Carret Asset Management LLC Has $13.42 Million Stake in Johnson & Johnson (NYSE:JNJ)

Carret Asset Management LLC decreased its position in Johnson & Johnson (NYSE:JNJ) by 2.8% during the 1st quarter, Holdings Channel.com reports. The fund owned 84,857 shares of the company’s stock after selling 2,412 shares during the quarter. Johnson & Johnson comprises 1.6% of Carret Asset Management LLC’s investment portfolio, making the stock its 9th largest holding. Carret Asset Management LLC’s holdings in Johnson & Johnson were worth $13,424,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Johnson & Johnson in the 4th quarter valued at $4,071,642,000. Wellington Management Group LLP lifted its stake in Johnson & Johnson by 16.4% in the fourth quarter. Wellington Management Group LLP now owns 24,019,725 shares of the company’s stock valued at $3,764,852,000 after buying an additional 3,391,657 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Johnson & Johnson by 1.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 15,945,533 shares of the company’s stock worth $2,483,532,000 after buying an additional 241,799 shares during the last quarter. California Public Employees Retirement System grew its position in shares of Johnson & Johnson by 4.9% during 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 buying an additional 498,647 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in shares of Johnson & Johnson by 10.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 10,169,190 shares of the company’s stock valued at $1,593,908,000 after acquiring an additional 975,485 shares during the period. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Johnson & Johnson Price Performance

Shares of NYSE:JNJ opened at $145.69 on Friday. The company’s fifty day moving average price is $147.96 and its 200-day moving average price is $153.85. Johnson & Johnson has a one year low of $143.13 and a one year high of $175.97. 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 has a market capitalization of $350.63 billion, a price-to-earnings ratio of 9.08, a PEG ratio of 2.43 and a beta of 0.52.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings results on Tuesday, April 16th. The company reported $2.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.64 by $0.07. The business had revenue of $21.38 billion during 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 company’s revenue was up 2.3% on a year-over-year basis. During the same period in the prior year, the business posted $2.68 earnings per share. On average, equities research analysts anticipate that Johnson & Johnson will post 10.62 earnings per share for the current fiscal year.

Johnson & Johnson Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 4th. Shareholders of record on Tuesday, May 21st were given a $1.24 dividend. 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 dividend on an annualized basis and a dividend yield of 3.40%. Johnson & Johnson’s payout ratio is presently 30.92%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. The Goldman Sachs Group started coverage on shares of Johnson & Johnson in a report on Thursday, May 30th. They issued a “neutral” rating and a $160.00 price target for the company. StockNews.com upgraded Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Sunday, June 30th. Bank of America cut their price target on shares of Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 17th. Royal Bank of Canada restated an “outperform” rating and set a $175.00 target price on shares of Johnson & Johnson in a report on Monday, June 17th. Finally, HSBC upgraded Johnson & Johnson from a “hold” rating to a “buy” rating and raised their price target for the company from $169.00 to $170.00 in a research note on Thursday, April 18th. Eight equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $174.07.

Johnson & Johnson 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.