Icon Wealth Advisors LLC Makes New $1.39 Million Investment in Johnson & Johnson (NYSE:JNJ)

Icon Wealth Advisors LLC bought a new position in shares of Johnson & Johnson (NYSE:JNJFree Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 8,882 shares of the company’s stock, valued at approximately $1,392,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Norges Bank bought a new stake in Johnson & Johnson during the fourth quarter worth $4,071,642,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Johnson & Johnson by 1.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 15,945,533 shares of the company’s stock worth $2,483,532,000 after buying an additional 241,799 shares in the last quarter. California Public Employees Retirement System increased its holdings in shares of Johnson & Johnson by 4.9% during the fourth quarter. California Public Employees Retirement System now owns 10,620,264 shares of the company’s stock worth $1,664,620,000 after buying an additional 498,647 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Johnson & Johnson by 10.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 10,169,190 shares of the company’s stock worth $1,593,908,000 after buying an additional 975,485 shares in the last quarter. Finally, Clearbridge Investments LLC increased its holdings in shares of Johnson & Johnson by 0.8% during the fourth quarter. Clearbridge Investments LLC now owns 6,285,184 shares of the company’s stock worth $985,140,000 after buying an additional 50,822 shares in the last quarter. 69.55% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on JNJ shares. StockNews.com downgraded shares of Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a report on Monday. The Goldman Sachs Group started coverage on Johnson & Johnson in a report on Thursday, May 30th. They issued a “neutral” rating and a $160.00 price objective for the company. Bank of America decreased their price objective on Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating for the company in a report on Wednesday, April 17th. Cantor Fitzgerald restated an “overweight” rating and issued a $215.00 price objective on shares of Johnson & Johnson in a report on Monday, May 6th. Finally, HSBC upgraded Johnson & Johnson from a “hold” rating to a “buy” rating and increased their price objective for the company from $169.00 to $170.00 in a report on Thursday, April 18th. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Johnson & Johnson presently has a consensus rating of “Hold” and an average target price of $174.07.

Read Our Latest Research Report on Johnson & Johnson

Johnson & Johnson Stock Down 0.9 %

Johnson & Johnson stock traded down $1.31 during midday trading on Tuesday, reaching $145.82. The stock had a trading volume of 746,152 shares, compared to its average volume of 7,377,364. Johnson & Johnson has a 12 month low of $143.13 and a 12 month high of $175.97. The company has a market capitalization of $350.94 billion, a P/E ratio of 9.18, a PEG ratio of 2.45 and a beta of 0.53. The company has a fifty day moving average price of $149.06 and a two-hundred day moving average price of $154.88. The company has a current ratio of 1.17, a quick ratio of 0.94 and a debt-to-equity ratio of 0.36.

Johnson & Johnson (NYSE:JNJGet Free Report) last issued its 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. 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 analyst estimates of $21.39 billion. During the same period in the previous year, the company posted $2.68 EPS. The firm’s revenue was up 2.3% compared to the same quarter last year. As a group, equities analysts expect that Johnson & Johnson will post 10.63 EPS for the current fiscal year.

Johnson & Johnson Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 4th. Shareholders of record on Tuesday, May 21st were paid a dividend of $1.24 per share. The ex-dividend date was Monday, May 20th. This represents a $4.96 dividend on an annualized basis and a yield of 3.40%. This is an increase from Johnson & Johnson’s previous quarterly dividend of $1.19. Johnson & Johnson’s payout ratio is 30.92%.

Johnson & Johnson 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.

See Also

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

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