Alta Capital Management LLC boosted its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 97.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,323 shares of the company’s stock after buying an additional 1,638 shares during the quarter. Alta Capital Management LLC’s holdings in Johnson & Johnson were worth $435,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in JNJ. Exchange Traded Concepts LLC bought a new position in shares of Johnson & Johnson in the fourth quarter worth approximately $31,000. University of Texas Texas AM Investment Managment Co. bought a new position in shares of Johnson & Johnson in the fourth quarter worth approximately $31,000. Advocacy Wealth Management Services LLC boosted its position in shares of Johnson & Johnson by 38.2% in the first quarter. Advocacy Wealth Management Services LLC now owns 300 shares of the company’s stock worth $39,000 after purchasing an additional 83 shares during the period. Lion Street Advisors LLC bought a new position in shares of Johnson & Johnson in the first quarter worth approximately $45,000. Finally, Joseph P. Lucia & Associates LLC boosted its position in shares of Johnson & Johnson by 50.8% in the first quarter. Joseph P. Lucia & Associates LLC now owns 374 shares of the company’s stock worth $49,000 after purchasing an additional 126 shares during the period. Institutional investors own 67.66% of the company’s stock.
JNJ has been the topic of several research analyst reports. Bank of America raised shares of Johnson & Johnson from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $150.00 to $175.00 in a report on Wednesday, April 22nd. Credit Suisse Group reissued a “buy” rating and issued a $161.00 target price on shares of Johnson & Johnson in a report on Tuesday, April 28th. SVB Leerink decreased their price target on shares of Johnson & Johnson from $172.00 to $160.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 8th. Argus reaffirmed a “buy” rating and set a $155.00 price target (down previously from $165.00) on shares of Johnson & Johnson in a research note on Friday, March 27th. Finally, Stifel Nicolaus upped their price target on shares of Johnson & Johnson from $140.00 to $155.00 and gave the company a “hold” rating in a research note on Wednesday, April 15th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $163.47.
Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings results on Tuesday, April 14th. The company reported $2.30 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.03 by $0.27. The business had revenue of $20.69 billion during the quarter, compared to analyst estimates of $19.48 billion. Johnson & Johnson had a net margin of 24.47% and a return on equity of 39.71%. The company’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period in the prior year, the firm posted $2.10 earnings per share. As a group, equities analysts predict that Johnson & Johnson will post 7.68 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 9th. Investors of record on Tuesday, May 26th will be given a $1.01 dividend. This is a positive change from Johnson & Johnson’s previous quarterly dividend of $0.95. This represents a $4.04 annualized dividend and a dividend yield of 2.75%. The ex-dividend date is Friday, May 22nd. Johnson & Johnson’s dividend payout ratio (DPR) is presently 43.78%.
In related news, Director William D. Perez acquired 500 shares of the firm’s stock in a transaction that occurred on Friday, March 13th. The stock was purchased at an average cost of $127.69 per share, with a total value of $63,845.00. Following the transaction, the director now directly owns 16,030 shares of the company’s stock, valued at approximately $2,046,870.70. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.27% of the company’s stock.
Johnson & Johnson Company Profile
Johnson & Johnson, together with its subsidiaries, researches and develops, manufactures, and sells various products in the health care field worldwide. It operates in three segments: Consumer, Pharmaceutical, and Medical Devices. The Consumer segment offers baby care products under the JOHNSON'S brand; oral care products under the LISTERINE brand; beauty products under the AVEENO, CLEAN & CLEAR, DABAO, JOHNSON'S Adult, LE PETITE MARSEILLAIS, NEUTROGENA, and OGX brands; over-the-counter medicines, including acetaminophen products under the TYLENOL brand; cold, flu, and allergy products under the SUDAFED brand; allergy products under the BENADRYL and ZYRTEC brands; ibuprofen products under the MOTRIN IB brand; and acid reflux products under the PEPCID brand.
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