Johnson & Johnson (NYSE:JNJ) Shares Acquired by Wahed Invest LLC

Wahed Invest LLC lifted its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 7.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 41,171 shares of the company’s stock after purchasing an additional 2,988 shares during the quarter. Johnson & Johnson comprises approximately 1.7% of Wahed Invest LLC’s investment portfolio, making the stock its 10th biggest position. Wahed Invest LLC’s holdings in Johnson & Johnson were worth $6,453,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of JNJ. Pathway Financial Advisors LLC lifted its stake in Johnson & Johnson by 4.3% during the 4th quarter. Pathway Financial Advisors LLC now owns 5,438 shares of the company’s stock worth $852,000 after acquiring an additional 226 shares in the last quarter. Daiwa Securities Group Inc. grew its holdings in shares of Johnson & Johnson by 5.5% in the fourth quarter. Daiwa Securities Group Inc. now owns 297,850 shares of the company’s stock valued at $46,685,000 after purchasing an additional 15,490 shares in the last quarter. OneAscent Financial Services LLC increased its position in shares of Johnson & Johnson by 82.8% during the fourth quarter. OneAscent Financial Services LLC now owns 9,838 shares of the company’s stock worth $1,542,000 after acquiring an additional 4,457 shares during the period. Vestmark Advisory Solutions Inc. boosted its holdings in Johnson & Johnson by 12.7% in the fourth quarter. Vestmark Advisory Solutions Inc. now owns 19,587 shares of the company’s stock valued at $3,070,000 after purchasing an additional 2,201 shares during the period. Finally, TrueMark Investments LLC acquired a new position in shares of Johnson & Johnson during the fourth quarter worth $1,458,000. 69.55% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

JNJ has been the topic of a number of research analyst reports. Cantor Fitzgerald reissued an “overweight” rating and set a $215.00 price objective on shares of Johnson & Johnson in a report on Monday, May 6th. Morgan Stanley reduced their price target on shares of Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 17th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $175.00 price objective on shares of Johnson & Johnson in a report on Monday. StockNews.com downgraded Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a report on Monday, June 10th. Finally, The Goldman Sachs Group began coverage on Johnson & Johnson in a research note on Thursday, May 30th. They set a “neutral” rating and a $160.00 price target on the stock. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $174.07.

Johnson & Johnson Stock Performance

NYSE:JNJ opened at $145.97 on Tuesday. The firm has a market cap of $351.30 billion, a price-to-earnings ratio of 9.10, a price-to-earnings-growth ratio of 2.42 and a beta of 0.53. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.17 and a quick ratio of 0.94. Johnson & Johnson has a 1-year low of $143.13 and a 1-year high of $175.97. The firm’s fifty day moving average price is $148.27 and its 200 day moving average price is $154.65.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings results on Tuesday, April 16th. The company reported $2.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.64 by $0.07. The business had revenue of $21.38 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the previous year, the business posted $2.68 earnings per share. On average, sell-side analysts expect that Johnson & Johnson will post 10.63 EPS for the current year.

Johnson & Johnson Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 21st were issued a $1.24 dividend. This is a boost from Johnson & Johnson’s previous quarterly dividend of $1.19. This represents a $4.96 annualized dividend and a dividend yield of 3.40%. The ex-dividend date of this dividend was Monday, May 20th. Johnson & Johnson’s dividend payout ratio (DPR) 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.