Synergy Asset Management LLC Has $16.24 Million Stock Position in Johnson & Johnson (NYSE:JNJ)

Synergy Asset Management LLC raised its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 31.6% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 102,669 shares of the company’s stock after buying an additional 24,682 shares during the period. Johnson & Johnson comprises approximately 2.8% of Synergy Asset Management LLC’s investment portfolio, making the stock its 10th biggest position. Synergy Asset Management LLC’s holdings in Johnson & Johnson were worth $16,241,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Westhampton Capital LLC boosted its position in shares of Johnson & Johnson by 1.2% in the 1st quarter. Westhampton Capital LLC now owns 13,246 shares of the company’s stock valued at $2,095,000 after purchasing an additional 157 shares during the period. Cullinan Associates Inc. boosted its holdings in shares of Johnson & Johnson by 16.0% in the first quarter. Cullinan Associates Inc. now owns 238,791 shares of the company’s stock worth $37,774,000 after buying an additional 32,875 shares during the period. Iams Wealth Management LLC increased its position in shares of Johnson & Johnson by 6.2% in the first quarter. Iams Wealth Management LLC now owns 6,941 shares of the company’s stock worth $1,121,000 after acquiring an additional 406 shares in the last quarter. Main Line Retirement Advisors LLC raised its holdings in shares of Johnson & Johnson by 5.3% during the first quarter. Main Line Retirement Advisors LLC now owns 1,525 shares of the company’s stock valued at $241,000 after acquiring an additional 77 shares during the period. Finally, Stewart & Patten Co. LLC raised its holdings in shares of Johnson & Johnson by 1.5% during the first quarter. Stewart & Patten Co. LLC now owns 180,560 shares of the company’s stock valued at $28,563,000 after acquiring an additional 2,658 shares during the period. 69.55% of the stock is owned by institutional investors.

Johnson & Johnson Price Performance

Shares of NYSE:JNJ opened at $145.62 on Thursday. The business has a 50 day moving average price of $148.02 and a 200 day moving average price of $153.91. Johnson & Johnson has a twelve month low of $143.13 and a twelve month high of $175.97. The company has a market cap of $350.46 billion, a price-to-earnings ratio of 9.08, a PEG 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 (NYSE:JNJ) last announced its 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. Johnson & Johnson had a return on equity of 36.70% and a net margin of 45.26%. The firm 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 company earned $2.68 EPS. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. Research analysts predict that Johnson & Johnson will post 10.62 earnings per share for the current year.

Johnson & Johnson Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 4th. Shareholders of record on Tuesday, May 21st were given a $1.24 dividend. The ex-dividend date was Monday, May 20th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.41%. This is an increase from Johnson & Johnson’s previous quarterly dividend of $1.19. Johnson & Johnson’s dividend payout ratio (DPR) is currently 30.92%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. StockNews.com upgraded shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Sunday. Bank of America cut their price target on shares of Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating on the stock in a report on Wednesday, April 17th. The Goldman Sachs Group began coverage on shares of Johnson & Johnson in a report on Thursday, May 30th. They set a “neutral” rating and a $160.00 price target on the stock. HSBC raised shares of Johnson & Johnson from a “hold” rating to a “buy” rating and boosted their price objective for the company from $169.00 to $170.00 in a research report on Thursday, April 18th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $175.00 price objective on shares of Johnson & Johnson in a research report on Monday, June 17th. Eight investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $174.07.

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.