SteelPeak Wealth LLC Increases Stake in Johnson & Johnson (NYSE:JNJ)

SteelPeak Wealth LLC grew its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 11.5% in the first quarter, HoldingsChannel reports. The fund owned 58,409 shares of the company’s stock after purchasing an additional 6,045 shares during the quarter. SteelPeak Wealth LLC’s holdings in Johnson & Johnson were worth $9,240,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the stock. Keener Financial Planning LLC bought a new stake in shares of Johnson & Johnson during the fourth quarter valued at approximately $40,000. WFA Asset Management Corp lifted its position in Johnson & Johnson by 61.4% in the fourth quarter. WFA Asset Management Corp now owns 255 shares of the company’s stock worth $40,000 after buying an additional 97 shares during the last quarter. Vermillion & White Wealth Management Group LLC bought a new stake in Johnson & Johnson in the fourth quarter worth about $44,000. Disciplined Equity Management Inc. bought a new position in Johnson & Johnson in the 4th quarter valued at $45,000. Finally, Grayhawk Investment Strategies Inc. lifted its position in shares of Johnson & Johnson by 528.6% during the fourth quarter. Grayhawk Investment Strategies Inc. now owns 308 shares of the company’s stock worth $48,000 after purchasing an additional 259 shares during the last quarter. 69.55% of the stock is owned by institutional investors.

Johnson & Johnson Price Performance

NYSE JNJ opened at $146.42 on Tuesday. The firm’s fifty day simple moving average is $148.14 and its two-hundred day simple moving average is $154.05. The firm has a market capitalization of $352.39 billion, a P/E ratio of 9.13, a P/E/G ratio of 2.43 and a beta of 0.52. The company has a current ratio of 1.17, a quick ratio of 0.94 and a debt-to-equity ratio of 0.36. Johnson & Johnson has a 12-month low of $143.13 and a 12-month high of $175.97.

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, 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 return on equity of 36.70% and a net margin of 45.26%. The company’s revenue was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.68 earnings per share. Analysts forecast that Johnson & Johnson will post 10.62 EPS for the current fiscal year.

Johnson & Johnson Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 4th. Shareholders of record on Tuesday, May 21st were paid a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a yield of 3.39%. The ex-dividend date of this dividend 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%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on JNJ. Bank of America decreased their price objective 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. Cantor Fitzgerald reissued an “overweight” rating and issued a $215.00 price objective on shares of Johnson & Johnson in a research note on Monday. Royal Bank of Canada reaffirmed an “outperform” rating and set a $175.00 target price on shares of Johnson & Johnson in a research report on Monday, June 17th. Morgan Stanley dropped their price target 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. Finally, HSBC upgraded Johnson & Johnson from a “hold” rating to a “buy” rating and lifted their price objective for the company from $169.00 to $170.00 in a report on Thursday, April 18th. Eight equities research 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 stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average 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.