Stewart & Patten Co. LLC Acquires 2,658 Shares of Johnson & Johnson (NYSE:JNJ)

Stewart & Patten Co. LLC increased its position in shares of Johnson & Johnson (NYSE:JNJ) by 1.5% during the first quarter, Holdings Channel reports. The institutional investor owned 180,560 shares of the company’s stock after purchasing an additional 2,658 shares during the quarter. Johnson & Johnson comprises 4.3% of Stewart & Patten Co. LLC’s holdings, making the stock its 7th biggest position. Stewart & Patten Co. LLC’s holdings in Johnson & Johnson were worth $28,563,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. 4J Wealth Management LLC grew its holdings in Johnson & Johnson by 2.2% during the 4th quarter. 4J Wealth Management LLC now owns 2,835 shares of the company’s stock worth $444,000 after acquiring an additional 62 shares during the period. My Personal CFO LLC grew its holdings in shares of Johnson & Johnson by 1.4% in the 4th quarter. My Personal CFO LLC now owns 4,550 shares of the company’s stock valued at $713,000 after buying an additional 62 shares during the period. Eagle Strategies LLC grew its holdings in shares of Johnson & Johnson by 1.8% in the 4th quarter. Eagle Strategies LLC now owns 3,589 shares of the company’s stock valued at $563,000 after buying an additional 63 shares during the period. Clearview Wealth Advisors LLC boosted its stake in Johnson & Johnson by 1.5% in the 4th quarter. Clearview Wealth Advisors LLC now owns 4,373 shares of the company’s stock worth $685,000 after purchasing an additional 64 shares during the period. Finally, Brookmont Capital Management boosted its stake in Johnson & Johnson by 0.4% in the 4th quarter. Brookmont Capital Management now owns 14,852 shares of the company’s stock worth $2,328,000 after purchasing an additional 64 shares during the period. 69.55% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Johnson & Johnson Stock Down 0.3 %

Johnson & Johnson stock opened at $146.03 on Wednesday. The stock has a market cap of $351.45 billion, a P/E ratio of 9.10, a P/E/G ratio of 2.43 and a beta of 0.52. The company has a quick ratio of 0.94, a current ratio of 1.17 and a debt-to-equity ratio of 0.36. Johnson & Johnson has a twelve month low of $143.13 and a twelve month high of $175.97. The company’s 50-day moving average price is $148.09 and its two-hundred day moving average price is $153.97.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings results on Tuesday, April 16th. The company reported $2.71 earnings per share for the quarter, beating the consensus estimate of $2.64 by $0.07. The firm had revenue of $21.38 billion for the quarter, compared to analysts’ expectations of $21.39 billion. Johnson & Johnson had a net margin of 45.26% and a return on equity of 36.70%. The business’s revenue was up 2.3% on a year-over-year basis. During the same period in the prior year, the firm earned $2.68 EPS. As a group, analysts expect that Johnson & Johnson will post 10.62 EPS for the current year.

Johnson & Johnson Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 4th. Shareholders of record on Tuesday, May 21st were given a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.40%. The ex-dividend date of this dividend was Monday, May 20th. This is a positive change from Johnson & Johnson’s previous quarterly dividend of $1.19. Johnson & Johnson’s dividend payout ratio is presently 30.92%.

Johnson & Johnson Company 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.