Aviance Capital Partners LLC Buys 14,663 Shares of Johnson & Johnson (NYSE:JNJ)

Aviance Capital Partners LLC grew its stake in shares of Johnson & Johnson (NYSE:JNJ) by 63.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 37,818 shares of the company’s stock after buying an additional 14,663 shares during the period. Johnson & Johnson accounts for approximately 0.9% of Aviance Capital Partners LLC’s portfolio, making the stock its 24th largest holding. Aviance Capital Partners LLC’s holdings in Johnson & Johnson were worth $5,982,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Keener Financial Planning LLC bought a new position in shares of Johnson & Johnson in the fourth quarter worth approximately $40,000. WFA Asset Management Corp increased its position in shares of Johnson & Johnson by 61.4% in the fourth quarter. WFA Asset Management Corp now owns 255 shares of the company’s stock worth $40,000 after purchasing an additional 97 shares during the last quarter. Vermillion & White Wealth Management Group LLC bought a new position in shares of Johnson & Johnson in the fourth quarter worth approximately $44,000. Disciplined Equity Management Inc. bought a new position in shares of Johnson & Johnson in the fourth quarter worth approximately $45,000. Finally, Grayhawk Investment Strategies Inc. increased its position in shares of Johnson & Johnson by 528.6% in the fourth quarter. Grayhawk Investment Strategies Inc. now owns 308 shares of the company’s stock worth $48,000 after purchasing an additional 259 shares during the last quarter. 69.55% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on JNJ shares. HSBC upgraded shares of Johnson & Johnson from a “hold” rating to a “buy” rating and upped their price objective 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 shares of 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 reduced their price target on shares of 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. The Goldman Sachs Group started coverage on shares of Johnson & Johnson in a research report on Thursday, May 30th. They set a “neutral” rating and a $160.00 price target on the stock. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $215.00 price target on shares of Johnson & Johnson in a research report on Monday. Eight equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $174.07.

Johnson & Johnson Stock Performance

NYSE:JNJ opened at $146.03 on Wednesday. The business has a 50 day moving average price of $148.09 and a 200-day moving average price of $153.97. Johnson & Johnson has a fifty-two week low of $143.13 and a fifty-two week high of $175.97. The firm has a market cap of $351.45 billion, a PE ratio of 9.10, a price-to-earnings-growth ratio of 2.43 and a beta of 0.52. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.94 and a current ratio of 1.17.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings results on Tuesday, April 16th. The company reported $2.71 EPS for the quarter, topping 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 company had revenue of $21.38 billion during the quarter, compared to analyst estimates of $21.39 billion. During the same quarter last year, the firm posted $2.68 earnings per share. The firm’s revenue was up 2.3% on a year-over-year basis. Equities research analysts predict that Johnson & Johnson will post 10.62 earnings per share for the current year.

Johnson & Johnson Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 4th. Investors of record on Tuesday, May 21st were paid a $1.24 dividend. 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 dividend on an annualized basis and a yield of 3.40%. Johnson & Johnson’s dividend payout ratio (DPR) 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.