Prospect Financial Services LLC Purchases Shares of 1,613 Johnson & Johnson (NYSE:JNJ)

Prospect Financial Services LLC acquired a new position in shares of Johnson & Johnson (NYSE:JNJ) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 1,613 shares of the company’s stock, valued at approximately $268,000.

Other institutional investors and hedge funds have also modified their holdings of the company. WealthTrak Capital Management LLC bought a new position in Johnson & Johnson during the fourth quarter worth about $26,000. Mountain Hill Investment Partners Corp. acquired a new position in shares of Johnson & Johnson in the 4th quarter worth approximately $29,000. Bay Harbor Wealth Management LLC bought a new position in shares of Johnson & Johnson during the 4th quarter worth approximately $32,000. Conquis Financial LLC acquired a new stake in Johnson & Johnson in the 4th quarter valued at $33,000. Finally, Bernard Wealth Management Corp. bought a new stake in Johnson & Johnson in the fourth quarter valued at $36,000. 69.55% of the stock is currently owned by institutional investors.

Johnson & Johnson Price Performance

Johnson & Johnson stock opened at $155.02 on Friday. The stock has a market cap of $372.99 billion, a price-to-earnings ratio of 23.31, a P/E/G ratio of 2.56 and a beta of 0.42. Johnson & Johnson has a 12-month low of $140.68 and a 12-month high of $169.99. The company has a quick ratio of 0.86, a current ratio of 1.11 and a debt-to-equity ratio of 0.43. The business’s 50-day simple moving average is $153.59 and its 200 day simple moving average is $153.68.

Johnson & Johnson (NYSE:JNJ) last issued its earnings results on Tuesday, April 15th. The company reported $2.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.59 by $0.18. The company had revenue of $21.89 billion for the quarter, compared to analyst estimates of $21.65 billion. Johnson & Johnson had a net margin of 18.20% and a return on equity of 34.24%. As a group, research analysts anticipate that Johnson & Johnson will post 10.58 earnings per share for the current 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 given a dividend of $1.30 per share. This is a boost from Johnson & Johnson’s previous quarterly dividend of $1.24. The ex-dividend date is Tuesday, May 27th. This represents a $5.20 annualized dividend and a dividend yield of 3.35%. Johnson & Johnson’s payout ratio is presently 57.84%.

Analysts Set New Price Targets

A number of research analysts have issued reports on JNJ shares. The Goldman Sachs Group raised Johnson & Johnson from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $157.00 to $172.00 in a report on Wednesday, April 9th. Bank of America cut their price target 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. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Johnson & Johnson in a research note on Wednesday, April 16th. Benchmark upgraded shares of Johnson & Johnson to a “strong-buy” rating in a research note on Thursday, April 24th. Finally, Guggenheim restated a “neutral” rating on shares of Johnson & Johnson in a research report on Wednesday, April 2nd. Eleven research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $170.88.

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.