Edge Wealth Management LLC Has $12.35 Million Position in Johnson & Johnson (NYSE:JNJ)

Edge Wealth Management LLC lessened its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 0.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 78,050 shares of the company’s stock after selling 651 shares during the period. Johnson & Johnson accounts for 2.6% of Edge Wealth Management LLC’s holdings, making the stock its 17th biggest holding. Edge Wealth Management LLC’s holdings in Johnson & Johnson were worth $12,347,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in JNJ. Norges Bank bought a new stake in Johnson & Johnson during the 4th quarter valued at $4,071,642,000. Wellington Management Group LLP lifted its position 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 buying an additional 3,391,657 shares during the last quarter. International Assets Investment Management LLC boosted its position 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 purchasing an additional 2,064,175 shares during the period. Janney Montgomery Scott LLC purchased a new position in Johnson & Johnson in the 4th quarter valued at approximately $193,050,000. Finally, Global Assets Advisory LLC purchased a new position in shares of Johnson & Johnson during the first quarter worth about $170,372,000. Institutional investors own 69.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on JNJ. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $215.00 target price on shares of Johnson & Johnson in a research note on Thursday, June 20th. Morgan Stanley lowered their price target on Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 17th. HSBC raised shares of Johnson & Johnson from a “hold” rating to a “buy” rating and raised their target price for the stock from $169.00 to $170.00 in a research report on Thursday, April 18th. Bank of America reduced their price target on Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 17th. Finally, StockNews.com lowered shares of Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 22nd. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $174.07.

Johnson & Johnson Stock Up 0.3 %

Shares of Johnson & Johnson stock traded up $0.40 during trading on Friday, reaching $146.20. The company’s stock had a trading volume of 392,389 shares, compared to its average volume of 7,338,384. Johnson & Johnson has a 1-year low of $143.13 and a 1-year 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. The company has a market cap of $351.86 billion, a price-to-earnings ratio of 9.09, a P/E/G ratio of 2.44 and a beta of 0.53. The company has a 50-day simple moving average of $148.17 and a two-hundred day simple moving average of $154.19.

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

Johnson & Johnson Increases Dividend

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

Johnson & Johnson Company 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.