Bayforest Capital Ltd Acquires 3,082 Shares of Johnson & Johnson (NYSE:JNJ)

Key Points

• Bayforest Capital Ltd increased its holdings in Johnson & Johnson by 289.1% in the first quarter, now owning 4,148 shares valued at $688,000 according to a recent SEC filing.
• Johnson & Johnson reported a quarterly earnings of $2.77 per share, surpassing analysts' expectations and showing a revenue of $23.74 billion, which is a 5.8% increase from the previous year.
• The company declared a quarterly dividend of $1.30 per share, representing an annual yield of 3.09%, with a payout ratio of 55.61% for shareholders of record by August 26th.

Bayforest Capital Ltd grew its holdings in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 289.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,148 shares of the company's stock after buying an additional 3,082 shares during the quarter. Bayforest Capital Ltd's holdings in Johnson & Johnson were worth $688,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in JNJ. Marshall Investment Management LLC lifted its stake in Johnson & Johnson by 8.7% during the first quarter. Marshall Investment Management LLC now owns 8,802 shares of the company's stock worth $1,460,000 after purchasing an additional 703 shares during the last quarter. XTX Topco Ltd lifted its stake in Johnson & Johnson by 132.4% in the first quarter. XTX Topco Ltd now owns 66,246 shares of the company's stock valued at $10,986,000 after buying an additional 37,736 shares during the last quarter. Harvest Fund Management Co. Ltd bought a new stake in Johnson & Johnson in the first quarter valued at $52,000. First Foundation Advisors lifted its stake in Johnson & Johnson by 3.6% in the first quarter. First Foundation Advisors now owns 48,755 shares of the company's stock valued at $8,085,000 after buying an additional 1,705 shares during the last quarter. Finally, Banque Cantonale Vaudoise bought a new stake in Johnson & Johnson in the first quarter valued at $13,476,000. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Johnson & Johnson Stock Up 1.6%

Shares of Johnson & Johnson stock traded up $2.59 during trading on Friday, hitting $167.33. 8,914,735 shares of the stock traded hands, compared to its average volume of 9,077,193. The stock has a market cap of $402.99 billion, a P/E ratio of 17.90, a PEG ratio of 2.13 and a beta of 0.41. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.76 and a current ratio of 1.01. Johnson & Johnson has a twelve month low of $140.68 and a twelve month high of $169.99. The company has a fifty day moving average price of $157.18 and a two-hundred day moving average price of $156.44.

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

Johnson & Johnson Announces Dividend

The firm also recently declared 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 3.1%. The ex-dividend date of this dividend is Tuesday, August 26th. Johnson & Johnson's payout ratio is currently 55.61%.

Analysts Set New Price Targets

JNJ has been the topic of a number of research analyst reports. Morgan Stanley raised their price target on Johnson & Johnson from $171.00 to $176.00 and gave the company an "equal weight" rating in a report on Thursday, July 17th. Bank of America raised their price target on Johnson & Johnson from $161.00 to $175.00 and gave the company a "neutral" rating in a report on Thursday, July 17th. Raymond James Financial lowered their price target on Johnson & Johnson from $165.00 to $162.00 and set an "outperform" rating on the stock in a report on Monday, April 14th. Royal Bank Of Canada raised their price target on Johnson & Johnson from $181.00 to $185.00 and gave the company an "outperform" rating in a report on Thursday, July 17th. Finally, Piper Sandler reaffirmed an "overweight" rating on shares of Johnson & Johnson in a report on Thursday, July 17th. Nine equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price 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.