Johnson & Johnson (NYSE:JNJ) Position Lifted by Cox Capital Mgt LLC

Cox Capital Mgt LLC grew its stake in Johnson & Johnson (NYSE:JNJ) by 0.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 21,221 shares of the company’s stock after purchasing an additional 120 shares during the quarter. Johnson & Johnson makes up approximately 2.1% of Cox Capital Mgt LLC’s holdings, making the stock its 16th biggest holding. Cox Capital Mgt LLC’s holdings in Johnson & Johnson were worth $3,357,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of JNJ. Norges Bank bought a new position in Johnson & Johnson during the 4th quarter worth approximately $4,071,642,000. Wellington Management Group LLP lifted its stake in Johnson & Johnson by 16.4% during the fourth quarter. Wellington Management Group LLP now owns 24,019,725 shares of the company’s stock worth $3,764,852,000 after purchasing an additional 3,391,657 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in Johnson & Johnson by 7,875.8% in the fourth quarter. International Assets Investment Management LLC now owns 2,090,384 shares of the company’s stock worth $327,647,000 after purchasing an additional 2,064,175 shares during the period. Janney Montgomery Scott LLC bought a new stake in Johnson & Johnson during the fourth quarter valued at $193,050,000. Finally, abrdn plc increased its stake in Johnson & Johnson by 104.1% during the fourth quarter. abrdn plc now owns 2,014,743 shares of the company’s stock valued at $315,791,000 after purchasing an additional 1,027,441 shares during the last quarter. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Johnson & Johnson Price Performance

Shares of JNJ opened at $148.74 on Friday. Johnson & Johnson has a one year low of $143.13 and a one year high of $175.97. The stock’s fifty day moving average is $148.05 and its 200-day moving average is $154.38. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.94 and a current ratio of 1.17. The firm has a market capitalization of $357.97 billion, a price-to-earnings ratio of 9.27, a price-to-earnings-growth ratio of 2.46 and a beta of 0.53.

Johnson & Johnson (NYSE:JNJ) last released its earnings results on Tuesday, April 16th. The company reported $2.71 EPS for the quarter, beating the consensus estimate of $2.64 by $0.07. Johnson & Johnson had a net margin of 45.26% and a return on equity of 36.70%. The firm had revenue of $21.38 billion for the quarter, compared to analysts’ expectations of $21.39 billion. During the same quarter last year, the company earned $2.68 EPS. Johnson & Johnson’s quarterly revenue was up 2.3% on a year-over-year basis. Equities analysts anticipate that Johnson & Johnson will post 10.63 EPS for the current year.

Johnson & Johnson Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 4th. Investors of record on Tuesday, May 21st were issued a dividend of $1.24 per share. This is a boost from Johnson & Johnson’s previous quarterly dividend of $1.19. The ex-dividend date of this dividend was Monday, May 20th. This represents a $4.96 annualized dividend and a yield of 3.33%. Johnson & Johnson’s payout ratio is presently 30.92%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on JNJ shares. StockNews.com downgraded shares of Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Cantor Fitzgerald restated an “overweight” rating and issued a $215.00 target price on shares of Johnson & Johnson in a research note on Thursday. Royal Bank of Canada reissued an “outperform” rating and issued a $175.00 price target on shares of Johnson & Johnson in a report on Monday, June 17th. Bank of America reduced their price objective on Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating for the company in a research report on Wednesday, April 17th. Finally, Morgan Stanley dropped their target price on 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. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Johnson & Johnson has an average rating of “Hold” and a consensus target price of $174.07.

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.