Johnson & Johnson (NYSE:JNJ) Shares Acquired by Red Door Wealth Management LLC

Red Door Wealth Management LLC boosted its position in shares of Johnson & Johnson (NYSE:JNJ) by 2.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 47,322 shares of the company’s stock after purchasing an additional 921 shares during the quarter. Johnson & Johnson makes up 1.4% of Red Door Wealth Management LLC’s portfolio, making the stock its 20th biggest holding. Red Door Wealth Management LLC’s holdings in Johnson & Johnson were worth $7,486,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Keener Financial Planning LLC acquired a new position in shares of Johnson & Johnson in the fourth quarter worth $40,000. WFA Asset Management Corp raised its holdings in shares of Johnson & Johnson by 61.4% in the fourth quarter. WFA Asset Management Corp now owns 255 shares of the company’s stock worth $40,000 after acquiring an additional 97 shares during the last quarter. Vermillion & White Wealth Management Group LLC acquired a new position in shares of Johnson & Johnson in the fourth quarter worth $44,000. Disciplined Equity Management Inc. acquired a new position in shares of Johnson & Johnson in the fourth quarter worth $45,000. Finally, Grayhawk Investment Strategies Inc. raised its holdings in shares of Johnson & Johnson by 528.6% in the fourth quarter. Grayhawk Investment Strategies Inc. now owns 308 shares of the company’s stock worth $48,000 after acquiring an additional 259 shares during the last quarter. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. The Goldman Sachs Group assumed coverage on Johnson & Johnson in a report on Thursday, May 30th. They issued a “neutral” rating and a $160.00 price target for the company. HSBC upgraded Johnson & Johnson from a “hold” rating to a “buy” rating and upped their target price for the company from $169.00 to $170.00 in a research note on Thursday, April 18th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $215.00 target price on shares of Johnson & Johnson in a research note on Monday. Royal Bank of Canada reiterated an “outperform” rating and issued a $175.00 target price on shares of Johnson & Johnson in a research note on Monday, June 17th. Finally, Morgan Stanley dropped their target price on Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 17th. Eight research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Johnson & Johnson currently has a consensus rating of “Moderate Buy” and an average target price of $174.07.

Johnson & Johnson Price Performance

Shares of NYSE JNJ opened at $146.42 on Tuesday. Johnson & Johnson has a 1-year low of $143.13 and a 1-year high of $175.97. The business has a 50-day moving average of $148.14 and a 200-day moving average of $154.05. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.17 and a quick ratio of 0.94. The company has a market capitalization of $352.39 billion, a price-to-earnings ratio of 9.13, a PEG ratio of 2.43 and a beta of 0.52.

Johnson & Johnson (NYSE:JNJ) last issued its earnings results on Tuesday, April 16th. The company reported $2.71 earnings per share for the quarter, topping the consensus estimate of $2.64 by $0.07. Johnson & Johnson had a return on equity of 36.70% and a net margin of 45.26%. The company had revenue of $21.38 billion during the quarter, compared to the consensus estimate of $21.39 billion. During the same quarter in the prior year, the business earned $2.68 earnings per share. The company’s revenue was up 2.3% compared to the same quarter last year. On average, equities analysts anticipate that Johnson & Johnson will post 10.62 EPS for the current fiscal year.

Johnson & Johnson Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 4th. Investors of record on Tuesday, May 21st were issued a $1.24 dividend. The ex-dividend date of this dividend was Monday, May 20th. This represents a $4.96 dividend on an annualized basis and a yield of 3.39%. This is an increase from Johnson & Johnson’s previous quarterly dividend of $1.19. Johnson & Johnson’s dividend payout ratio is currently 30.92%.

About Johnson & Johnson

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.