Linscomb Wealth Inc. Acquires 2,969 Shares of Johnson & Johnson (NYSE:JNJ)

Key Points

• Linscomb Wealth Inc. has increased its holdings in Johnson & Johnson by 4.3%, now owning a total of 72,801 shares valued at approximately $12 million, making it the firm's 29th largest holding.
• Several hedge funds have made notable changes to their positions in Johnson & Johnson, with Brighton Jones LLC increasing its stake by 13.9%, now owning nearly 52,000 shares worth about $7.5 million.
• Johnson & Johnson reported earnings per share of $2.77 for the last quarter, surpassing expectations, alongside a recent quarterly dividend announcement of $1.30 per share, reflecting a 3.0% yield.

Linscomb Wealth Inc. boosted its stake in Johnson & Johnson (NYSE:JNJ - Free Report) by 4.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 72,801 shares of the company's stock after buying an additional 2,969 shares during the period. Johnson & Johnson accounts for approximately 0.6% of Linscomb Wealth Inc.'s portfolio, making the stock its 29th largest position. Linscomb Wealth Inc.'s holdings in Johnson & Johnson were worth $12,073,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of JNJ. Lantz Financial LLC lifted its holdings in shares of Johnson & Johnson by 3.3% during the first quarter. Lantz Financial LLC now owns 11,974 shares of the company's stock valued at $1,986,000 after purchasing an additional 377 shares during the last quarter. Sulzberger Capital Advisors Inc. purchased a new position in shares of Johnson & Johnson during the fourth quarter valued at approximately $453,000. Joel Isaacson & Co. LLC lifted its holdings in shares of Johnson & Johnson by 3.5% during the first quarter. Joel Isaacson & Co. LLC now owns 74,132 shares of the company's stock valued at $12,294,000 after purchasing an additional 2,526 shares during the last quarter. State of Wyoming lifted its holdings in shares of Johnson & Johnson by 205,580.0% during the fourth quarter. State of Wyoming now owns 10,284 shares of the company's stock valued at $1,487,000 after purchasing an additional 10,279 shares during the last quarter. Finally, Range Financial Group LLC lifted its holdings in shares of Johnson & Johnson by 18.9% during the first quarter. Range Financial Group LLC now owns 15,886 shares of the company's stock valued at $2,635,000 after purchasing an additional 2,529 shares during the last quarter. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Johnson & Johnson Stock Performance

JNJ traded up $0.65 during mid-day trading on Monday, reaching $173.98. 7,208,197 shares of the company traded hands, compared to its average volume of 9,486,962. The stock has a market capitalization of $418.99 billion, a P/E ratio of 18.61, a P/E/G ratio of 2.21 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 company's fifty day moving average price is $159.63 and its 200-day moving average price is $157.79. Johnson & Johnson has a 52-week low of $140.68 and a 52-week high of $174.60.

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 (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 firm had revenue of $23.74 billion during the quarter, compared to the consensus estimate of $22.85 billion. During the same quarter in the previous year, the firm posted $2.82 EPS. The company's revenue for the quarter was up 5.8% compared to the same quarter last year. On average, sell-side analysts expect that Johnson & Johnson will post 10.58 EPS 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 dividend of $1.30 per share. The ex-dividend date of this dividend is Tuesday, August 26th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.0%. Johnson & Johnson's payout ratio is presently 55.61%.

Analysts Set New Price Targets

JNJ has been the subject of several recent research reports. Sanford C. Bernstein reiterated a "market perform" rating on shares of Johnson & Johnson in a report on Wednesday, April 16th. UBS Group lifted their target price on shares of Johnson & Johnson from $180.00 to $190.00 and gave the company a "buy" rating in a report on Thursday, July 17th. Royal Bank Of Canada boosted their price objective on shares of Johnson & Johnson from $181.00 to $185.00 and gave the stock an "outperform" rating in a report on Thursday, July 17th. Barclays boosted their price objective on shares of Johnson & Johnson from $165.00 to $176.00 and gave the stock an "equal weight" rating in a report on Thursday, July 17th. Finally, Piper Sandler restated an "overweight" rating on shares of Johnson & Johnson in a report on Thursday, July 17th. Nine analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target 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.