Graypoint LLC Buys 5,108 Shares of Johnson & Johnson (NYSE:JNJ)

Graypoint LLC boosted its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 28.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,338 shares of the company’s stock after purchasing 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 SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Brighton Jones LLC increased its stake in shares of Johnson & Johnson by 13.9% in the 4th quarter. Brighton Jones LLC now owns 51,876 shares of the company’s stock valued at $7,502,000 after buying an additional 6,332 shares during the period. Hudson Value Partners LLC increased its stake in shares of Johnson & Johnson by 2.5% in the 4th quarter. Hudson Value Partners LLC now owns 41,403 shares of the company’s stock valued at $5,648,000 after buying an additional 1,022 shares during the period. Proficio Capital Partners LLC increased its stake in shares of Johnson & Johnson by 22.0% in the 4th quarter. Proficio Capital Partners LLC now owns 19,951 shares of the company’s stock valued at $2,885,000 after buying an additional 3,594 shares during the period. Horizon Investments LLC increased its stake in shares of Johnson & Johnson by 10.1% in the 4th quarter. Horizon Investments LLC now owns 25,627 shares of the company’s stock valued at $3,706,000 after buying an additional 2,361 shares during the period. Finally, Brooklyn FI LLC increased its stake in shares of Johnson & Johnson by 6,239.7% in the 4th quarter. Brooklyn FI LLC now owns 127,682 shares of the company’s stock valued at $19,795,000 after buying an additional 125,668 shares during the period. 69.55% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

JNJ has been the subject of several research reports. Royal Bank Of Canada reissued an “outperform” rating and issued a $181.00 target price on shares of Johnson & Johnson in a research note on Thursday, June 5th. Bank of America decreased their price objective on Johnson & Johnson from $171.00 to $159.00 and set a “neutral” rating for the company in a research note on Thursday, April 10th. Raymond James Financial decreased their price objective on Johnson & Johnson from $165.00 to $162.00 and set an “outperform” rating for the company in a research note on Monday, April 14th. Leerink Partnrs cut Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 13th. Finally, Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Johnson & Johnson in a research note on Wednesday, April 16th. Eleven equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $171.00.

Johnson & Johnson Stock Up 6.2%

Shares of JNJ stock opened at $164.78 on Thursday. The firm has a fifty day moving average of $153.95 and a 200-day moving average of $154.71. The company has a quick ratio of 1.03, a current ratio of 1.26 and a debt-to-equity ratio of 0.49. Johnson & Johnson has a 12-month low of $140.68 and a 12-month high of $169.99. The company has a market capitalization of $396.47 billion, a price-to-earnings ratio of 18.33, a P/E/G ratio of 2.12 and a beta of 0.41.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings results on Wednesday, July 16th. The company reported $2.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.68 by $0.09. The firm had revenue of $23.74 billion for the quarter, compared to the consensus estimate of $22.85 billion. Johnson & Johnson had a return on equity of 33.46% and a net margin of 24.42%. The company’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter last year, the business posted $2.82 EPS. As a group, equities research analysts predict that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 9th. Shareholders of record on Tuesday, August 26th will be paid a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 3.16%. Johnson & Johnson’s payout ratio is 57.84%.

Johnson & Johnson 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.