Graypoint LLC Increases Stock Position in Johnson & Johnson (NYSE:JNJ)

Graypoint LLC increased its stake in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 28.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 23,338 shares of the company's stock after buying an additional 5,108 shares during the period. Graypoint LLC's holdings in Johnson & Johnson were worth $3,870,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. WealthTrak Capital Management LLC purchased a new stake in shares of Johnson & Johnson in the fourth quarter valued at about $26,000. Mountain Hill Investment Partners Corp. purchased a new stake in shares of Johnson & Johnson in the fourth quarter valued at about $29,000. Conquis Financial LLC purchased a new stake in shares of Johnson & Johnson in the fourth quarter valued at about $33,000. Bernard Wealth Management Corp. purchased a new stake in shares of Johnson & Johnson in the fourth quarter valued at about $36,000. Finally, Highline Wealth Partners LLC lifted 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 valued at $42,000 after purchasing an additional 86 shares in the last quarter. Hedge funds and other institutional investors own 69.55% of the company's stock.

Analysts Set New Price Targets

JNJ has been the topic of several recent research reports. The Goldman Sachs Group raised shares of Johnson & Johnson from a "neutral" rating to a "buy" rating and upped their price target for the company from $157.00 to $172.00 in a report on Wednesday, April 9th. Piper Sandler reissued an "overweight" rating on shares of Johnson & Johnson in a research note on Thursday. Sanford C. Bernstein reissued a "market perform" rating on shares of Johnson & Johnson in a research note on Wednesday, April 16th. Wall Street Zen raised shares of Johnson & Johnson from a "buy" rating to a "strong-buy" rating in a research note on Saturday, June 21st. Finally, Bank of America upped their price objective on shares of Johnson & Johnson from $161.00 to $175.00 and gave the company a "neutral" rating in a research note on Thursday. Eleven analysts have rated the stock with a hold rating, nine have issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $174.11.

Johnson & Johnson Trading Up 0.4%

JNJ stock traded up $0.67 on Friday, hitting $163.65. 9,764,459 shares of the company were exchanged, compared to its average volume of 8,146,242. Johnson & Johnson has a twelve month low of $140.68 and a twelve month high of $169.99. 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 business's fifty day moving average is $154.10 and its two-hundred day moving average is $154.84. The stock has a market capitalization of $393.75 billion, a price-to-earnings ratio of 17.50, a price-to-earnings-growth ratio of 2.21 and a beta of 0.41.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last released its quarterly earnings data on Wednesday, July 16th. The company reported $2.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.68 by $0.09. Johnson & Johnson had a net margin of 25.00% and a return on equity of 33.07%. The company had revenue of $23.74 billion during the quarter, compared to analyst estimates of $22.85 billion. During the same quarter in the prior year, the business earned $2.82 earnings per share. The business's quarterly revenue was up 5.8% compared to the same quarter last year. As a group, research analysts forecast 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. Stockholders of record on Tuesday, August 26th will be given a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 3.18%. The ex-dividend date is Tuesday, August 26th. Johnson & Johnson's payout ratio is currently 55.61%.

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.