Bank Pictet & Cie Europe AG Raises Stake in Johnson & Johnson (NYSE:JNJ)

Bank Pictet & Cie Europe AG lifted its position in shares of Johnson & Johnson (NYSE:JNJ) by 6.4% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 9,807 shares of the company’s stock after purchasing an additional 589 shares during the quarter. Bank Pictet & Cie Europe AG’s holdings in Johnson & Johnson were worth $1,626,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the company. WealthTrak Capital Management LLC acquired a new position in Johnson & Johnson during the 4th quarter worth approximately $26,000. Mountain Hill Investment Partners Corp. acquired a new position in Johnson & Johnson during the 4th quarter worth approximately $29,000. Conquis Financial LLC acquired a new position in Johnson & Johnson during the 4th quarter worth approximately $33,000. Bernard Wealth Management Corp. acquired a new position in Johnson & Johnson during the 4th quarter worth approximately $36,000. Finally, Runnymede Capital Advisors Inc. acquired a new position in Johnson & Johnson during the 4th quarter worth approximately $38,000. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Analyst Ratings Changes

JNJ has been the topic of several recent research reports. Morgan Stanley boosted their price target on Johnson & Johnson from $164.00 to $169.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 16th. Raymond James reduced their price target on Johnson & Johnson from $165.00 to $162.00 and set an “outperform” rating on the stock in a research report on Monday, April 14th. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Johnson & Johnson in a research report on Wednesday, April 16th. Leerink Partners lowered Johnson & Johnson from an “outperform” rating to a “market perform” rating and cut their target price for the company from $169.00 to $153.00 in a research report on Tuesday, May 13th. Finally, Barclays cut their target price on Johnson & Johnson from $166.00 to $165.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 17th. Eleven equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $170.88.

Johnson & Johnson Stock Performance

JNJ stock opened at $156.90 on Monday. The company has a current ratio of 1.11, a quick ratio of 0.86 and a debt-to-equity ratio of 0.43. The firm has a market cap of $377.52 billion, a P/E ratio of 23.59, a P/E/G ratio of 2.56 and a beta of 0.42. Johnson & Johnson has a 12-month low of $140.68 and a 12-month high of $169.99. The stock’s 50 day simple moving average is $153.84 and its 200 day simple moving average is $153.70.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings results on Tuesday, April 15th. The company reported $2.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.59 by $0.18. The business had revenue of $21.89 billion for the quarter, compared to analyst estimates of $21.65 billion. Johnson & Johnson had a return on equity of 34.24% and a net margin of 18.20%. As a group, equities research analysts predict that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors 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 dividend on an annualized basis and a yield of 3.31%. The ex-dividend date was Tuesday, May 27th. Johnson & Johnson’s dividend payout ratio is presently 57.84%.

About Johnson & Johnson

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.