Zhang Financial LLC Has $2.92 Million Stock Position in Johnson & Johnson (NYSE:JNJ)

Zhang Financial LLC grew its stake in shares of Johnson & Johnson (NYSE:JNJ) by 42.1% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,590 shares of the company’s stock after purchasing an additional 5,210 shares during the quarter. Zhang Financial LLC’s holdings in Johnson & Johnson were worth $2,917,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Johnson & Johnson by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 232,792,559 shares of the company’s stock valued at $33,666,460,000 after buying an additional 1,772,706 shares in the last quarter. Geode Capital Management LLC grew its holdings in Johnson & Johnson by 2.8% in the 4th quarter. Geode Capital Management LLC now owns 57,667,920 shares of the company’s stock valued at $8,321,881,000 after buying an additional 1,561,036 shares in the last quarter. Northern Trust Corp grew its holdings in 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 buying an additional 3,363,235 shares in the last quarter. Norges Bank acquired a new position in Johnson & Johnson in the 4th quarter valued at $4,390,037,000. Finally, Wellington Management Group LLP grew its holdings in shares of Johnson & Johnson by 1.8% during the 4th quarter. Wellington Management Group LLP now owns 24,356,572 shares of the company’s stock worth $3,522,447,000 after purchasing an additional 431,205 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 analyst reports. Leerink Partners downgraded shares of Johnson & Johnson from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $169.00 to $153.00 in a report on Tuesday, May 13th. Wall Street Zen lowered Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 22nd. Benchmark raised Johnson & Johnson to a “strong-buy” rating in a research note on Thursday, April 24th. Raymond James reduced their price objective on Johnson & Johnson from $165.00 to $162.00 and set an “outperform” rating on the stock in a research note on Monday, April 14th. Finally, Bank of America reduced their price objective on Johnson & Johnson from $171.00 to $159.00 and set a “neutral” rating on the stock in a research note on Thursday, April 10th. Eleven investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $170.88.

Johnson & Johnson Stock Performance

NYSE:JNJ opened at $155.19 on Thursday. The company has a market capitalization of $373.41 billion, a PE ratio of 23.34, a P/E/G ratio of 2.56 and a beta of 0.42. The company has a 50 day simple moving average of $153.56 and a two-hundred day simple moving average of $153.70. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.86 and a current ratio of 1.11. 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 released its earnings results on Tuesday, April 15th. The company reported $2.77 earnings per share for the quarter, beating analysts’ consensus estimates of $2.59 by $0.18. The business had revenue of $21.89 billion during the quarter, compared to the consensus estimate of $21.65 billion. Johnson & Johnson had a net margin of 18.20% and a return on equity of 34.24%. 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. Shareholders of record on Tuesday, May 27th were given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 3.35%. The ex-dividend date of this dividend was Tuesday, May 27th. This is an increase from Johnson & Johnson’s previous quarterly dividend of $1.24. Johnson & Johnson’s dividend payout ratio is currently 57.84%.

Johnson & Johnson Company 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.