Grove Street Fiduciary LLC Invests $268,000 in Johnson & Johnson (NYSE:JNJ)

Grove Street Fiduciary LLC bought a new stake in Johnson & Johnson (NYSE:JNJ - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,614 shares of the company's stock, valued at approximately $268,000.

A number of other institutional investors also recently modified their holdings of JNJ. WealthTrak Capital Management LLC purchased a new stake in shares of Johnson & Johnson during the 4th quarter valued at approximately $26,000. Conquis Financial LLC purchased a new position in shares of Johnson & Johnson during the 4th quarter valued at $33,000. Bernard Wealth Management Corp. bought a new position in shares of Johnson & Johnson in the fourth quarter worth $36,000. Highline Wealth Partners LLC increased its holdings in shares of Johnson & Johnson by 51.8% in the first quarter. Highline Wealth Partners LLC now owns 252 shares of the company's stock worth $42,000 after purchasing an additional 86 shares during the period. Finally, von Borstel & Associates Inc. bought a new position in shares of Johnson & Johnson in the first quarter worth $49,000. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Morgan Stanley upped their price target on shares of Johnson & Johnson from $171.00 to $176.00 and gave the stock an "equal weight" rating in a report on Thursday, July 17th. Guggenheim reaffirmed a "neutral" rating and issued a $167.00 price target (up previously from $164.00) on shares of Johnson & Johnson in a report on Thursday, July 17th. Raymond James Financial decreased their price target on shares of Johnson & Johnson from $165.00 to $162.00 and set an "outperform" rating on the stock in a report on Monday, April 14th. Piper Sandler reaffirmed an "overweight" rating on shares of Johnson & Johnson in a report on Thursday, July 17th. Finally, Bank of America upped their price target on shares of Johnson & Johnson from $161.00 to $175.00 and gave the stock a "neutral" rating in a report on Thursday, July 17th. Nine research analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Johnson & Johnson currently has a consensus rating of "Moderate Buy" and an average price target of $174.50.

Johnson & Johnson Trading Down 0.7%

NYSE:JNJ traded down $1.27 during mid-day trading on Friday, reaching $168.29. 6,199,690 shares of the company's stock traded hands, compared to its average volume of 8,375,731. Johnson & Johnson has a 12-month low of $140.68 and a 12-month high of $169.99. The firm has a market capitalization of $404.92 billion, a price-to-earnings ratio of 18.00, a PEG ratio of 2.16 and a beta of 0.41. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.26 and a quick ratio of 1.03. The company has a 50 day moving average price of $156.08 and a 200-day moving average price of $155.78.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last issued its quarterly earnings results on Wednesday, July 16th. The company reported $2.77 EPS for the quarter, topping analysts' consensus estimates of $2.68 by $0.09. Johnson & Johnson had a return on equity of 33.07% and a net margin of 25.00%. The firm had revenue of $23.74 billion for the quarter, compared to analysts' expectations of $22.85 billion. During the same period in the previous year, the firm posted $2.82 EPS. The business's revenue for the quarter was up 5.8% compared to the same quarter last year. On average, sell-side analysts predict that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 9th. Investors of record on Tuesday, August 26th will be given a $1.30 dividend. The ex-dividend date is Tuesday, August 26th. This represents a $5.20 annualized dividend and a yield of 3.09%. Johnson & Johnson's dividend payout ratio (DPR) is presently 55.61%.

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.