Stonebridge Capital Management Inc. Boosts Position in Johnson & Johnson (NYSE:JNJ)

Stonebridge Capital Management Inc. boosted its position in Johnson & Johnson (NYSE:JNJ) by 0.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 41,284 shares of the company’s stock after acquiring an additional 175 shares during the period. Johnson & Johnson accounts for 2.9% of Stonebridge Capital Management Inc.’s portfolio, making the stock its 10th largest position. Stonebridge Capital Management Inc.’s holdings in Johnson & Johnson were worth $6,531,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the company. Norges Bank bought a new position in Johnson & Johnson during the fourth quarter worth about $4,071,642,000. Wellington Management Group LLP lifted its holdings in shares of Johnson & Johnson by 16.4% during the 4th quarter. Wellington Management Group LLP now owns 24,019,725 shares of the company’s stock valued at $3,764,852,000 after purchasing an additional 3,391,657 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Johnson & Johnson by 1.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 15,945,533 shares of the company’s stock valued at $2,483,532,000 after purchasing an additional 241,799 shares in the last quarter. California Public Employees Retirement System lifted its holdings in shares of Johnson & Johnson by 4.9% during the 4th quarter. California Public Employees Retirement System now owns 10,620,264 shares of the company’s stock valued at $1,664,620,000 after purchasing an additional 498,647 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Johnson & Johnson by 10.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 10,169,190 shares of the company’s stock valued at $1,593,908,000 after purchasing an additional 975,485 shares in the last quarter. Institutional investors own 69.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on JNJ shares. Morgan Stanley cut their price objective on Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 17th. The Goldman Sachs Group started coverage on Johnson & Johnson in a research report on Thursday, May 30th. They issued a “neutral” rating and a $160.00 target price on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $175.00 target price on shares of Johnson & Johnson in a research report on Monday, June 17th. Bank of America dropped their target price on Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 17th. Finally, HSBC raised Johnson & Johnson from a “hold” rating to a “buy” rating and lifted their target price for the company from $169.00 to $170.00 in a research report on Thursday, April 18th. Eight analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $174.07.

Johnson & Johnson Stock Performance

JNJ traded down $0.62 during trading on Thursday, hitting $146.20. The stock had a trading volume of 1,031,975 shares, compared to its average volume of 7,356,585. The company has a 50 day moving average price of $148.13 and a 200-day moving average price of $154.24. The firm has a market cap of $351.86 billion, a price-to-earnings ratio of 9.14, a P/E/G ratio of 2.45 and a beta of 0.53. Johnson & Johnson has a one year low of $143.13 and a one year high of $175.97. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.17 and a quick ratio of 0.94.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings results on Tuesday, April 16th. The company reported $2.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.64 by $0.07. The business had revenue of $21.38 billion during the quarter, compared to the consensus estimate of $21.39 billion. Johnson & Johnson had a return on equity of 36.70% and a net margin of 45.26%. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period in the previous year, the company posted $2.68 EPS. As a group, research analysts predict that Johnson & Johnson will post 10.63 EPS for the current year.

Johnson & Johnson Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 21st were given a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.39%. This is an increase from Johnson & Johnson’s previous quarterly dividend of $1.19. The ex-dividend date was Monday, May 20th. Johnson & Johnson’s dividend payout ratio is presently 30.92%.

Johnson & Johnson Profile

Johnson & Johnson, together with its subsidiaries, researches, develops, manufactures, and sells various products in the healthcare field worldwide. The company's Innovative Medicine segment offers products for various therapeutic areas, such as immunology, including rheumatoid arthritis, psoriatic arthritis, inflammatory bowel disease, and psoriasis; infectious diseases comprising HIV/AIDS; neuroscience, consisting of mood disorders, neurodegenerative disorders, and schizophrenia; oncology, such as prostate cancer, hematologic malignancies, lung cancer, and bladder cancer; cardiovascular and metabolism, including thrombosis, diabetes, and macular degeneration; and pulmonary hypertension comprising pulmonary arterial hypertension through retailers, wholesalers, distributors, hospitals, and healthcare professionals for prescription use.