Revolve Wealth Partners LLC Boosts Holdings in Johnson & Johnson (NYSE:JNJ)

Revolve Wealth Partners LLC raised its holdings in Johnson & Johnson (NYSE:JNJ) by 2.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,746 shares of the company’s stock after buying an additional 145 shares during the quarter. Revolve Wealth Partners LLC’s holdings in Johnson & Johnson were worth $1,067,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in JNJ. Norges Bank purchased a new stake in shares of Johnson & Johnson during the 4th quarter worth about $4,071,642,000. Wellington Management Group LLP grew its holdings in shares of Johnson & Johnson by 16.4% during the 4th 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 period. Charles Schwab Investment Management Inc. grew its holdings in shares of Johnson & Johnson by 1.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 15,945,533 shares of the company’s stock worth $2,483,532,000 after purchasing an additional 241,799 shares during the period. California Public Employees Retirement System boosted its holdings in Johnson & Johnson by 4.9% in the 4th quarter. California Public Employees Retirement System now owns 10,620,264 shares of the company’s stock worth $1,664,620,000 after acquiring an additional 498,647 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in Johnson & Johnson by 10.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 10,169,190 shares of the company’s stock worth $1,593,908,000 after acquiring an additional 975,485 shares during the period. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on JNJ shares. Cantor Fitzgerald restated an “overweight” rating and issued a $215.00 price target on shares of Johnson & Johnson in a report on Thursday, June 20th. The Goldman Sachs Group assumed coverage on Johnson & Johnson in a report on Thursday, May 30th. They issued a “neutral” rating and a $160.00 price target for the company. Bank of America cut their target price on Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 17th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $175.00 target price on shares of Johnson & Johnson in a research report on Monday, June 17th. Finally, StockNews.com lowered Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 22nd. Eight investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $174.07.

Johnson & Johnson Trading Down 0.3 %

NYSE:JNJ opened at $146.81 on Thursday. Johnson & Johnson has a 1 year low of $143.13 and a 1 year high of $175.97. The stock has a market cap of $353.32 billion, a price-to-earnings ratio of 9.15, a PEG ratio of 2.45 and a beta of 0.53. The business has a fifty day moving average of $148.13 and a 200-day moving average of $154.24. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.94 and a current ratio of 1.17.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings results on Tuesday, April 16th. The company reported $2.71 earnings per share (EPS) for the quarter, topping 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 company had revenue of $21.38 billion during the quarter, compared to analysts’ expectations of $21.39 billion. During the same quarter in the prior year, the business posted $2.68 earnings per share. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. Equities analysts predict that Johnson & Johnson will post 10.63 earnings per share 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 paid a $1.24 dividend. This is a boost from Johnson & Johnson’s previous quarterly dividend of $1.19. The ex-dividend date was Monday, May 20th. This represents a $4.96 annualized dividend and a dividend yield of 3.38%. Johnson & Johnson’s dividend payout ratio is presently 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.