Inspire Trust Co. N.A. Acquires 1,500 Shares of Johnson & Johnson (NYSE:JNJ)

Key Points

• Inspire Trust Co. N.A. increased its stake in Johnson & Johnson by 5.4%, totaling 29,500 shares valued at approximately $4.89 million, making it the 21st largest holding in its portfolio.
• In the latest earnings report, Johnson & Johnson beat analysts' expectations with an EPS of $2.77 and revenues of $23.74 billion, marking a year-over-year revenue increase of 5.8%.
• The company announced a quarterly dividend of $1.30 per share, with an annualized yield of 3.0%, reflecting a dividend payout ratio of 55.61%.

Inspire Trust Co. N.A. raised its stake in Johnson & Johnson (NYSE:JNJ - Free Report) by 5.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,500 shares of the company's stock after acquiring an additional 1,500 shares during the quarter. Johnson & Johnson comprises approximately 1.2% of Inspire Trust Co. N.A.'s investment portfolio, making the stock its 21st biggest holding. Inspire Trust Co. N.A.'s holdings in Johnson & Johnson were worth $4,892,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

Several research firms recently issued reports on JNJ. Erste Group Bank raised shares of Johnson & Johnson from a "hold" rating to a "buy" rating in a research report on Wednesday, July 23rd. Leerink Partners cut Johnson & Johnson from an "outperform" rating to a "market perform" rating and decreased their price target for the company from $169.00 to $153.00 in a research report on Tuesday, May 13th. Barclays boosted their price objective on Johnson & Johnson from $165.00 to $176.00 and gave the stock an "equal weight" rating in a report on Thursday, July 17th. Piper Sandler reaffirmed an "overweight" rating on shares of Johnson & Johnson in a research note on Thursday, July 17th. Finally, Royal Bank Of Canada boosted their price objective on Johnson & Johnson from $181.00 to $185.00 and gave the company an "outperform" rating in a research report on Thursday, July 17th. 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. According to MarketBeat, Johnson & Johnson has an average rating of "Moderate Buy" and an average price target of $174.50.

Johnson & Johnson Stock Up 1.2%

Shares of NYSE JNJ traded up $2.04 during trading on Friday, reaching $176.76. The company had a trading volume of 9,476,237 shares, compared to its average volume of 8,427,234. The stock has a market cap of $425.70 billion, a PE ratio of 18.90, a P/E/G ratio of 2.23 and a beta of 0.41. 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 moving average is $160.85 and its 200 day moving average is $158.16. Johnson & Johnson has a 12-month low of $140.68 and a 12-month high of $177.27.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last released its quarterly earnings data on Wednesday, July 16th. The company reported $2.77 EPS for the quarter, beating the consensus estimate of $2.68 by $0.09. Johnson & Johnson had a return on equity of 32.49% and a net margin of 25.00%. The company had revenue of $23.74 billion for the quarter, compared to analysts' expectations of $22.85 billion. During the same period last year, the firm posted $2.82 earnings per share. Johnson & Johnson's revenue was up 5.8% compared to the same quarter last year. As a group, equities analysts forecast that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The company 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 $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Tuesday, August 26th. Johnson & Johnson's dividend payout ratio (DPR) is presently 55.61%.

Johnson & Johnson 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.