Johnson & Johnson (NYSE:JNJ) Shares Bought by Oak Asset Management LLC

Oak Asset Management LLC grew its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 0.8% during the first quarter, Holdings Channel.com reports. The firm owned 26,385 shares of the company’s stock after buying an additional 220 shares during the quarter. Johnson & Johnson accounts for approximately 1.6% of Oak Asset Management LLC’s portfolio, making the stock its 18th biggest position. Oak Asset Management LLC’s holdings in Johnson & Johnson were worth $4,376,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. raised its position in shares of Johnson & Johnson by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 232,792,559 shares of the company’s stock worth $33,666,460,000 after buying an additional 1,772,706 shares in the last quarter. Geode Capital Management LLC raised its holdings in Johnson & Johnson by 2.8% during the fourth quarter. Geode Capital Management LLC now owns 57,667,920 shares of the company’s stock worth $8,321,881,000 after purchasing an additional 1,561,036 shares in the last quarter. Northern Trust Corp boosted its stake in Johnson & Johnson by 12.3% during the 4th quarter. Northern Trust Corp now owns 30,813,175 shares of the company’s stock valued at $4,456,201,000 after purchasing an additional 3,363,235 shares in the last quarter. Norges Bank acquired a new position in shares of Johnson & Johnson during the 4th quarter valued at $4,390,037,000. Finally, Wellington Management Group LLP raised its stake in shares of Johnson & Johnson by 1.8% in the 4th quarter. Wellington Management Group LLP now owns 24,356,572 shares of the company’s stock worth $3,522,447,000 after buying an additional 431,205 shares in the last quarter. Institutional investors and hedge funds own 69.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on JNJ. Benchmark raised Johnson & Johnson to a “strong-buy” rating in a report on Thursday, April 24th. Wall Street Zen downgraded shares of Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 22nd. Sanford C. Bernstein restated a “market perform” rating on shares of Johnson & Johnson in a report on Wednesday, April 16th. Bank of America decreased their target price on shares of Johnson & Johnson from $171.00 to $159.00 and set a “neutral” rating for the company in a report on Thursday, April 10th. Finally, Raymond James reduced their price target on shares of Johnson & Johnson from $165.00 to $162.00 and set an “outperform” rating for the company in a research report on Monday, April 14th. Eleven equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Johnson & Johnson has an average rating of “Moderate Buy” and a consensus price target of $170.88.

Johnson & Johnson Price Performance

Shares of NYSE:JNJ opened at $153.39 on Thursday. The firm has a market cap of $369.07 billion, a price-to-earnings ratio of 23.07, a P/E/G ratio of 2.56 and a beta of 0.42. Johnson & Johnson has a 1 year low of $140.68 and a 1 year high of $169.99. The company has a current ratio of 1.11, a quick ratio of 0.86 and a debt-to-equity ratio of 0.43. The business has a fifty day simple moving average of $153.81 and a 200 day simple moving average of $153.67.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings results on Tuesday, April 15th. The company reported $2.77 earnings per share for the quarter, topping analysts’ consensus estimates of $2.59 by $0.18. The company had revenue of $21.89 billion during the quarter, compared to the consensus estimate of $21.65 billion. Johnson & Johnson had a return on equity of 34.24% and a net margin of 18.20%. As a group, sell-side analysts predict that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Tuesday, May 27th will be paid a $1.30 dividend. The ex-dividend date of this dividend is Tuesday, May 27th. This is a boost from Johnson & Johnson’s previous quarterly dividend of $1.24. This represents a $5.20 dividend on an annualized basis and a yield of 3.39%. Johnson & Johnson’s payout ratio is 57.84%.

About Johnson & Johnson

Johnson & Johnson is a holding company, which engages in the research, development, manufacture, and sale of products in the healthcare field. It operates through the Innovative Medicine and MedTech segments. The Innovative Medicine segment focuses on immunology, infectious diseases, neuroscience, oncology, cardiovascular and metabolism, and pulmonary hypertension.