Harbour Investments Inc. Has $6.31 Million Stake in Johnson & Johnson (NYSE:JNJ)

Key Points

• Harbour Investments Inc. increased its stake in Johnson & Johnson (NYSE:JNJ) by 6.2% in the first quarter, now owning 38,050 shares valued at approximately $6.31 million.
• Johnson & Johnson recently reported a quarterly earnings per share (EPS) of $2.77, exceeding analyst expectations, with a revenue of $23.74 billion, marking a year-over-year increase of 5.8%.
• The company declared a quarterly dividend of $1.30 per share, representing an annualized dividend of $5.20 and a yield of 3.11%.

Harbour Investments Inc. boosted its position in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 6.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,050 shares of the company's stock after purchasing an additional 2,227 shares during the period. Harbour Investments Inc.'s holdings in Johnson & Johnson were worth $6,310,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Atlantic Family Wealth LLC increased its position in shares of Johnson & Johnson by 4.4% in the first quarter. Atlantic Family Wealth LLC now owns 1,603 shares of the company's stock worth $266,000 after acquiring an additional 67 shares in the last quarter. MBA Advisors LLC raised its stake in Johnson & Johnson by 1.2% during the 1st quarter. MBA Advisors LLC now owns 5,553 shares of the company's stock valued at $921,000 after purchasing an additional 68 shares during the last quarter. Sovereign Financial Group Inc. raised its stake in Johnson & Johnson by 1.8% during the 1st quarter. Sovereign Financial Group Inc. now owns 3,928 shares of the company's stock valued at $651,000 after purchasing an additional 69 shares during the last quarter. Nabity Jensen Investment Management Inc raised its stake in Johnson & Johnson by 1.5% during the 1st quarter. Nabity Jensen Investment Management Inc now owns 4,624 shares of the company's stock valued at $767,000 after purchasing an additional 69 shares during the last quarter. Finally, Jackson Grant Investment Advisers Inc. raised its stake in Johnson & Johnson by 0.5% during the 1st quarter. Jackson Grant Investment Advisers Inc. now owns 12,970 shares of the company's stock valued at $2,151,000 after purchasing an additional 69 shares during the last quarter. 69.55% of the stock is owned by institutional investors and hedge funds.

Johnson & Johnson Stock Up 1.6%

Shares of NYSE:JNJ traded up $2.59 during midday trading on Friday, hitting $167.33. The stock had a trading volume of 8,914,735 shares, compared to its average volume of 8,384,981. Johnson & Johnson has a 12 month low of $140.68 and a 12 month high of $169.99. 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 business's 50-day simple moving average is $157.46 and its 200-day simple moving average is $156.60. The company has a market cap of $402.99 billion, a P/E ratio of 17.90, a PEG ratio of 2.10 and a beta of 0.41.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last announced its earnings results on Wednesday, July 16th. The company reported $2.77 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.68 by $0.09. Johnson & Johnson had a net margin of 25.00% and a return on equity of 32.49%. 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 business posted $2.82 earnings per share. Johnson & Johnson's quarterly revenue was up 5.8% on a year-over-year basis. On average, sell-side analysts forecast that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

The company 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 dividend of $1.30 per share. The ex-dividend date of this dividend is Tuesday, August 26th. This represents a $5.20 annualized dividend and a yield of 3.1%. Johnson & Johnson's dividend payout ratio is currently 55.61%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on JNJ shares. Leerink Partners cut shares of Johnson & Johnson from an "outperform" rating to a "market perform" rating and dropped their price objective for the company from $169.00 to $153.00 in a research note on Tuesday, May 13th. Erste Group Bank upgraded shares of Johnson & Johnson from a "hold" rating to a "buy" rating in a research note on Wednesday, July 23rd. The Goldman Sachs Group upgraded shares of Johnson & Johnson from a "neutral" rating to a "buy" rating and increased their target price for the stock from $157.00 to $172.00 in a research report on Wednesday, April 9th. Barclays increased their target price on shares of Johnson & Johnson from $165.00 to $176.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 17th. Finally, Piper Sandler reissued an "overweight" rating on shares of Johnson & Johnson in a report on Thursday, July 17th. Nine research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $174.50.

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.