Salem Investment Counselors Inc. Acquires 4,050 Shares of Johnson & Johnson (NYSE:JNJ)

Salem Investment Counselors Inc. increased its holdings in Johnson & Johnson (NYSE:JNJFree Report) by 2.3% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 178,529 shares of the company’s stock after purchasing an additional 4,050 shares during the period. Johnson & Johnson comprises about 0.9% of Salem Investment Counselors Inc.’s portfolio, making the stock its 22nd largest holding. Salem Investment Counselors Inc.’s holdings in Johnson & Johnson were worth $28,242,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Norges Bank purchased a new position in Johnson & Johnson in the fourth quarter worth about $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 in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Johnson & Johnson by 1.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 15,945,533 shares of the company’s stock worth $2,483,532,000 after purchasing an additional 241,799 shares in the last quarter. California Public Employees Retirement System lifted its holdings in Johnson & Johnson by 4.9% in the 4th quarter. California Public Employees Retirement System now owns 10,620,264 shares of the company’s stock worth $1,664,620,000 after purchasing an additional 498,647 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Johnson & Johnson by 10.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 10,169,190 shares of the company’s stock worth $1,593,908,000 after acquiring an additional 975,485 shares during the last quarter. 69.55% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

JNJ has been the topic of several research analyst reports. StockNews.com downgraded Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Bank of America reduced 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. 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. Royal Bank of Canada reaffirmed an “outperform” rating and set a $175.00 target price on shares of Johnson & Johnson in a report on Monday, June 17th. Finally, The Goldman Sachs Group initiated coverage on Johnson & Johnson in a report on Thursday, May 30th. They set a “neutral” rating and a $160.00 target price on the stock. Eight investment 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, Johnson & Johnson currently has a consensus rating of “Hold” and an average price target of $174.07.

View Our Latest Analysis on Johnson & Johnson

Johnson & Johnson Price Performance

NYSE:JNJ traded up $0.97 during trading hours on Friday, reaching $148.75. 15,176,869 shares of the company traded hands, compared to its average volume of 6,685,153. Johnson & Johnson has a 1-year low of $143.13 and a 1-year high of $175.97. The firm’s 50-day moving average is $148.05 and its 200-day moving average is $154.35. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.17 and a quick ratio of 0.94. The stock has a market cap of $357.99 billion, a P/E ratio of 9.27, a P/E/G ratio of 2.46 and a beta of 0.53.

Johnson & Johnson (NYSE:JNJGet Free Report) last posted its quarterly earnings data 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 return on equity of 36.70% and a net margin of 45.26%. The business had revenue of $21.38 billion for the quarter, compared to analysts’ expectations of $21.39 billion. During the same quarter last year, the firm earned $2.68 earnings per share. The business’s revenue was up 2.3% on a year-over-year basis. Equities research analysts expect that Johnson & Johnson will post 10.63 earnings per share for the current fiscal year.

Johnson & Johnson Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 4th. Shareholders of record on Tuesday, May 21st were given a $1.24 dividend. 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 yield of 3.33%. Johnson & Johnson’s dividend payout ratio (DPR) is 30.92%.

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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