilbert & Cook Inc. now owns 9,111 shares of the company’s stock valued at $1,428,000 after buying an additional 288 shares during the period. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on JNJ shares. The Goldman Sachs Group reduced their price objective on shares of Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating for the company in a research report on Friday, July 19th. Daiwa Capital Markets cut shares of Johnson & Johnson from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $160.00 to $150.00 in a report on Tuesday, July 23rd. Sanford C. Bernstein upped their price objective on shares of Johnson & Johnson from $161.00 to $171.00 in a report on Thursday, July 18th. TD Cowen reduced their target price on Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating for the company in a research note on Thursday, July 18th. Finally, TD Securities decreased their target price on Johnson & Johnson from $195.00 to $185.00 in a research report on Thursday, July 18th. Seven equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $173.21.

Johnson & Johnson Stock Up 1.1 %

Shares of NYSE:JNJ traded up $1.78 during mid-day trading on Friday, hitting $164.13. 7,093,429 shares of the company traded hands, compared to its average volume of 7,299,449. The stock has a 50-day moving average price of $153.92 and a two-hundred day moving average price of $153.20. Johnson & Johnson has a 12-month low of $143.13 and a 12-month high of $167.78. The stock has a market cap of $395.01 billion, a P/E ratio of 10.23, a P/E/G ratio of 2.63 and a beta of 0.52. The company has a current ratio of 1.07, a quick ratio of 0.85 and a debt-to-equity ratio of 0.44.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings data on Wednesday, July 17th. The company reported $2.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.71 by $0.11. The firm had revenue of $22.45 billion for the quarter, compared to the consensus estimate of $22.33 billion. Johnson & Johnson had a net margin of 46.34% and a return on equity of 36.60%. The business’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.80 EPS. On average, equities research analysts forecast that Johnson & Johnson will post 10.07 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

The company also recently disclosed 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 of this dividend is Tuesday, August 27th. This represents a $4.96 annualized dividend and a yield of 3.02%. Johnson & Johnson’s dividend payout ratio (DPR) is 30.92%.

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.