Salvus Wealth Management LLC Acquires 1,093 Shares of Johnson & Johnson (NYSE:JNJ)

Salvus Wealth Management LLC boosted its stake in Johnson & Johnson (NYSE:JNJ) by 17.4% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 7,391 shares of the company’s stock after buying an additional 1,093 shares during the period. Salvus Wealth Management LLC’s holdings in Johnson & Johnson were worth $1,226,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. WealthTrak Capital Management LLC bought a new position in shares of Johnson & Johnson in the fourth quarter valued at approximately $26,000. Mountain Hill Investment Partners Corp. acquired a new position in Johnson & Johnson in the fourth quarter worth $29,000. Bay Harbor Wealth Management LLC acquired a new stake in shares of Johnson & Johnson in the fourth quarter valued at $32,000. Conquis Financial LLC bought a new position in shares of Johnson & Johnson in the fourth quarter valued at about $33,000. Finally, Bernard Wealth Management Corp. bought a new stake in Johnson & Johnson during the 4th quarter worth about $36,000. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Johnson & Johnson Price Performance

Shares of NYSE:JNJ opened at $153.39 on Thursday. The stock’s 50 day moving average is $153.81 and its 200-day moving average is $153.67. Johnson & Johnson has a twelve month low of $140.68 and a twelve month high of $169.99. The company has a quick ratio of 0.86, a current ratio of 1.11 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $369.07 billion, a price-to-earnings ratio of 23.07, a PEG ratio of 2.56 and a beta of 0.42.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings data on Tuesday, April 15th. The company reported $2.77 EPS for the quarter, topping analysts’ consensus estimates of $2.59 by $0.18. Johnson & Johnson had a return on equity of 34.24% and a net margin of 18.20%. The firm had revenue of $21.89 billion during the quarter, compared to analyst estimates of $21.65 billion. Sell-side analysts forecast that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Tuesday, May 27th will be paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.39%. The ex-dividend date is Tuesday, May 27th. This is an increase from Johnson & Johnson’s previous quarterly dividend of $1.24. Johnson & Johnson’s payout ratio is presently 57.84%.

Analyst Ratings Changes

Several research analysts have recently issued reports on JNJ shares. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Johnson & Johnson in a research note on Wednesday, April 16th. Barclays decreased their price objective on Johnson & Johnson from $166.00 to $165.00 and set an “equal weight” rating for the company in a research note on Thursday, April 17th. Morgan Stanley boosted their price target on shares of Johnson & Johnson from $164.00 to $169.00 and gave the company an “equal weight” rating in a report on Wednesday, April 16th. Guggenheim reiterated a “neutral” rating on shares of Johnson & Johnson in a report on Wednesday, April 2nd. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $181.00 target price on shares of Johnson & Johnson in a research note on Wednesday, April 16th. Eleven equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $170.88.

Johnson & Johnson Profile

Johnson & Johnson is a holding company, which engages in the research, development, manufacture, and sale of products in the healthcare field. It operates through the Innovative Medicine and MedTech segments. The Innovative Medicine segment focuses on immunology, infectious diseases, neuroscience, oncology, cardiovascular and metabolism, and pulmonary hypertension.