Verity Asset Management Inc. Has $512,000 Stake in Johnson & Johnson (NYSE:JNJ)

Verity Asset Management Inc. boosted its position in shares of Johnson & Johnson (NYSE:JNJFree Report) by 2.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,268 shares of the company’s stock after purchasing an additional 65 shares during the period. Verity Asset Management Inc.’s holdings in Johnson & Johnson were worth $512,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Tower View Wealth Management LLC increased its stake in Johnson & Johnson by 183.3% in the 3rd quarter. Tower View Wealth Management LLC now owns 255 shares of the company’s stock valued at $40,000 after buying an additional 165 shares during the last quarter. Keener Financial Planning LLC bought a new stake in Johnson & Johnson during the fourth quarter worth about $40,000. WFA Asset Management Corp grew its stake in Johnson & Johnson by 61.4% in the fourth quarter. WFA Asset Management Corp now owns 255 shares of the company’s stock valued at $40,000 after purchasing an additional 97 shares in the last quarter. Disciplined Equity Management Inc. acquired a new position in shares of Johnson & Johnson during the 4th quarter worth approximately $45,000. Finally, Altshuler Shaham Ltd raised its stake in shares of Johnson & Johnson by 37.8% during the 3rd quarter. Altshuler Shaham Ltd now owns 317 shares of the company’s stock worth $49,000 after purchasing an additional 87 shares in the last quarter. Institutional investors and hedge funds own 69.55% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on JNJ shares. Morgan Stanley lowered their target price on shares of Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 17th. HSBC upgraded shares of Johnson & Johnson from a “hold” rating to a “buy” rating and raised their target price for the company from $169.00 to $170.00 in a research note on Thursday, April 18th. Cantor Fitzgerald restated an “overweight” rating and issued a $215.00 price objective on shares of Johnson & Johnson in a research note on Monday, May 6th. StockNews.com upgraded Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, February 6th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $175.00 price target on shares of Johnson & Johnson in a report on Thursday. Seven investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Johnson & Johnson has a consensus rating of “Moderate Buy” and an average target price of $175.86.

Get Our Latest Report on JNJ

Johnson & Johnson Stock Performance

Johnson & Johnson stock opened at $154.64 on Monday. The business has a 50 day moving average of $152.31 and a 200-day moving average of $155.11. The company has a market capitalization of $372.17 billion, a P/E ratio of 9.64, a P/E/G ratio of 2.55 and a beta of 0.55. Johnson & Johnson has a 1 year low of $143.13 and a 1 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:JNJGet Free Report) last released its quarterly earnings results on Tuesday, April 16th. The company reported $2.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.64 by $0.07. Johnson & Johnson had a net margin of 45.26% and a return on equity of 36.70%. The firm had revenue of $21.38 billion during the quarter, compared to analyst estimates of $21.39 billion. During the same quarter last year, the business earned $2.68 EPS. The company’s revenue was up 2.3% compared to the same quarter last year. On average, equities research analysts predict that Johnson & Johnson will post 10.64 earnings per share for the current year.

Johnson & Johnson Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Investors of record on Tuesday, May 21st will be given a dividend of $1.24 per share. This is a positive change from Johnson & Johnson’s previous quarterly dividend of $1.19. The ex-dividend date is Monday, May 20th. This represents a $4.96 annualized dividend and a dividend yield of 3.21%. Johnson & Johnson’s dividend payout ratio is presently 29.68%.

Johnson & Johnson Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Johnson & Johnson (NYSE:JNJ)

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