McGinn Penninger Investment Management Inc. Buys 375 Shares of Johnson & Johnson (NYSE:JNJ)

McGinn Penninger Investment Management Inc. increased its position in Johnson & Johnson (NYSE:JNJ) by 1.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 28,032 shares of the company’s stock after acquiring an additional 375 shares during the quarter. Johnson & Johnson comprises about 3.0% of McGinn Penninger Investment Management Inc.’s holdings, making the stock its 16th biggest holding. McGinn Penninger Investment Management Inc.’s holdings in Johnson & Johnson were worth $4,649,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. MRP Capital Investments LLC raised its holdings in shares of Johnson & Johnson by 4.1% during the fourth quarter. MRP Capital Investments LLC now owns 1,640 shares of the company’s stock worth $237,000 after purchasing an additional 65 shares during the last quarter. Syverson Strege & Co grew its position in Johnson & Johnson by 4.9% during the 4th quarter. Syverson Strege & Co now owns 1,394 shares of the company’s stock worth $202,000 after purchasing an additional 65 shares during the period. Sage Mountain Advisors LLC grew its position in Johnson & Johnson by 0.5% during the 4th quarter. Sage Mountain Advisors LLC now owns 14,564 shares of the company’s stock worth $2,106,000 after purchasing an additional 67 shares during the period. Sovereign Financial Group Inc. lifted its holdings in shares of 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 period. Finally, Nabity Jensen Investment Management Inc lifted its holdings in shares of Johnson & Johnson by 1.5% in the 1st quarter. Nabity Jensen Investment Management Inc now owns 4,624 shares of the company’s stock valued at $767,000 after buying an additional 69 shares during the period. Institutional investors own 69.55% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on JNJ. Leerink Partners cut Johnson & Johnson from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $169.00 to $153.00 in a research report on Tuesday, May 13th. Benchmark raised shares of Johnson & Johnson to a “strong-buy” rating in a research note on Thursday, April 24th. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Johnson & Johnson in a report on Wednesday, April 16th. Barclays lowered their price target on shares of Johnson & Johnson from $166.00 to $165.00 and set an “equal weight” rating on the stock in a report on Thursday, April 17th. Finally, Raymond James Financial cut their price objective on shares of Johnson & Johnson from $165.00 to $162.00 and set an “outperform” rating for the company in a report on Monday, April 14th. Eleven analysts have rated the stock with a hold rating, seven have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $170.88.

Johnson & Johnson Trading Up 0.2%

JNJ stock opened at $155.90 on Friday. Johnson & Johnson has a 12-month low of $140.68 and a 12-month high of $169.99. The business’s 50-day moving average is $153.65 and its 200 day moving average is $153.96. The company has a current ratio of 1.26, a quick ratio of 1.03 and a debt-to-equity ratio of 0.49. The stock has a market cap of $375.11 billion, a price-to-earnings ratio of 17.34, a PEG ratio of 2.35 and a beta of 0.41.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings results on Tuesday, April 15th. The company reported $2.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.59 by $0.18. Johnson & Johnson had a return on equity of 33.46% and a net margin of 24.42%. The firm had revenue of $21.89 billion for the quarter, compared to analyst estimates of $21.65 billion. On average, sell-side analysts anticipate that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Tuesday, May 27th were given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.34%. This is a boost from Johnson & Johnson’s previous quarterly dividend of $1.24. The ex-dividend date of this dividend was Tuesday, May 27th. Johnson & Johnson’s dividend payout ratio is 57.84%.

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.