LRI Investments LLC Grows Stock Holdings in Johnson & Johnson (NYSE:JNJ)

LRI Investments LLC grew its holdings in Johnson & Johnson (NYSE:JNJ) by 11.8% during the first quarter, HoldingsChannel.com reports. The fund owned 14,260 shares of the company’s stock after purchasing an additional 1,507 shares during the quarter. LRI Investments LLC’s holdings in Johnson & Johnson were worth $2,365,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank purchased a new position in Johnson & Johnson in the 4th quarter worth approximately $4,390,037,000. GAMMA Investing LLC lifted its position in shares of Johnson & Johnson by 24,450.4% during the first quarter. GAMMA Investing LLC now owns 7,215,367 shares of the company’s stock worth $1,196,596,000 after purchasing an additional 7,185,977 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Johnson & Johnson by 26.4% in the first quarter. Bank of New York Mellon Corp now owns 23,182,464 shares of the company’s stock valued at $3,844,580,000 after purchasing an additional 4,842,582 shares during the period. Janus Henderson Group PLC grew its holdings in Johnson & Johnson by 134.5% during the 4th quarter. Janus Henderson Group PLC now owns 7,948,508 shares of the company’s stock valued at $1,149,536,000 after purchasing an additional 4,559,147 shares in the last quarter. Finally, Northern Trust Corp increased its stake in Johnson & Johnson by 12.3% during the 4th quarter. Northern Trust Corp now owns 30,813,175 shares of the company’s stock worth $4,456,201,000 after buying an additional 3,363,235 shares during the period. Institutional investors and hedge funds own 69.55% of the company’s stock.

Johnson & Johnson Stock Performance

Shares of JNJ stock opened at $156.87 on Monday. The company has a quick ratio of 1.03, a current ratio of 1.26 and a debt-to-equity ratio of 0.49. The business has a 50 day moving average of $153.75 and a two-hundred day moving average of $154.55. The company has a market cap of $377.44 billion, a P/E ratio of 17.45, a PEG ratio of 2.14 and a beta of 0.41. Johnson & Johnson has a 52 week low of $140.68 and a 52 week high of $169.99.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings results on Tuesday, April 15th. The company reported $2.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.59 by $0.18. The company had revenue of $21.89 billion during the quarter, compared to the consensus estimate of $21.65 billion. Johnson & Johnson had a net margin of 24.42% and a return on equity of 33.46%. As a group, analysts anticipate that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Tuesday, May 27th were issued a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 3.31%. This is a positive change from Johnson & Johnson’s previous quarterly dividend of $1.24. The ex-dividend date of this dividend was Tuesday, May 27th. Johnson & Johnson’s dividend payout ratio is 57.84%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Royal Bank Of Canada reissued an “outperform” rating and issued a $181.00 price objective on shares of Johnson & Johnson in a research report on Thursday, June 5th. Barclays lowered their price objective on Johnson & Johnson from $166.00 to $165.00 and set an “equal weight” rating for the company in a research note on Thursday, April 17th. Morgan Stanley restated an “underperform” rating on shares of Johnson & Johnson in a report on Thursday. Raymond James Financial reduced their target price on Johnson & Johnson from $165.00 to $162.00 and set an “outperform” rating for the company in a research note on Monday, April 14th. Finally, Benchmark upgraded shares of Johnson & Johnson to a “strong-buy” rating in a research note on Thursday, April 24th. Eleven analysts have rated the stock with a hold rating, seven have issued a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $171.00.

Johnson & Johnson Company Profile

Johnson & Johnson is a holding company, which engages in the research, development, manufacture, and sale of products in the healthcare field. It operates through the Innovative Medicine and MedTech segments. The Innovative Medicine segment focuses on immunology, infectious diseases, neuroscience, oncology, cardiovascular and metabolism, and pulmonary hypertension.