GAMMA Investing LLC Has $7.22 Million Position in Johnson & Johnson (NYSE:JNJ)

GAMMA Investing LLC boosted its stake in Johnson & Johnson (NYSE:JNJ) by 48.0% during the 1st quarter, HoldingsChannel reports. The fund owned 43,508 shares of the company’s stock after acquiring an additional 14,118 shares during the quarter. Johnson & Johnson comprises 0.5% of GAMMA Investing LLC’s investment portfolio, making the stock its 29th largest position. GAMMA Investing LLC’s holdings in Johnson & Johnson were worth $7,215,000 as of its most recent filing with the Securities and Exchange Commission.

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

Analyst Ratings Changes

JNJ has been the topic of a number of recent research reports. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Johnson & Johnson in a research report on Wednesday, April 16th. Morgan Stanley lifted their price target on Johnson & Johnson from $164.00 to $169.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 16th. Bank of America lowered their target price on Johnson & Johnson from $171.00 to $159.00 and set a “neutral” rating for the company in a research report on Thursday, April 10th. Royal Bank Of Canada restated an “outperform” rating and issued a $181.00 target price on shares of Johnson & Johnson in a report on Thursday, June 5th. Finally, Guggenheim reiterated a “neutral” rating on shares of Johnson & Johnson in a research note on Wednesday, April 2nd. Eleven investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, Johnson & Johnson has an average rating of “Moderate Buy” and an average price target of $170.88.

Johnson & Johnson Price Performance

Shares of Johnson & Johnson stock opened at $152.44 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.26 and a debt-to-equity ratio of 0.49. The company’s fifty day simple moving average is $153.75 and its two-hundred day simple moving average is $153.71. The firm has a market cap of $366.78 billion, a PE ratio of 16.96, a price-to-earnings-growth ratio of 2.30 and a beta of 0.42. Johnson & Johnson has a 12-month low of $140.68 and a 12-month high of $169.99.

Johnson & Johnson (NYSE:JNJ) last released its quarterly 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 24.42% and a return on equity of 33.46%. The business had revenue of $21.89 billion for the quarter, compared to analysts’ expectations of $21.65 billion. As a group, equities analysts expect that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Tuesday, May 27th were issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.41%. The ex-dividend date was Tuesday, May 27th. This is a boost from Johnson & Johnson’s previous quarterly dividend of $1.24. Johnson & Johnson’s payout ratio is 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.