Pullen Investment Management LLC Boosts Holdings in Johnson & Johnson (NYSE:JNJ)

Pullen Investment Management LLC raised its position in Johnson & Johnson (NYSE:JNJ) by 6.4% in the 1st quarter, Holdings Channel reports. The fund owned 6,815 shares of the company’s stock after acquiring an additional 408 shares during the period. Pullen Investment Management LLC’s holdings in Johnson & Johnson were worth $1,130,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in JNJ. Lantz Financial LLC lifted its holdings in shares of Johnson & Johnson by 3.3% in the 1st quarter. Lantz Financial LLC now owns 11,974 shares of the company’s stock valued at $1,986,000 after buying an additional 377 shares during the period. Sulzberger Capital Advisors Inc. acquired a new stake in Johnson & Johnson in the fourth quarter valued at $453,000. Horan Securities Inc. boosted its position in shares of Johnson & Johnson by 1.3% during the 4th quarter. Horan Securities Inc. now owns 7,178 shares of the company’s stock worth $1,038,000 after purchasing an additional 90 shares in the last quarter. Strategic Financial Concepts LLC grew its stake in shares of Johnson & Johnson by 57.9% during the 4th quarter. Strategic Financial Concepts LLC now owns 3,467 shares of the company’s stock worth $501,000 after purchasing an additional 1,271 shares during the period. Finally, State of Wyoming increased its holdings in shares of Johnson & Johnson by 205,580.0% in the 4th quarter. State of Wyoming now owns 10,284 shares of the company’s stock valued at $1,487,000 after purchasing an additional 10,279 shares in the last quarter. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on JNJ shares. Sanford C. Bernstein reissued a “market perform” rating on shares of Johnson & Johnson in a report on Wednesday, April 16th. Benchmark raised Johnson & Johnson to a “strong-buy” rating in a research note 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. Raymond James lowered 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. Finally, 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 research note on Thursday, April 17th. Eleven research analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Johnson & Johnson has a consensus rating of “Moderate Buy” and an average price target of $170.88.

Johnson & Johnson Stock Performance

Johnson & Johnson stock opened at $156.90 on Friday. The stock has a fifty day moving average price of $153.84 and a 200 day moving average price of $153.72. The company has a current ratio of 1.11, a quick ratio of 0.86 and a debt-to-equity ratio of 0.43. Johnson & Johnson has a 52 week low of $140.68 and a 52 week high of $169.99. The firm has a market capitalization of $377.52 billion, a P/E ratio of 23.59, a PEG ratio of 2.56 and a beta of 0.42.

Johnson & Johnson (NYSE:JNJ) last released its earnings results on Tuesday, April 15th. The company reported $2.77 earnings per share (EPS) 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 business had revenue of $21.89 billion for the quarter, compared to analysts’ expectations of $21.65 billion. Equities research analysts anticipate that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Increases Dividend

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

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.