Johnson & Johnson (NYSE:JNJ) is Brooktree Capital Management’s 6th Largest Position
Brooktree Capital Management cut its stake in shares of Johnson & Johnson (NYSE:JNJ) by 0.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 32,382 shares of the company’s stock after selling 293 shares during the period. Johnson & Johnson comprises approximately 4.9% of Brooktree Capital Management’s holdings, making the stock its 6th largest position. Brooktree Capital Management’s holdings in Johnson & Johnson were worth $4,246,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in JNJ. Exchange Traded Concepts LLC purchased a new stake in Johnson & Johnson during the 4th quarter valued at $31,000. University of Texas Texas AM Investment Managment Co. purchased a new stake in shares of Johnson & Johnson in the 4th quarter worth $31,000. Advocacy Wealth Management Services LLC increased its stake in shares of Johnson & Johnson by 38.2% in the 1st quarter. Advocacy Wealth Management Services LLC now owns 300 shares of the company’s stock worth $39,000 after purchasing an additional 83 shares in the last quarter. Lion Street Advisors LLC purchased a new stake in shares of Johnson & Johnson in the 1st quarter worth $45,000. Finally, Joseph P. Lucia & Associates LLC increased its stake in shares of Johnson & Johnson by 50.8% in the 1st quarter. Joseph P. Lucia & Associates LLC now owns 374 shares of the company’s stock worth $49,000 after purchasing an additional 126 shares in the last quarter. Institutional investors and hedge funds own 67.66% of the company’s stock.
JNJ opened at $144.37 on Friday. The firm has a 50-day simple moving average of $146.81 and a two-hundred day simple moving average of $142.30. Johnson & Johnson has a 52 week low of $109.16 and a 52 week high of $157.00. The company has a market capitalization of $386.52 billion, a PE ratio of 19.10, a price-to-earnings-growth ratio of 3.19 and a beta of 0.71. The company has a quick ratio of 1.05, a current ratio of 1.31 and a debt-to-equity ratio of 0.41.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 9th. Investors of record on Tuesday, May 26th will be issued a $1.01 dividend. This is an increase from Johnson & Johnson’s previous quarterly dividend of $0.95. The ex-dividend date is Friday, May 22nd. This represents a $4.04 dividend on an annualized basis and a dividend yield of 2.80%. Johnson & Johnson’s dividend payout ratio (DPR) is presently 43.78%.
In other Johnson & Johnson news, Director William D. Perez purchased 500 shares of the stock in a transaction that occurred on Friday, March 13th. The stock was purchased at an average price of $127.69 per share, with a total value of $63,845.00. Following the acquisition, the director now owns 16,030 shares in the company, valued at $2,046,870.70. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.27% of the stock is currently owned by company insiders.
Several equities research analysts have recently commented on the company. SVB Leerink reduced their price objective on Johnson & Johnson from $172.00 to $160.00 and set an “outperform” rating for the company in a research note on Wednesday, April 8th. Barclays upped their price objective on Johnson & Johnson from $173.00 to $182.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 29th. Stifel Nicolaus upped their price objective on Johnson & Johnson from $140.00 to $155.00 and gave the stock a “hold” rating in a research note on Wednesday, April 15th. Raymond James upped their price objective on Johnson & Johnson from $153.00 to $157.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 15th. Finally, Argus restated a “buy” rating and issued a $155.00 price objective (down from $165.00) on shares of Johnson & Johnson in a research note on Friday, March 27th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Johnson & Johnson presently has an average rating of “Buy” and an average target price of $163.47.
About Johnson & Johnson
Johnson & Johnson, together with its subsidiaries, researches and develops, manufactures, and sells various products in the health care field worldwide. It operates in three segments: Consumer, Pharmaceutical, and Medical Devices. The Consumer segment offers baby care products under the JOHNSON'S brand; oral care products under the LISTERINE brand; beauty products under the AVEENO, CLEAN & CLEAR, DABAO, JOHNSON'S Adult, LE PETITE MARSEILLAIS, NEUTROGENA, and OGX brands; over-the-counter medicines, including acetaminophen products under the TYLENOL brand; cold, flu, and allergy products under the SUDAFED brand; allergy products under the BENADRYL and ZYRTEC brands; ibuprofen products under the MOTRIN IB brand; and acid reflux products under the PEPCID brand.
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