Oppenheimer Asset Management Inc. Buys 76,201 Shares of Johnson & Johnson (NYSE:JNJ)

Oppenheimer Asset Management Inc. increased its holdings in Johnson & Johnson (NYSE:JNJ) by 13.1% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 656,765 shares of the company’s stock after acquiring an additional 76,201 shares during the quarter. Johnson & Johnson makes up 1.4% of Oppenheimer Asset Management Inc.’s portfolio, making the stock its 8th biggest position. Oppenheimer Asset Management Inc.’s holdings in Johnson & Johnson were worth $108,918,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. WealthTrak Capital Management LLC bought a new stake in Johnson & Johnson in the fourth quarter valued at about $26,000. Mountain Hill Investment Partners Corp. acquired a new position in Johnson & Johnson during the 4th quarter valued at about $29,000. Conquis Financial LLC bought a new position in Johnson & Johnson in the 4th quarter worth approximately $33,000. Bernard Wealth Management Corp. bought a new position in shares of Johnson & Johnson in the fourth quarter worth $36,000. Finally, Runnymede Capital Advisors Inc. acquired a new stake in Johnson & Johnson in the fourth quarter worth about $38,000. Institutional investors and hedge funds own 69.55% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on JNJ. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $181.00 price target on shares of Johnson & Johnson in a research note on Thursday, June 5th. Bank of America decreased their price target on Johnson & Johnson from $171.00 to $159.00 and set a “neutral” rating for the company in a research report on Thursday, April 10th. Leerink Partnrs lowered Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 13th. Wall Street Zen upgraded shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Saturday. Finally, Barclays dropped their target price on Johnson & Johnson from $166.00 to $165.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 17th. Eleven analysts have rated the stock with a hold rating, seven have given a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Johnson & Johnson currently has an average rating of “Moderate Buy” and an average target price of $170.88.

Johnson & Johnson Trading Up 0.6%

Shares of NYSE:JNJ opened at $152.27 on Wednesday. The company has a market cap of $366.36 billion, a P/E ratio of 16.94, a P/E/G ratio of 2.29 and a beta of 0.42. The stock’s 50-day moving average is $153.99 and its 200-day moving average is $153.68. Johnson & Johnson has a 52-week low of $140.68 and a 52-week high of $169.99. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.03 and a current ratio of 1.26.

Johnson & Johnson (NYSE:JNJ) last released its earnings results on Tuesday, April 15th. The company reported $2.77 earnings per share for the quarter, beating the consensus estimate of $2.59 by $0.18. Johnson & Johnson had a net margin of 24.42% and a return on equity of 33.46%. The business had revenue of $21.89 billion during the quarter, compared to analysts’ expectations of $21.65 billion. Equities research analysts predict that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Tuesday, May 27th were paid a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 3.42%. The ex-dividend date was Tuesday, May 27th. This is a boost from Johnson & Johnson’s previous quarterly dividend of $1.24. Johnson & Johnson’s dividend payout ratio (DPR) is presently 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.