Welch Investments LLC raised its position in Johnson & Johnson (NYSE:JNJ) by 1.4% during the third quarter, HoldingsChannel.com reports. The fund owned 35,608 shares of the company’s stock after acquiring an additional 501 shares during the period. Johnson & Johnson comprises approximately 3.2% of Welch Investments LLC’s investment portfolio, making the stock its 16th biggest position. Welch Investments LLC’s holdings in Johnson & Johnson were worth $4,629,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of JNJ. Abbrea Capital LLC increased its position in Johnson & Johnson by 1.3% in the third quarter. Abbrea Capital LLC now owns 33,855 shares of the company’s stock worth $4,401,000 after buying an additional 441 shares in the last quarter. Putnam FL Investment Management Co. purchased a new stake in shares of Johnson & Johnson during the third quarter worth about $5,138,000. IBM Retirement Fund grew its position in shares of Johnson & Johnson by 1.3% during the third quarter. IBM Retirement Fund now owns 66,873 shares of the company’s stock worth $9,568,000 after purchasing an additional 844 shares in the last quarter. Gs Investments Inc. grew its position in shares of Johnson & Johnson by 32.0% during the third quarter. Gs Investments Inc. now owns 4,435 shares of the company’s stock worth $577,000 after purchasing an additional 1,075 shares in the last quarter. Finally, Blue Chip Partners Inc. grew its position in shares of Johnson & Johnson by 2.7% during the third quarter. Blue Chip Partners Inc. now owns 67,697 shares of the company’s stock worth $8,801,000 after purchasing an additional 1,760 shares in the last quarter. 65.53% of the stock is currently owned by institutional investors.

JNJ has been the subject of several research analyst reports. Vetr upgraded Johnson & Johnson from a “hold” rating to a “buy” rating and set a $152.28 target price for the company in a research report on Tuesday, January 23rd. Credit Suisse Group set a $154.00 target price on Johnson & Johnson and gave the stock an “outperform” rating in a research report on Thursday, October 19th. Royal Bank of Canada increased their target price on Johnson & Johnson from $144.00 to $147.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 18th. Stifel Nicolaus increased their target price on Johnson & Johnson from $142.00 to $145.00 and gave the stock a “hold” rating in a research report on Wednesday, January 24th. Finally, Citigroup increased their target price on Johnson & Johnson from $140.00 to $149.00 and gave the stock a “buy” rating in a research report on Monday, October 23rd. Four analysts have rated the stock with a sell rating, eight have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Johnson & Johnson currently has a consensus rating of “Hold” and an average price target of $146.16.

Johnson & Johnson (JNJ) opened at $129.67 on Thursday. Johnson & Johnson has a one year low of $115.59 and a one year high of $148.32. The company has a market capitalization of $348,360.00, a P/E ratio of 332.49, a P/E/G ratio of 2.34 and a beta of 0.74. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.02 and a current ratio of 1.32.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings results on Tuesday, January 23rd. The company reported $1.74 EPS for the quarter, beating analysts’ consensus estimates of $1.72 by $0.02. Johnson & Johnson had a return on equity of 27.80% and a net margin of 1.70%. The company had revenue of $20.20 billion during the quarter, compared to analyst estimates of $20.08 billion. During the same period in the prior year, the company earned $1.58 earnings per share. The firm’s revenue was up 11.5% on a year-over-year basis. equities analysts anticipate that Johnson & Johnson will post 8.08 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 13th. Investors of record on Tuesday, February 27th will be paid a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 2.59%. The ex-dividend date of this dividend is Monday, February 26th. Johnson & Johnson’s payout ratio is presently 861.54%.

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Johnson & Johnson Profile

Johnson & Johnson is a holding company, which is engaged in the research and development, manufacture and sale of a range of products in the healthcare field. It operates through three segments: Consumer, Pharmaceutical and Medical Devices. Its primary focus is products related to human health and well-being.

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Institutional Ownership by Quarter for Johnson & Johnson (NYSE:JNJ)

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