Accuvest Global Advisors Invests $1.03 Million in Johnson & Johnson (NYSE:JNJ)

Accuvest Global Advisors purchased a new stake in Johnson & Johnson (NYSE:JNJ - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 6,203 shares of the company's stock, valued at approximately $1,029,000. Johnson & Johnson makes up 0.9% of Accuvest Global Advisors' holdings, making the stock its 28th largest holding.

Several other hedge funds also recently modified their holdings of the company. Elios Financial Group Inc. lifted its stake in shares of Johnson & Johnson by 1.5% in the 1st quarter. Elios Financial Group Inc. now owns 4,496 shares of the company's stock valued at $746,000 after purchasing an additional 66 shares during the period. Atlantic Family Wealth LLC boosted its holdings in shares of Johnson & Johnson by 4.4% during the 1st quarter. Atlantic Family Wealth LLC now owns 1,603 shares of the company's stock worth $266,000 after buying an additional 67 shares in the last quarter. MBA Advisors LLC increased its stake in shares of Johnson & Johnson by 1.2% in the 1st quarter. MBA Advisors LLC now owns 5,553 shares of the company's stock valued at $921,000 after acquiring an additional 68 shares in the last quarter. Sovereign Financial Group Inc. boosted its stake in Johnson & Johnson by 1.8% during the first quarter. Sovereign Financial Group Inc. now owns 3,928 shares of the company's stock worth $651,000 after acquiring an additional 69 shares in the last quarter. Finally, Nabity Jensen Investment Management Inc grew its holdings in Johnson & Johnson by 1.5% in the first quarter. Nabity Jensen Investment Management Inc now owns 4,624 shares of the company's stock worth $767,000 after purchasing an additional 69 shares during the period. Institutional investors and hedge funds own 69.55% of the company's stock.

Johnson & Johnson Stock Performance

NYSE:JNJ opened at $170.72 on Thursday. Johnson & Johnson has a 1 year low of $140.68 and a 1 year high of $172.18. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.01 and a quick ratio of 0.76. The business has a fifty day simple moving average of $158.53 and a two-hundred day simple moving average of $157.10. The company has a market capitalization of $411.14 billion, a P/E ratio of 18.26, a P/E/G ratio of 2.17 and a beta of 0.41.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last issued its 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. The firm had revenue of $23.74 billion during the quarter, compared to analyst estimates of $22.85 billion. Johnson & Johnson had a net margin of 25.00% and a return on equity of 32.49%. The company's quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter last year, the business earned $2.82 earnings per share. On average, analysts expect that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

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

Analyst Ratings Changes

A number of research firms have recently issued reports on JNJ. Benchmark raised shares of Johnson & Johnson to a "strong-buy" rating in a research report on Thursday, April 24th. Erste Group Bank upgraded Johnson & Johnson from a "hold" rating to a "buy" rating in a report on Wednesday, July 23rd. Piper Sandler restated an "overweight" rating on shares of Johnson & Johnson in a research note on Thursday, July 17th. Wall Street Zen cut shares of Johnson & Johnson from a "strong-buy" rating to a "buy" rating in a report on Friday, July 18th. Finally, Leerink Partners lowered shares of Johnson & Johnson from an "outperform" rating to a "market perform" rating and lowered their target price for the stock from $169.00 to $153.00 in a report on Tuesday, May 13th. Nine research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $174.50.

About Johnson & Johnson

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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