Foundry Partners LLC Buys 34,949 Shares of Johnson & Johnson (NYSE:JNJ)

Foundry Partners LLC grew its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 29.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 154,865 shares of the company’s stock after buying an additional 34,949 shares during the quarter. Johnson & Johnson accounts for about 1.3% of Foundry Partners LLC’s holdings, making the stock its 13th biggest position. Foundry Partners LLC’s holdings in Johnson & Johnson were worth $24,498,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. Norges Bank purchased a new stake in shares of Johnson & Johnson during the 4th quarter worth approximately $4,071,642,000. Wellington Management Group LLP raised its holdings in shares of Johnson & Johnson by 16.4% in the 4th quarter. Wellington Management Group LLP now owns 24,019,725 shares of the company’s stock valued at $3,764,852,000 after acquiring an additional 3,391,657 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Johnson & Johnson by 1.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 15,945,533 shares of the company’s stock valued at $2,483,532,000 after purchasing an additional 241,799 shares during the last quarter. California Public Employees Retirement System grew its position in Johnson & Johnson by 4.9% in the fourth quarter. California Public Employees Retirement System now owns 10,620,264 shares of the company’s stock worth $1,664,620,000 after acquiring an additional 498,647 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Johnson & Johnson by 10.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 10,169,190 shares of the company’s stock worth $1,593,908,000 after purchasing an additional 975,485 shares during the last quarter. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. TD Securities dropped their price target on Johnson & Johnson from $195.00 to $185.00 in a research note on Thursday. Cantor Fitzgerald restated an “overweight” rating and set a $215.00 price target on shares of Johnson & Johnson in a report on Monday, July 1st. Morgan Stanley boosted their price target on Johnson & Johnson from $167.00 to $169.00 and gave the company an “equal weight” rating in a report on Thursday. HSBC upgraded Johnson & Johnson from a “hold” rating to a “buy” rating and upped their target price for the stock from $169.00 to $170.00 in a report on Thursday, April 18th. Finally, The Goldman Sachs Group initiated coverage on Johnson & Johnson in a report on Thursday, May 30th. They set a “neutral” rating and a $160.00 target price on the stock. Eight research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $175.29.

Johnson & Johnson Stock Down 0.3 %

JNJ stock traded down $0.51 during midday trading on Thursday, hitting $156.07. The company’s stock had a trading volume of 5,823,062 shares, compared to its average volume of 7,303,452. The company has a market cap of $375.61 billion, a PE ratio of 9.77, a P/E/G ratio of 2.54 and a beta of 0.52. Johnson & Johnson has a 12 month low of $143.13 and a 12 month high of $175.97. The company has a current ratio of 1.17, a quick ratio of 0.94 and a debt-to-equity ratio of 0.36. The firm’s 50-day moving average is $148.15 and its 200-day moving average is $153.39.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings data on Wednesday, July 17th. The company reported $2.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.71 by $0.11. The business had revenue of $22.45 billion for the quarter, compared to analysts’ expectations of $22.33 billion. Johnson & Johnson had a return on equity of 36.70% and a net margin of 45.26%. The firm’s quarterly revenue was up 4.3% on a year-over-year basis. During the same period in the prior year, the firm posted $2.80 EPS. On average, equities research analysts forecast that Johnson & Johnson will post 10.49 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

The firm 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 3.18%. Johnson & Johnson’s dividend payout ratio (DPR) 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.