Daymark Wealth Partners LLC Has $32.74 Million Position in Johnson & Johnson (NYSE:JNJ)

Daymark Wealth Partners LLC lessened its stake in shares of Johnson & Johnson (NYSE:JNJ) by 36.3% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 197,431 shares of the company’s stock after selling 112,601 shares during the period. Johnson & Johnson accounts for about 1.4% of Daymark Wealth Partners LLC’s portfolio, making the stock its 11th largest position. Daymark Wealth Partners LLC’s holdings in Johnson & Johnson were worth $32,742,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of JNJ. Norges Bank acquired a new position in shares of Johnson & Johnson during the 4th quarter valued at $4,390,037,000. Raymond James Financial Inc. acquired a new position in shares of Johnson & Johnson during the 4th quarter valued at $1,339,878,000. GAMMA Investing LLC increased its stake in Johnson & Johnson by 24,450.4% during 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 increased its stake in Johnson & Johnson by 134.5% during 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 increased its stake in Johnson & Johnson by 12.3% during 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.

Analyst Upgrades and Downgrades

JNJ has been the subject of a number of recent research reports. Wall Street Zen upgraded shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 21st. Barclays decreased their price target on shares of 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. Leerink Partners lowered shares of Johnson & Johnson from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $169.00 to $153.00 in a research note on Tuesday, May 13th. Guggenheim restated a “neutral” rating on shares of Johnson & Johnson in a research note on Wednesday, April 2nd. Finally, Benchmark upgraded shares of Johnson & Johnson to a “strong-buy” rating in a research note on Thursday, April 24th. Eleven analysts have rated the stock with a hold rating, seven have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $170.88.

Johnson & Johnson Price Performance

JNJ opened at $152.25 on Friday. The firm has a market cap of $366.33 billion, a P/E ratio of 16.94, a PEG ratio of 2.31 and a beta of 0.42. The firm has a 50-day moving average of $153.85 and a 200 day moving average of $153.69. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.03 and a current ratio of 1.26. Johnson & Johnson has a fifty-two week low of $140.68 and a fifty-two week high of $169.99.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings results on Tuesday, April 15th. The company reported $2.77 earnings per share for the quarter, beating the consensus estimate of $2.59 by $0.18. The company had revenue of $21.89 billion during the quarter, compared to analyst estimates of $21.65 billion. Johnson & Johnson had a net margin of 24.42% and a return on equity of 33.46%. On average, research analysts expect that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Tuesday, May 27th were given a dividend of $1.30 per share. The ex-dividend date was Tuesday, May 27th. This represents a $5.20 annualized dividend and a yield of 3.42%. This is a positive change from Johnson & Johnson’s previous quarterly dividend of $1.24. Johnson & Johnson’s dividend payout ratio is presently 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.