Johnson & Johnson (NYSE:JNJ) Shares Purchased by Oak Asset Management LLC

Oak Asset Management LLC boosted its stake in Johnson & Johnson (NYSE:JNJ) by 0.8% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 26,385 shares of the company’s stock after purchasing an additional 220 shares during the period. Johnson & Johnson comprises approximately 1.6% of Oak Asset Management LLC’s portfolio, making the stock its 18th largest position. Oak Asset Management LLC’s holdings in Johnson & Johnson were worth $4,376,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. WealthTrak Capital Management LLC acquired a new position in Johnson & Johnson in the 4th quarter valued at about $26,000. Mountain Hill Investment Partners Corp. purchased a new stake in Johnson & Johnson during the 4th quarter worth approximately $29,000. Bay Harbor Wealth Management LLC acquired a new stake in Johnson & Johnson during the 4th quarter worth approximately $32,000. Conquis Financial LLC acquired a new position in shares of Johnson & Johnson in the fourth quarter worth $33,000. Finally, Bernard Wealth Management Corp. purchased a new stake in shares of Johnson & Johnson during the fourth quarter worth $36,000. Institutional investors and hedge funds own 69.55% of the company’s stock.

Johnson & Johnson Stock Performance

NYSE JNJ opened at $153.39 on Thursday. The firm has a market cap of $369.07 billion, a P/E ratio of 23.07, a P/E/G ratio of 2.56 and a beta of 0.42. Johnson & Johnson has a 52-week low of $140.68 and a 52-week high of $169.99. The business’s 50-day moving average price is $153.81 and its 200 day moving average price is $153.67. The company has a quick ratio of 0.86, a current ratio of 1.11 and a debt-to-equity ratio of 0.43.

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

Johnson & Johnson Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Tuesday, May 27th will be issued a $1.30 dividend. The ex-dividend date is Tuesday, May 27th. This represents a $5.20 dividend on an annualized basis and a yield of 3.39%. This is an increase from Johnson & Johnson’s previous quarterly dividend of $1.24. Johnson & Johnson’s dividend payout ratio is currently 57.84%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Wall Street Zen downgraded Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 22nd. Benchmark upgraded shares of Johnson & Johnson to a “strong-buy” rating in a research note on Thursday, April 24th. Morgan Stanley increased their price objective on shares of Johnson & Johnson from $164.00 to $169.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 16th. Guggenheim reaffirmed a “neutral” rating on shares of Johnson & Johnson in a research report on Wednesday, April 2nd. Finally, Raymond James dropped their target price on Johnson & Johnson from $165.00 to $162.00 and set an “outperform” rating on the stock in a report on Monday, April 14th. Eleven research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Johnson & Johnson presently has a consensus rating of “Moderate Buy” and an average price target of $170.88.

About Johnson & Johnson

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.