Johnson & Johnson (NYSE:JNJ) Stake Increased by Abundance Wealth Counselors

Abundance Wealth Counselors raised its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 1.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,629 shares of the company’s stock after purchasing an additional 144 shares during the period. Abundance Wealth Counselors’ holdings in Johnson & Johnson were worth $1,523,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in JNJ. Keener Financial Planning LLC bought a new stake in Johnson & Johnson during the fourth quarter valued at $40,000. WFA Asset Management Corp increased its stake in Johnson & Johnson by 61.4% during the fourth quarter. WFA Asset Management Corp now owns 255 shares of the company’s stock valued at $40,000 after purchasing an additional 97 shares during the last quarter. Vermillion & White Wealth Management Group LLC bought a new stake in Johnson & Johnson during the fourth quarter valued at $44,000. Disciplined Equity Management Inc. bought a new stake in Johnson & Johnson during the fourth quarter valued at $45,000. Finally, Grayhawk Investment Strategies Inc. increased its stake in Johnson & Johnson by 528.6% during the fourth quarter. Grayhawk Investment Strategies Inc. now owns 308 shares of the company’s stock valued at $48,000 after purchasing an additional 259 shares during the last quarter. Institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Price Performance

Shares of NYSE JNJ opened at $145.69 on Friday. Johnson & Johnson has a twelve month low of $143.13 and a twelve month high of $175.97. The company has a current ratio of 1.17, a quick ratio of 0.94 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $350.63 billion, a price-to-earnings ratio of 9.08, a PEG ratio of 2.42 and a beta of 0.52. The firm has a 50-day moving average of $147.96 and a two-hundred day moving average of $153.85.

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

Johnson & Johnson Increases Dividend

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

Wall Street Analyst Weigh In

JNJ has been the subject of several analyst reports. StockNews.com raised shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Sunday, June 30th. Royal Bank of Canada reissued an “outperform” rating and set a $175.00 price target on shares of Johnson & Johnson in a report on Monday, June 17th. Cantor Fitzgerald reissued an “overweight” rating and set a $215.00 price target on shares of Johnson & Johnson in a report on Monday. Bank of America reduced their price target on shares of Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating for the company in a report on Wednesday, April 17th. Finally, 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 for the company. Eight research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average 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.