Johnson & Johnson $JNJ Shares Acquired by Texas Capital Bank Wealth Management Services Inc

by · The Cerbat Gem

Texas Capital Bank Wealth Management Services Inc increased its stake in Johnson & Johnson (NYSE:JNJ – Free Report) by 39.0% during the first quarter, HoldingsChannel.com reports. The fund owned 8,730 shares of the company’s stock after buying an additional 2,448 shares during the period. Texas Capital Bank Wealth Management Services Inc’s holdings in Johnson & Johnson were worth $1,448,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Highline Wealth Partners LLC grew its holdings in shares of Johnson & Johnson by 51.8% in the 1st quarter. Highline Wealth Partners LLC now owns 252 shares of the company’s stock worth $42,000 after acquiring an additional 86 shares during the last quarter. Stone House Investment Management LLC purchased a new position in shares of Johnson & Johnson during the first quarter valued at $47,000. von Borstel & Associates Inc. purchased a new position in shares of Johnson & Johnson during the first quarter valued at $49,000. Capital A Wealth Management LLC purchased a new position in shares of Johnson & Johnson during the fourth quarter valued at $50,000. Finally, Harvest Fund Management Co. Ltd purchased a new position in shares of Johnson & Johnson during the first quarter valued at $52,000. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

JNJ has been the topic of a number of research analyst reports. Leerink Partnrs downgraded Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 13th. Benchmark upgraded Johnson & Johnson to a “strong-buy” rating in a report on Thursday, April 24th. UBS Group lifted their price target on Johnson & Johnson from $180.00 to $190.00 and gave the company a “buy” rating in a report on Thursday, July 17th. Guggenheim reiterated a “neutral” rating and set a $167.00 price target (up previously from $164.00) on shares of Johnson & Johnson in a report on Thursday, July 17th. Finally, Wall Street Zen downgraded Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a report on Friday, July 18th. Nine investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $174.50.

Read Our Latest Stock Report on Johnson & Johnson

Johnson & Johnson Price Performance

JNJ opened at $176.26 on Tuesday. Johnson & Johnson has a 1 year low of $140.68 and a 1 year high of $177.57. The stock has a fifty day moving average price of $161.70 and a 200 day moving average price of $158.60. The stock has a market cap of $424.49 billion, a price-to-earnings ratio of 18.85, a PEG ratio of 2.25 and a beta of 0.41. The company has a current ratio of 1.01, a quick ratio of 0.76 and a debt-to-equity ratio of 0.50.

Johnson & Johnson (NYSE:JNJ – Get Free Report) last announced its quarterly earnings results on Wednesday, July 16th. The company reported $2.77 earnings per share for the quarter, topping analysts’ consensus estimates of $2.68 by $0.09. Johnson & Johnson had a return on equity of 32.49% and a net margin of 25.00%. The company had revenue of $23.74 billion during the quarter, compared to analysts’ expectations of $22.85 billion. During the same quarter in the previous year, the firm earned $2.82 earnings per share. The business’s quarterly revenue was up 5.8% compared to the same quarter last year. Analysts forecast that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 9th. Shareholders of record on Tuesday, August 26th will be given a $1.30 dividend. The ex-dividend date of this dividend is Tuesday, August 26th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.0%. Johnson & Johnson’s payout ratio is currently 55.61%.

Johnson & Johnson Profile

(Free Report)

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.

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