Drexel Morgan & Co. Has $34.21 Million Stake in Johnson & Johnson (NYSE:JNJ)

Drexel Morgan & Co. grew its holdings in Johnson & Johnson (NYSE:JNJ) by 0.1% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 216,257 shares of the company’s stock after acquiring an additional 160 shares during the quarter. Johnson & Johnson accounts for approximately 7.0% of Drexel Morgan & Co.’s investment portfolio, making the stock its 4th biggest position. Drexel Morgan & Co.’s holdings in Johnson & Johnson were worth $34,210,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new position in Johnson & Johnson in the fourth quarter valued at about $4,071,642,000. Wellington Management Group LLP raised its stake in Johnson & Johnson by 16.4% during the fourth quarter. Wellington Management Group LLP now owns 24,019,725 shares of the company’s stock worth $3,764,852,000 after acquiring an additional 3,391,657 shares in the last quarter. International Assets Investment Management LLC raised its stake in Johnson & Johnson by 7,875.8% during the fourth quarter. International Assets Investment Management LLC now owns 2,090,384 shares of the company’s stock worth $327,647,000 after acquiring an additional 2,064,175 shares in the last quarter. Janney Montgomery Scott LLC acquired a new position in Johnson & Johnson during the fourth quarter worth about $193,050,000. Finally, Focused Investors Fund L P acquired a new position in Johnson & Johnson during the first quarter worth about $193,996,000. Institutional investors own 69.55% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on JNJ shares. HSBC upgraded Johnson & Johnson from a “hold” rating to a “buy” rating and upped their target price for the company from $169.00 to $170.00 in a report on Thursday, April 18th. StockNews.com upgraded Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Sunday, June 30th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $215.00 target price on shares of Johnson & Johnson in a report on Monday. Morgan Stanley reduced their target price 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. Finally, Royal Bank of Canada restated an “outperform” rating and set a $175.00 price target on shares of Johnson & Johnson in a report on Monday, June 17th. Eight research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $174.07.

Johnson & Johnson Stock Up 0.5 %

NYSE JNJ traded up $0.79 on Friday, reaching $146.48. The company had a trading volume of 4,806,160 shares, compared to its average volume of 7,333,996. The stock has a market capitalization of $352.53 billion, a P/E ratio of 9.03, a P/E/G ratio of 2.42 and a beta of 0.52. The company’s fifty day moving average is $147.94 and its 200 day moving average is $153.79. Johnson & Johnson has a 52-week low of $143.13 and a 52-week high of $175.97. The company has a quick ratio of 0.94, a current ratio of 1.17 and a debt-to-equity ratio of 0.36.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings results on Tuesday, April 16th. The company reported $2.71 EPS for the quarter, beating analysts’ consensus estimates of $2.64 by $0.07. The business had revenue of $21.38 billion during the quarter, compared to analyst estimates of $21.39 billion. Johnson & Johnson had a return on equity of 36.70% and a net margin of 45.26%. Johnson & Johnson’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.68 EPS. Sell-side analysts anticipate that Johnson & Johnson will post 10.62 earnings per share for the current fiscal year.

Johnson & Johnson Increases Dividend

The firm 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. The ex-dividend date was Monday, May 20th. This is a positive change from Johnson & Johnson’s previous quarterly dividend of $1.19. This represents a $4.96 annualized dividend and a dividend yield of 3.39%. Johnson & Johnson’s dividend payout ratio (DPR) is currently 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.