Archer Investment Corp Raises Stock Holdings in Johnson & Johnson (NYSE:JNJ)

Archer Investment Corp boosted its holdings in Johnson & Johnson (NYSE:JNJ) by 6.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,288 shares of the company’s stock after purchasing an additional 1,061 shares during the quarter. Johnson & Johnson makes up 0.7% of Archer Investment Corp’s portfolio, making the stock its 28th biggest holding. Archer Investment Corp’s holdings in Johnson & Johnson were worth $2,867,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. WealthTrak Capital Management LLC purchased a new position in Johnson & Johnson in the fourth quarter valued at about $26,000. Mountain Hill Investment Partners Corp. acquired a new stake in shares of Johnson & Johnson during the fourth quarter worth $29,000. Conquis Financial LLC purchased a new position in shares of Johnson & Johnson during the fourth quarter valued at $33,000. Bernard Wealth Management Corp. purchased a new position in Johnson & Johnson in the fourth quarter valued at about $36,000. Finally, Runnymede Capital Advisors Inc. acquired a new stake in shares of Johnson & Johnson in the fourth quarter worth about $38,000. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have commented on JNJ. Wall Street Zen raised Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 21st. Raymond James Financial reduced their price target on Johnson & Johnson from $165.00 to $162.00 and set an “outperform” rating on the stock in a research report on Monday, April 14th. UBS Group reaffirmed a “buy” rating and set a $190.00 price objective (up previously from $180.00) on shares of Johnson & Johnson in a research note on Thursday. Guggenheim raised their price objective on Johnson & Johnson from $164.00 to $167.00 and gave the stock a “neutral” rating in a research note on Thursday. Finally, Piper Sandler reaffirmed an “overweight” rating on shares of Johnson & Johnson in a research note on Thursday. Eleven analysts have rated the stock with a hold rating, nine have given a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $174.11.

Johnson & Johnson Stock Performance

Shares of NYSE:JNJ traded up $1.94 during trading on Friday, reaching $164.92. 1,931,532 shares of the stock were exchanged, compared to its average volume of 8,116,206. Johnson & Johnson has a 12 month low of $140.68 and a 12 month high of $169.99. The firm has a market cap of $396.80 billion, a PE ratio of 17.63, a PEG ratio of 2.21 and a beta of 0.41. The stock has a 50-day moving average price of $154.10 and a 200-day moving average price of $154.84. The company has a current ratio of 1.26, a quick ratio of 1.03 and a debt-to-equity ratio of 0.49.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings results on Wednesday, July 16th. The company reported $2.77 earnings per share 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 33.07%. The company had revenue of $23.74 billion during the quarter, compared to the consensus estimate of $22.85 billion. During the same period in the previous year, the business earned $2.82 earnings per share. The firm’s quarterly revenue was up 5.8% on a year-over-year basis. Research analysts expect that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 9th. Shareholders 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 annualized dividend and a yield of 3.15%. Johnson & Johnson’s dividend payout ratio is currently 55.61%.

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.