Sovereign Financial Group Inc. Purchases 69 Shares of Johnson & Johnson (NYSE:JNJ)

Sovereign Financial Group Inc. grew its position in Johnson & Johnson (NYSE:JNJ) by 1.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,928 shares of the company’s stock after acquiring an additional 69 shares during the quarter. Sovereign Financial Group Inc.’s holdings in Johnson & Johnson were worth $651,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of JNJ. WealthTrak Capital Management LLC bought a new position in shares of Johnson & Johnson during the 4th quarter worth approximately $26,000. Mountain Hill Investment Partners Corp. bought a new position in shares of Johnson & Johnson during the 4th quarter worth approximately $29,000. Bay Harbor Wealth Management LLC bought a new position in shares of Johnson & Johnson during the 4th quarter worth approximately $32,000. Conquis Financial LLC bought a new position in shares of Johnson & Johnson during the 4th quarter worth approximately $33,000. Finally, Bernard Wealth Management Corp. bought a new position in shares of Johnson & Johnson during the 4th quarter worth approximately $36,000. Institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Stock Up 0.9%

Shares of Johnson & Johnson stock opened at $155.02 on Friday. The company has a quick ratio of 0.86, a current ratio of 1.11 and a debt-to-equity ratio of 0.43. Johnson & Johnson has a 12 month low of $140.68 and a 12 month high of $169.99. The business has a fifty day simple moving average of $153.59 and a 200 day simple moving average of $153.68. The stock has a market cap of $372.99 billion, a PE ratio of 23.31, a price-to-earnings-growth ratio of 2.56 and a beta of 0.42.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings data on Tuesday, April 15th. The company reported $2.77 EPS for the quarter, topping analysts’ consensus estimates of $2.59 by $0.18. Johnson & Johnson had a return on equity of 34.24% and a net margin of 18.20%. The business had revenue of $21.89 billion during the quarter, compared to analysts’ expectations of $21.65 billion. Research analysts predict that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Tuesday, May 27th will be paid a dividend of $1.30 per share. The ex-dividend date of this dividend is 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 3.35%. Johnson & Johnson’s payout ratio is 57.84%.

Wall Street Analysts Forecast Growth

JNJ has been the subject of several research analyst reports. Leerink Partnrs downgraded Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 13th. Raymond James cut their price objective on Johnson & Johnson from $165.00 to $162.00 and set an “outperform” rating for the company in a research report on Monday, April 14th. Wall Street Zen downgraded Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 22nd. The Goldman Sachs Group upgraded Johnson & Johnson from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $157.00 to $172.00 in a research report on Wednesday, April 9th. Finally, Barclays cut their price objective on Johnson & Johnson from $166.00 to $165.00 and set an “equal weight” rating for the company in a research report on Thursday, April 17th. Eleven research analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Johnson & Johnson currently has a consensus rating of “Moderate Buy” and a consensus price target of $170.88.

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.