Shorepoint Capital Partners LLC Buys New Position in Johnson & Johnson $JNJ

Shorepoint Capital Partners LLC purchased a new stake in Johnson & Johnson (NYSE:JNJ) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 34,701 shares of the company’s stock, valued at approximately $6,434,000. Johnson & Johnson makes up about 1.3% of Shorepoint Capital Partners LLC’s investment portfolio, making the stock its 27th largest holding.

Several other hedge funds have also bought and sold shares of JNJ. Vanguard Group Inc. lifted its holdings in shares of Johnson & Johnson by 1.3% in the second quarter. Vanguard Group Inc. now owns 237,047,859 shares of the company’s stock valued at $36,209,060,000 after purchasing an additional 3,085,180 shares in the last quarter. Geode Capital Management LLC increased its position in Johnson & Johnson by 2.1% in the second quarter. Geode Capital Management LLC now owns 60,609,476 shares of the company’s stock worth $9,227,988,000 after buying an additional 1,225,676 shares during the last quarter. Norges Bank purchased a new stake in Johnson & Johnson during the second quarter valued at about $4,877,174,000. Northern Trust Corp raised its holdings in Johnson & Johnson by 0.4% during the 1st quarter. Northern Trust Corp now owns 30,943,820 shares of the company’s stock valued at $5,131,723,000 after acquiring an additional 130,645 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in Johnson & Johnson by 2.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 23,802,503 shares of the company’s stock worth $3,635,832,000 after purchasing an additional 620,039 shares during the period. Institutional investors and hedge funds own 69.55% of the company’s stock.

Johnson & Johnson Trading Up 1.3%

Johnson & Johnson stock opened at $214.41 on Tuesday. The firm’s 50 day moving average price is $196.61 and its 200-day moving average price is $177.85. Johnson & Johnson has a 1 year low of $140.68 and a 1 year high of $215.19. The stock has a market cap of $516.58 billion, a P/E ratio of 20.70, a PEG ratio of 2.36 and a beta of 0.36. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.07 and a quick ratio of 0.80.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings data on Wednesday, August 30th. The company reported $2.26 EPS for the quarter. The business had revenue of $24.02 billion during the quarter. Johnson & Johnson had a net margin of 27.26% and a return on equity of 32.73%. On average, equities 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 declared a quarterly dividend, which was paid on Tuesday, December 9th. Stockholders of record on Tuesday, November 25th were paid a dividend of $1.30 per share. The ex-dividend date was Tuesday, November 25th. This represents a $5.20 annualized dividend and a dividend yield of 2.4%. Johnson & Johnson’s dividend payout ratio (DPR) is currently 50.19%.

Wall Street Analysts Forecast Growth

JNJ has been the topic of several research analyst reports. Raymond James Financial upped their price objective on shares of Johnson & Johnson from $174.00 to $209.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 15th. Loop Capital set a $190.00 price target on shares of Johnson & Johnson in a report on Wednesday, October 22nd. Johnson Rice set a $190.00 price target on shares of Johnson & Johnson and gave the company a “hold” rating in a report on Wednesday, October 22nd. Morgan Stanley increased their price objective on Johnson & Johnson from $190.00 to $197.00 and gave the stock an “equal weight” rating in a report on Friday. Finally, Barclays increased their price objective on shares of Johnson & Johnson from $176.00 to $197.00 and gave the company an “equal weight” rating in a research report on Tuesday, December 2nd. Four research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $208.35.

About Johnson & Johnson

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.