Focus Financial Network Inc. Has $5.04 Million Position in Johnson & Johnson (NYSE:JNJ)

Focus Financial Network Inc. trimmed its position in shares of Johnson & Johnson (NYSE:JNJ) by 3.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 30,416 shares of the company’s stock after selling 1,172 shares during the quarter. Focus Financial Network Inc.’s holdings in Johnson & Johnson were worth $5,044,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. WealthTrak Capital Management LLC purchased a new stake in Johnson & Johnson in the 4th quarter valued at about $26,000. Mountain Hill Investment Partners Corp. purchased a new position in Johnson & Johnson during the fourth quarter valued at approximately $29,000. Conquis Financial LLC purchased a new position in shares of Johnson & Johnson during the fourth quarter worth about $33,000. Bernard Wealth Management Corp. purchased a new stake in Johnson & Johnson during the fourth quarter valued at about $36,000. Finally, Runnymede Capital Advisors Inc. purchased a new position in shares of Johnson & Johnson during the fourth quarter worth approximately $38,000. 69.55% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on JNJ. Bank of America cut their price target on shares of Johnson & Johnson from $171.00 to $159.00 and set a “neutral” rating on the stock in a report on Thursday, April 10th. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Johnson & Johnson in a research report on Wednesday, April 16th. Barclays lowered their target price 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. Wall Street Zen cut shares of Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 22nd. Finally, The Goldman Sachs Group raised shares of Johnson & Johnson from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $157.00 to $172.00 in a research note on Wednesday, April 9th. Eleven equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Johnson & Johnson has an average rating of “Moderate Buy” and an average target price of $170.88.

Johnson & Johnson Stock Performance

Shares of JNJ stock opened at $155.19 on Thursday. Johnson & Johnson has a 52-week low of $140.68 and a 52-week high of $169.99. The company’s 50 day moving average is $153.56 and its 200 day moving average is $153.70. The firm has a market cap of $373.41 billion, a price-to-earnings ratio of 23.34, a PEG ratio of 2.56 and a beta of 0.42. The company has a quick ratio of 0.86, a current ratio of 1.11 and a debt-to-equity ratio of 0.43.

Johnson & Johnson (NYSE:JNJ) last announced its earnings results on Tuesday, April 15th. The company reported $2.77 earnings per share for the quarter, beating the consensus estimate of $2.59 by $0.18. Johnson & Johnson had a net margin of 18.20% and a return on equity of 34.24%. The company had revenue of $21.89 billion during the quarter, compared to the consensus estimate of $21.65 billion. On average, sell-side analysts anticipate that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Tuesday, May 27th were paid a dividend of $1.30 per share. This is an increase from Johnson & Johnson’s previous quarterly dividend of $1.24. This represents a $5.20 annualized dividend and a dividend yield of 3.35%. The ex-dividend date of this dividend was Tuesday, May 27th. Johnson & Johnson’s payout ratio is presently 57.84%.

Johnson & Johnson Company 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.