Meridian Wealth Management LLC Has $7.20 Million Stock Position in Johnson & Johnson (NYSE:JNJ)

Meridian Wealth Management LLC raised its position in Johnson & Johnson (NYSE:JNJ) by 1.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 43,399 shares of the company’s stock after acquiring an additional 658 shares during the period. Meridian Wealth Management LLC’s holdings in Johnson & Johnson were worth $7,197,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Highline Wealth Partners LLC raised its holdings in shares of Johnson & Johnson by 51.8% in the 1st quarter. Highline Wealth Partners LLC now owns 252 shares of the company’s stock worth $42,000 after buying an additional 86 shares in the last quarter. von Borstel & Associates Inc. acquired a new position in shares of Johnson & Johnson in the 1st quarter worth approximately $49,000. Capital A Wealth Management LLC acquired a new position in shares of Johnson & Johnson in the 4th quarter worth approximately $50,000. Harvest Fund Management Co. Ltd acquired a new position in shares of Johnson & Johnson in the 1st quarter worth approximately $52,000. Finally, Accredited Wealth Management LLC acquired a new position in shares of Johnson & Johnson in the 4th quarter worth approximately $58,000. Institutional investors and hedge funds own 69.55% of the company’s stock.

Johnson & Johnson Stock Up 1.1%

Shares of JNJ opened at $173.40 on Monday. The firm has a market capitalization of $417.61 billion, a price-to-earnings ratio of 18.55, a PEG ratio of 2.21 and a beta of 0.41. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.76 and a current ratio of 1.01. The business’s fifty day moving average price is $159.26 and its two-hundred day moving average price is $157.60. Johnson & Johnson has a 52 week low of $140.68 and a 52 week high of $173.96.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings data on Wednesday, July 16th. The company reported $2.77 EPS for the quarter, beating analysts’ consensus estimates of $2.68 by $0.09. The firm had revenue of $23.74 billion for the quarter, compared to analyst estimates of $22.85 billion. Johnson & Johnson had a return on equity of 32.49% and a net margin of 25.00%. The business’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period last year, the company earned $2.82 EPS. On average, analysts predict that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 9th. Stockholders of record on Tuesday, August 26th will be given a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 3.0%. The ex-dividend date is Tuesday, August 26th. Johnson & Johnson’s dividend payout ratio (DPR) is currently 55.61%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on JNJ shares. Sanford C. Bernstein restated a “market perform” rating on shares of Johnson & Johnson in a research report on Wednesday, April 16th. UBS Group increased their price target on Johnson & Johnson from $180.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, July 17th. Morgan Stanley increased their price target on Johnson & Johnson from $171.00 to $176.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 17th. Barclays increased their price target on Johnson & Johnson from $165.00 to $176.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 17th. Finally, Leerink Partnrs lowered Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 13th. Nine research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Johnson & Johnson currently has a consensus rating of “Moderate Buy” and a consensus price target of $174.50.

Johnson & Johnson 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.