Raymond James & Associates Increases Stock Position in Johnson & Johnson (NYSE:JNJ)

Raymond James & Associates grew its holdings in Johnson & Johnson (NYSE:JNJ) by 5.3% in the first quarter, Holdings Channel reports. The firm owned 6,384,341 shares of the company’s stock after buying an additional 322,634 shares during the quarter. Johnson & Johnson accounts for about 0.7% of Raymond James & Associates’ portfolio, making the stock its 21st biggest position. Raymond James & Associates’ holdings in Johnson & Johnson were worth $1,009,939,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of JNJ. Norges Bank bought a new stake in Johnson & Johnson in the 4th quarter worth about $4,071,642,000. Wellington Management Group LLP boosted 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 valued at $3,764,852,000 after acquiring an additional 3,391,657 shares during the last quarter. International Assets Investment Management LLC raised its holdings in shares of Johnson & Johnson by 7,875.8% during the fourth quarter. International Assets Investment Management LLC now owns 2,090,384 shares of the company’s stock valued at $327,647,000 after purchasing an additional 2,064,175 shares during the last quarter. Janney Montgomery Scott LLC bought a new position in Johnson & Johnson during the fourth quarter valued at approximately $193,050,000. Finally, Global Assets Advisory LLC purchased a new stake in Johnson & Johnson in the first quarter worth approximately $170,372,000. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Insider Buying and Selling

In other Johnson & Johnson news, major shareholder & Johnson Johnson sold 3,725 shares of the business’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $25.81, for a total value of $96,142.25. Following the sale, the insider now owns 4,099,575 shares in the company, valued at approximately $105,810,030.75. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Johnson & Johnson news, EVP Jennifer L. Taubert sold 59,397 shares of Johnson & Johnson stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $156.27, for a total value of $9,281,969.19. Following the sale, the executive vice president now owns 141,416 shares of the company’s stock, valued at approximately $22,099,078.32. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder & Johnson Johnson sold 3,725 shares of the stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $25.81, for a total value of $96,142.25. Following the transaction, the insider now owns 4,099,575 shares of the company’s stock, valued at $105,810,030.75. The disclosure for this sale can be found here. 0.16% of the stock is owned by company insiders.

Johnson & Johnson Price Performance

JNJ stock traded down $0.68 during trading on Friday, reaching $146.14. The company’s stock had a trading volume of 6,182,982 shares, compared to its average volume of 7,728,638. The company has a quick ratio of 0.91, a current ratio of 1.16 and a debt-to-equity ratio of 0.38. The company’s fifty day moving average is $155.26 and its 200-day moving average is $155.32. The company has a market capitalization of $352.17 billion, a P/E ratio of 9.11, a price-to-earnings-growth ratio of 2.42 and a beta of 0.53. Johnson & Johnson has a 1 year low of $143.13 and a 1 year high of $175.97.

Johnson & Johnson (NYSE:JNJ) last released its 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 36.43% and a net margin of 45.26%. The firm had revenue of $21.38 billion during the quarter, compared to analysts’ expectations of $21.39 billion. During the same quarter last year, the business posted $2.68 earnings per share. The firm’s revenue was up 2.3% on a year-over-year basis. On average, research analysts expect that Johnson & Johnson will post 10.65 earnings per share for the current fiscal year.

Johnson & Johnson Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 21st will be issued a $1.24 dividend. This represents a $4.96 annualized dividend and a dividend yield of 3.39%. The ex-dividend date of this dividend is Monday, May 20th. This is an increase from Johnson & Johnson’s previous quarterly dividend of $1.19. Johnson & Johnson’s payout ratio is 29.68%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on JNJ shares. Bank of America lowered their price target on Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating on the stock in a report on Wednesday, April 17th. Raymond James boosted their price target on Johnson & Johnson from $172.00 to $175.00 and gave the company an “outperform” rating in a research note on Wednesday, January 3rd. StockNews.com upgraded shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, February 6th. HSBC upgraded shares of Johnson & Johnson from a “hold” rating to a “buy” rating and boosted their target price for the company from $169.00 to $170.00 in a research report on Thursday, April 18th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $215.00 price target on shares of Johnson & Johnson in a research note on Monday, April 15th. Seven equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $175.86.

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.