Elevation Point Wealth Partners LLC Has $2.85 Million Position in Johnson & Johnson (NYSE:JNJ)

Elevation Point Wealth Partners LLC lowered its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 6.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,156 shares of the company’s stock after selling 1,216 shares during the period. Elevation Point Wealth Partners LLC’s holdings in Johnson & Johnson were worth $2,845,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Norges Bank acquired a new stake in shares of Johnson & Johnson in the 4th quarter valued at $4,390,037,000. Raymond James Financial Inc. acquired a new stake in shares of Johnson & Johnson in the 4th quarter valued at $1,339,878,000. GAMMA Investing LLC boosted its stake in shares of Johnson & Johnson by 24,450.4% in the 1st quarter. GAMMA Investing LLC now owns 7,215,367 shares of the company’s stock valued at $1,196,596,000 after purchasing an additional 7,185,977 shares in the last quarter. Janus Henderson Group PLC boosted its stake in shares of Johnson & Johnson by 134.5% in 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 boosted its stake in shares of Johnson & Johnson by 12.3% in the 4th quarter. Northern Trust Corp now owns 30,813,175 shares of the company’s stock valued at $4,456,201,000 after purchasing an additional 3,363,235 shares in the last quarter. Institutional investors and hedge funds own 69.55% of the company’s stock.

Johnson & Johnson Stock Performance

Shares of NYSE:JNJ opened at $156.90 on Friday. The stock has a market capitalization of $377.52 billion, a P/E ratio of 23.59, a P/E/G 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 company has a current ratio of 1.11, a quick ratio of 0.86 and a debt-to-equity ratio of 0.43. The business has a 50-day moving average price of $153.84 and a two-hundred day moving average price of $153.72.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings results on Tuesday, April 15th. The company reported $2.77 EPS for the quarter, beating analysts’ consensus estimates of $2.59 by $0.18. The company had revenue of $21.89 billion during 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%. Equities analysts predict that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Increases Dividend

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

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on JNJ. Benchmark raised Johnson & Johnson to a “strong-buy” rating in a report on Thursday, April 24th. Leerink Partnrs cut Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 13th. Barclays cut their price target on Johnson & Johnson from $166.00 to $165.00 and set an “equal weight” rating for the company in a report on Thursday, April 17th. The Goldman Sachs Group raised Johnson & Johnson from a “neutral” rating to a “buy” rating and lifted their price target for the company from $157.00 to $172.00 in a report on Wednesday, April 9th. Finally, Raymond James cut their price target on Johnson & Johnson from $165.00 to $162.00 and set an “outperform” rating for the company in a report on Monday, April 14th. 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 data from MarketBeat, Johnson & Johnson has a consensus rating of “Moderate Buy” and a consensus price target 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.