First Citizens Bank & Trust Co. Purchases 1,388 Shares of Johnson & Johnson (NYSE:JNJ)

First Citizens Bank & Trust Co. grew its position in Johnson & Johnson (NYSE:JNJ) by 2.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 72,132 shares of the company’s stock after buying an additional 1,388 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Johnson & Johnson were worth $11,962,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. WealthTrak Capital Management LLC bought a new position in Johnson & Johnson during the 4th quarter worth about $26,000. Mountain Hill Investment Partners Corp. purchased a new stake in shares of Johnson & Johnson in the 4th quarter worth approximately $29,000. Conquis Financial LLC bought a new position in shares of Johnson & Johnson during the fourth quarter valued at approximately $33,000. Bernard Wealth Management Corp. bought a new position in Johnson & Johnson in the fourth quarter worth approximately $36,000. Finally, Runnymede Capital Advisors Inc. purchased a new stake in Johnson & Johnson during the fourth quarter worth $38,000. Institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Price Performance

NYSE JNJ opened at $155.02 on Monday. The company has a market cap of $372.99 billion, a price-to-earnings ratio of 23.31, a PEG ratio of 2.56 and a beta of 0.42. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.11 and a quick ratio of 0.86. The stock’s fifty day moving average price is $153.59 and its 200 day moving average price is $153.67. Johnson & Johnson has a 1 year low of $140.68 and a 1 year high of $169.99.

Johnson & Johnson (NYSE:JNJ) last posted 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 return on equity of 34.24% and a net margin of 18.20%. The business had revenue of $21.89 billion for the quarter, compared to the consensus estimate of $21.65 billion. As a group, equities research analysts forecast that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Tuesday, May 27th will be paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 3.35%. This is a boost from Johnson & Johnson’s previous quarterly dividend of $1.24. The ex-dividend date is Tuesday, May 27th. Johnson & Johnson’s payout ratio is presently 57.84%.

Wall Street Analysts Forecast Growth

JNJ has been the topic of a number of analyst reports. Guggenheim reiterated a “neutral” rating on shares of Johnson & Johnson in a report on Wednesday, April 2nd. Raymond James reduced their target price on shares of Johnson & Johnson from $165.00 to $162.00 and set an “outperform” rating for the company in a report on Monday, April 14th. Wall Street Zen cut shares of Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 22nd. Leerink Partners lowered shares of Johnson & Johnson from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $169.00 to $153.00 in a research note on Tuesday, May 13th. Finally, Leerink Partnrs cut shares of Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 13th. Eleven analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $170.88.

Johnson & Johnson Company Profile

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.