Pittenger & Anderson Inc. Boosts Stake in Johnson & Johnson (NYSE:JNJ)

Pittenger & Anderson Inc. lifted its holdings in Johnson & Johnson (NYSE:JNJFree Report) by 2.8% during the first quarter, Holdings Channel.com reports. The institutional investor owned 84,774 shares of the company’s stock after acquiring an additional 2,300 shares during the quarter. Pittenger & Anderson Inc.’s holdings in Johnson & Johnson were worth $13,410,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. 4J Wealth Management LLC boosted its stake in Johnson & Johnson by 2.2% during the fourth quarter. 4J Wealth Management LLC now owns 2,835 shares of the company’s stock valued at $444,000 after buying an additional 62 shares during the period. My Personal CFO LLC raised its holdings in shares of Johnson & Johnson by 1.4% in the 4th quarter. My Personal CFO LLC now owns 4,550 shares of the company’s stock valued at $713,000 after acquiring an additional 62 shares in the last quarter. Eagle Strategies LLC boosted its position in shares of Johnson & Johnson by 1.8% during the 4th quarter. Eagle Strategies LLC now owns 3,589 shares of the company’s stock valued at $563,000 after acquiring an additional 63 shares during the last quarter. Clearview Wealth Advisors LLC grew its holdings in shares of Johnson & Johnson by 1.5% during the fourth quarter. Clearview Wealth Advisors LLC now owns 4,373 shares of the company’s stock worth $685,000 after purchasing an additional 64 shares in the last quarter. Finally, Brookmont Capital Management increased its position in shares of Johnson & Johnson by 0.4% in the fourth quarter. Brookmont Capital Management now owns 14,852 shares of the company’s stock worth $2,328,000 after purchasing an additional 64 shares during the last quarter. 69.55% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $175.00 price target on shares of Johnson & Johnson in a research note on Monday, June 17th. HSBC raised Johnson & Johnson from a “hold” rating to a “buy” rating and lifted their price target for the stock from $169.00 to $170.00 in a research note on Thursday, April 18th. Morgan Stanley cut their target price on Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 17th. Cantor Fitzgerald restated an “overweight” rating and issued a $215.00 price objective on shares of Johnson & Johnson in a report on Monday, July 1st. Finally, The Goldman Sachs Group began coverage on shares of Johnson & Johnson in a research report on Thursday, May 30th. They issued a “neutral” rating and a $160.00 target price on the stock. Eight analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $174.07.

Read Our Latest Report on Johnson & Johnson

Johnson & Johnson Stock Performance

Shares of JNJ stock opened at $147.05 on Wednesday. The firm has a market capitalization of $353.90 billion, a price-to-earnings ratio of 9.17, a PEG ratio of 2.42 and a beta of 0.52. The stock has a fifty day moving average of $147.96 and a 200 day moving average of $153.59. Johnson & Johnson has a 52 week low of $143.13 and a 52 week high of $175.97. The company has a quick ratio of 0.94, a current ratio of 1.17 and a debt-to-equity ratio of 0.36.

Johnson & Johnson (NYSE:JNJGet Free Report) last posted its earnings results on Tuesday, April 16th. The company reported $2.71 EPS for the quarter, topping the consensus estimate of $2.64 by $0.07. The firm had revenue of $21.38 billion during the quarter, compared to analysts’ expectations of $21.39 billion. Johnson & Johnson had a net margin of 45.26% and a return on equity of 36.70%. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period last year, the company posted $2.68 EPS. As a group, research analysts expect that Johnson & Johnson will post 10.62 earnings per share for the current 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 issued a $1.24 dividend. This is an increase 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 yield of 3.37%. Johnson & Johnson’s dividend payout ratio is 30.92%.

About Johnson & Johnson

(Free Report)

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.

Featured Stories

Want to see what other hedge funds are holding JNJ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Johnson & Johnson (NYSE:JNJFree Report).

Institutional Ownership by Quarter for Johnson & Johnson (NYSE:JNJ)

Receive News & Ratings for Johnson & Johnson Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Johnson & Johnson and related companies with MarketBeat.com's FREE daily email newsletter.