CCM Investment Group LLC Buys Shares of 50,917 Johnson & Johnson (NYSE:JNJ)

Key Points

• CCM Investment Group LLC acquired 50,917 shares of Johnson & Johnson (NYSE:JNJ) valued at approximately $8.34 million, making it the firm's 10th largest holding.
• Johnson & Johnson's latest quarterly earnings reported $2.77 earnings per share, surpassing analyst expectations, with revenue of $23.74 billion.
• The company declared a quarterly dividend of $1.30 per share, with an expected annual yield of 3.0%, payable on September 9th to shareholders of record on August 26th.

CCM Investment Group LLC bought a new position in shares of Johnson & Johnson (NYSE:JNJ - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 50,917 shares of the company's stock, valued at approximately $8,336,000. Johnson & Johnson makes up 0.9% of CCM Investment Group LLC's holdings, making the stock its 10th biggest holding.

A number of other institutional investors have also added to or reduced their stakes in the company. Highline Wealth Partners LLC boosted its holdings in Johnson & Johnson by 51.8% during the first quarter. Highline Wealth Partners LLC now owns 252 shares of the company's stock valued at $42,000 after purchasing an additional 86 shares in the last quarter. von Borstel & Associates Inc. acquired a new stake in Johnson & Johnson during the first quarter valued at approximately $49,000. Harvest Fund Management Co. Ltd acquired a new stake in Johnson & Johnson during the first quarter valued at approximately $52,000. Capital A Wealth Management LLC acquired a new stake in Johnson & Johnson during the fourth quarter valued at approximately $50,000. Finally, Pandora Wealth Inc. acquired a new stake in Johnson & Johnson during the first quarter valued at approximately $65,000. 69.55% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

JNJ has been the topic of a number of recent research reports. Piper Sandler reaffirmed an "overweight" rating on shares of Johnson & Johnson in a report on Thursday, July 17th. Raymond James Financial reduced their target price on Johnson & Johnson from $165.00 to $162.00 and set an "outperform" rating on the stock in a report on Monday, April 14th. Morgan Stanley boosted their target price on Johnson & Johnson from $171.00 to $176.00 and gave the stock an "equal weight" rating in a report on Thursday, July 17th. Barclays boosted their target price on Johnson & Johnson from $165.00 to $176.00 and gave the stock an "equal weight" rating in a report on Thursday, July 17th. Finally, Bank of America boosted their target price on Johnson & Johnson from $161.00 to $175.00 and gave the stock a "neutral" rating in a report on Thursday, July 17th. Nine equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $174.50.

Johnson & Johnson Trading Up 0.4%

JNJ stock traded up $0.65 during trading on Monday, hitting $173.98. The company had a trading volume of 7,208,197 shares, compared to its average volume of 9,486,962. The company has a quick ratio of 0.76, a current ratio of 1.01 and a debt-to-equity ratio of 0.50. The firm has a 50-day moving average price of $159.63 and a 200-day moving average price of $157.79. Johnson & Johnson has a 12 month low of $140.68 and a 12 month high of $174.60. The stock has a market cap of $418.99 billion, a price-to-earnings ratio of 18.61, a PEG ratio of 2.21 and a beta of 0.41.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last posted its quarterly earnings data on Wednesday, July 16th. The company reported $2.77 earnings per share for the quarter, topping the consensus estimate of $2.68 by $0.09. Johnson & Johnson had a net margin of 25.00% and a return on equity of 32.49%. The firm 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 company posted $2.82 EPS. Johnson & Johnson's revenue was up 5.8% on a year-over-year basis. As a group, analysts predict that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 9th. Shareholders of record on Tuesday, August 26th will be given a dividend of $1.30 per share. The ex-dividend date is Tuesday, August 26th. This represents a $5.20 annualized dividend and a dividend yield of 3.0%. Johnson & Johnson's payout ratio is presently 55.61%.

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.