Waterway Wealth Management LLC Invests $822,000 in Johnson & Johnson (NYSE:JNJ)

Waterway Wealth Management LLC bought a new stake in Johnson & Johnson (NYSE:JNJ) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 5,196 shares of the company’s stock, valued at approximately $822,000. Johnson & Johnson makes up approximately 0.4% of Waterway Wealth Management LLC’s holdings, making the stock its 19th biggest position.

Several other hedge funds also recently bought and sold shares of JNJ. Pathway Financial Advisors LLC boosted its position in Johnson & Johnson by 4.3% during the fourth quarter. Pathway Financial Advisors LLC now owns 5,438 shares of the company’s stock worth $852,000 after acquiring an additional 226 shares during the last quarter. Daiwa Securities Group Inc. boosted its holdings in shares of Johnson & Johnson by 5.5% during the fourth quarter. Daiwa Securities Group Inc. now owns 297,850 shares of the company’s stock worth $46,685,000 after purchasing an additional 15,490 shares during the last quarter. OneAscent Financial Services LLC grew its position in shares of Johnson & Johnson by 82.8% in the fourth quarter. OneAscent Financial Services LLC now owns 9,838 shares of the company’s stock valued at $1,542,000 after purchasing an additional 4,457 shares during the period. Vestmark Advisory Solutions Inc. increased its stake 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 last quarter. Finally, TrueMark Investments LLC purchased a new position in Johnson & Johnson during the fourth quarter worth about $1,458,000. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on JNJ. StockNews.com raised shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Sunday. Morgan Stanley decreased their price target on shares of Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 17th. 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 restated an “outperform” rating and set a $175.00 price target on shares of Johnson & Johnson in a research note on Monday, June 17th. Finally, The Goldman Sachs Group assumed coverage on Johnson & Johnson in a research note on Thursday, May 30th. They issued a “neutral” rating and a $160.00 price objective on the stock. 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 stock. According to MarketBeat.com, Johnson & Johnson currently has a consensus rating of “Moderate Buy” and a consensus price target of $174.07.

Johnson & Johnson Stock Performance

Johnson & Johnson stock opened at $146.42 on Tuesday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.17 and a quick ratio of 0.94. The firm’s fifty day moving average price is $148.14 and its 200 day moving average price is $154.05. The company has a market capitalization of $352.39 billion, a price-to-earnings ratio of 9.13, a price-to-earnings-growth ratio of 2.43 and a beta of 0.52. Johnson & Johnson has a 12-month low of $143.13 and a 12-month high of $175.97.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings results on Tuesday, April 16th. The company reported $2.71 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 business had revenue of $21.38 billion for the quarter, compared to analysts’ expectations of $21.39 billion. During the same quarter in the previous year, the firm posted $2.68 earnings per share. The company’s revenue was up 2.3% compared to the same quarter last year. On average, research analysts forecast that Johnson & Johnson will post 10.62 EPS for the current fiscal year.

Johnson & Johnson Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 4th. Investors of record on Tuesday, May 21st were issued a $1.24 dividend. The ex-dividend date was Monday, May 20th. This is a boost from Johnson & Johnson’s previous quarterly dividend of $1.19. This represents a $4.96 annualized dividend and a yield of 3.39%. Johnson & Johnson’s dividend payout ratio 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.