Smithbridge Asset Management Inc. DE Acquires Shares of 41,281 Johnson & Johnson (NYSE:JNJ)

Smithbridge Asset Management Inc. DE acquired a new stake in Johnson & Johnson (NYSE:JNJ) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 41,281 shares of the company’s stock, valued at approximately $6,846,000.

A number of other hedge funds have also recently added to or reduced their stakes in JNJ. WealthTrak Capital Management LLC purchased a new position in shares of Johnson & Johnson during the 4th quarter worth approximately $26,000. Mountain Hill Investment Partners Corp. purchased a new position in shares of Johnson & Johnson during the 4th quarter worth approximately $29,000. Conquis Financial LLC purchased a new position in shares of Johnson & Johnson during the 4th quarter worth approximately $33,000. Bernard Wealth Management Corp. purchased a new position in shares of Johnson & Johnson during the 4th quarter worth approximately $36,000. Finally, Runnymede Capital Advisors Inc. purchased a new position in Johnson & Johnson in the 4th quarter valued at approximately $38,000. Institutional investors and hedge funds own 69.55% of the company’s stock.

Johnson & Johnson Stock Performance

JNJ stock opened at $156.90 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.86 and a current ratio of 1.11. The stock has a market capitalization of $377.52 billion, a price-to-earnings ratio of 23.59, a PEG ratio of 2.56 and a beta of 0.42. Johnson & Johnson has a 1 year low of $140.68 and a 1 year high of $169.99. The stock’s fifty day moving average is $153.84 and its two-hundred day moving average is $153.72.

Johnson & Johnson (NYSE:JNJ) last posted its earnings results on Tuesday, April 15th. The company reported $2.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.59 by $0.18. The company had revenue of $21.89 billion for the quarter, compared to analysts’ expectations of $21.65 billion. Johnson & Johnson had a return on equity of 34.24% and a net margin of 18.20%. On average, research analysts predict that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Tuesday, May 27th were paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 3.31%. This is a boost from Johnson & Johnson’s previous quarterly dividend of $1.24. The ex-dividend date was Tuesday, May 27th. Johnson & Johnson’s dividend payout ratio (DPR) is presently 57.84%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Bank of America dropped their price objective on Johnson & Johnson from $171.00 to $159.00 and set a “neutral” rating for the company in a research note on Thursday, April 10th. Benchmark raised Johnson & Johnson to a “strong-buy” rating in a research report on Thursday, April 24th. Leerink Partners downgraded Johnson & Johnson from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $169.00 to $153.00 in a research report on Tuesday, May 13th. Barclays dropped their price target on Johnson & Johnson from $166.00 to $165.00 and set an “equal weight” rating for the company in a research report on Thursday, April 17th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $181.00 price target on shares of Johnson & Johnson in a research report on Thursday, June 5th. Eleven equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $170.88.

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.