91,421 Shares in Johnson & Johnson (NYSE:JNJ) Bought by BTC Capital Management Inc.

BTC Capital Management Inc. acquired a new stake in shares of Johnson & Johnson (NYSE:JNJ) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm acquired 91,421 shares of the company’s stock, valued at approximately $14,462,000. Johnson & Johnson makes up 1.3% of BTC Capital Management Inc.’s portfolio, making the stock its 15th largest position.

Several other institutional investors have also recently made changes to their positions in the company. Norges Bank bought a new position in shares of Johnson & Johnson in the fourth quarter valued at approximately $4,071,642,000. Wellington Management Group LLP increased 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 purchasing an additional 3,391,657 shares during the last quarter. International Assets Investment Management LLC raised its stake in shares of Johnson & Johnson by 7,875.8% during the 4th 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 shares of Johnson & Johnson in the 4th quarter worth about $193,050,000. Finally, abrdn plc grew its position in Johnson & Johnson by 104.1% during the fourth quarter. abrdn plc now owns 2,014,743 shares of the company’s stock valued at $315,791,000 after buying an additional 1,027,441 shares during the period. Institutional investors own 69.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on JNJ shares. The Goldman Sachs Group began coverage on shares of Johnson & Johnson in a research report on Thursday, May 30th. They issued a “neutral” rating and a $160.00 price objective on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $175.00 price objective on shares of Johnson & Johnson in a research note on Monday, June 17th. Cantor Fitzgerald reissued an “overweight” rating and issued a $215.00 target price on shares of Johnson & Johnson in a research report on Thursday. Morgan Stanley dropped their price target on Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 17th. Finally, 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. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $174.07.

Johnson & Johnson Price Performance

JNJ stock opened at $148.75 on Friday. The firm has a 50 day moving average of $148.05 and a 200-day moving average of $154.35. The firm has a market capitalization of $357.99 billion, a P/E ratio of 9.27, a price-to-earnings-growth ratio of 2.46 and a beta of 0.53. Johnson & Johnson has a 12 month low of $143.13 and a 12 month high of $175.97. 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:JNJ) last announced its quarterly earnings results on Tuesday, April 16th. The company reported $2.71 EPS for the quarter, beating the consensus estimate of $2.64 by $0.07. The firm had revenue of $21.38 billion during the quarter, compared to the consensus estimate of $21.39 billion. Johnson & Johnson had a net margin of 45.26% and a return on equity of 36.70%. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period last year, the firm earned $2.68 EPS. As a group, sell-side analysts predict that Johnson & Johnson will post 10.63 earnings per share for the current fiscal year.

Johnson & Johnson Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 21st were issued 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 of this dividend was Monday, May 20th. This represents a $4.96 annualized dividend and a dividend yield of 3.33%. Johnson & Johnson’s payout ratio is presently 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.