50,598 Shares in Johnson & Johnson (NYSE:JNJ) Acquired by S Bank Fund Management Ltd

Key Points

• S Bank Fund Management Ltd has invested approximately $8.39 million in Johnson & Johnson, acquiring 50,598 shares, which represents 1.6% of its investment portfolio.
• Johnson & Johnson reported $2.77 earnings per share for the last quarter, exceeding analyst expectations and marking a 5.8% increase in revenue year-over-year.
• The company announced a quarterly dividend of $1.30 per share, with a dividend yield of 3.0%, set to be paid on September 9th.

S Bank Fund Management Ltd bought a new position in shares of Johnson & Johnson (NYSE:JNJ - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 50,598 shares of the company's stock, valued at approximately $8,391,000. Johnson & Johnson accounts for approximately 1.6% of S Bank Fund Management Ltd's holdings, making the stock its 11th largest holding.

Other hedge funds have also added to or reduced their stakes in the company. Highline Wealth Partners LLC lifted its position in shares of Johnson & Johnson by 51.8% during the 1st quarter. Highline Wealth Partners LLC now owns 252 shares of the company's stock valued at $42,000 after acquiring an additional 86 shares during the period. Stone House Investment Management LLC bought a new stake in shares of Johnson & Johnson in the 1st quarter worth $47,000. von Borstel & Associates Inc. bought a new stake in shares of Johnson & Johnson in the 1st quarter worth $49,000. Harvest Fund Management Co. Ltd bought a new stake in shares of Johnson & Johnson in the 1st quarter worth $52,000. Finally, Capital A Wealth Management LLC bought a new stake in shares of Johnson & Johnson in the 4th quarter worth $50,000. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Johnson & Johnson Price Performance

Shares of Johnson & Johnson stock traded up $2.04 on Friday, reaching $176.76. The stock had a trading volume of 9,476,237 shares, compared to its average volume of 8,427,234. Johnson & Johnson has a 1 year low of $140.68 and a 1 year high of $177.27. The company has a market cap of $425.70 billion, a P/E ratio of 18.90, a price-to-earnings-growth ratio of 2.23 and a beta of 0.41. The company has a current ratio of 1.01, a quick ratio of 0.76 and a debt-to-equity ratio of 0.50. The business's 50 day moving average is $161.28 and its two-hundred day moving average is $158.34.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last announced its quarterly earnings results on Wednesday, July 16th. The company reported $2.77 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to the consensus estimate of $22.85 billion. During the same period in the prior year, the firm posted $2.82 earnings per share. The company's revenue for the quarter was up 5.8% on a year-over-year basis. As a group, research analysts anticipate that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Announces Dividend

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

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on JNJ shares. Barclays upped 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 note on Thursday, July 17th. Piper Sandler reiterated an "overweight" rating on shares of Johnson & Johnson in a research note on Thursday, July 17th. Bank of America boosted their price target on shares of Johnson & Johnson from $161.00 to $175.00 and gave the stock a "neutral" rating in a report on Thursday, July 17th. UBS Group boosted their price target on shares of Johnson & Johnson from $180.00 to $190.00 and gave the stock a "buy" rating in a report on Thursday, July 17th. Finally, Morgan Stanley boosted their price target on shares of Johnson & Johnson from $171.00 to $176.00 and gave the stock an "equal weight" rating in a report on Thursday, July 17th. Nine investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Johnson & Johnson 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.