HighTower Advisors LLC Has $660.51 Million Position in Johnson & Johnson (NYSE:JNJ)

HighTower Advisors LLC increased its stake in shares of Johnson & Johnson (NYSE:JNJ) by 8.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,982,788 shares of the company’s stock after buying an additional 293,794 shares during the quarter. Johnson & Johnson comprises approximately 0.9% of HighTower Advisors LLC’s investment portfolio, making the stock its 11th biggest position. HighTower Advisors LLC owned about 0.17% of Johnson & Johnson worth $660,506,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in shares of Johnson & Johnson by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 233,962,679 shares of the company’s stock valued at $38,800,371,000 after purchasing an additional 1,170,120 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of 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 acquiring an additional 3,363,235 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Johnson & Johnson by 26.4% during the 1st quarter. Bank of New York Mellon Corp now owns 23,182,464 shares of the company’s stock valued at $3,844,580,000 after acquiring an additional 4,842,582 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Johnson & Johnson by 3.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 18,899,263 shares of the company’s stock valued at $3,133,602,000 after acquiring an additional 712,181 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in shares of Johnson & Johnson by 2.5% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 18,282,410 shares of the company’s stock valued at $3,031,955,000 after acquiring an additional 448,666 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 topic of several recent research reports. Morgan Stanley raised their price objective on Johnson & Johnson from $171.00 to $176.00 and gave the company an “equal weight” rating in a report on Thursday, July 17th. Raymond James Financial cut their price objective on Johnson & Johnson from $165.00 to $162.00 and set an “outperform” rating on the stock in a report on Monday, April 14th. Piper Sandler reissued an “overweight” rating on shares of Johnson & Johnson in a report on Thursday, July 17th. Guggenheim reissued a “neutral” rating and set a $167.00 price objective (up previously from $164.00) on shares of Johnson & Johnson in a report on Thursday, July 17th. Finally, Royal Bank Of Canada lifted their target price on Johnson & Johnson from $181.00 to $185.00 and gave the stock an “outperform” rating in a report on Thursday, July 17th. Nine research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Johnson & Johnson has a consensus rating of “Moderate Buy” and a consensus target price of $174.50.

Johnson & Johnson Stock Up 0.4%

Shares of NYSE:JNJ opened at $173.98 on Tuesday. The company has a market capitalization of $418.99 billion, a price-to-earnings ratio of 18.61, a P/E/G ratio of 2.21 and a beta of 0.41. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.01 and a quick ratio of 0.76. The business’s 50-day moving average is $159.63 and its 200-day moving average is $157.79. Johnson & Johnson has a 1 year low of $140.68 and a 1 year high of $174.60.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings data on Wednesday, July 16th. The company reported $2.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.68 by $0.09. The company had revenue of $23.74 billion for the quarter, compared to the consensus estimate of $22.85 billion. Johnson & Johnson had a return on equity of 32.49% and a net margin of 25.00%. The firm’s revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the business earned $2.82 EPS. Equities research analysts predict that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 9th. Stockholders of record on Tuesday, August 26th will be paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Tuesday, August 26th. Johnson & Johnson’s payout ratio is currently 55.61%.

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.