Pin Oak Investment Advisors Inc. Buys 744 Shares of Johnson & Johnson (NYSE:JNJ)

Pin Oak Investment Advisors Inc. increased its position in Johnson & Johnson (NYSE:JNJ) by 10.8% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 7,639 shares of the company’s stock after acquiring an additional 744 shares during the period. Johnson & Johnson comprises approximately 1.0% of Pin Oak Investment Advisors Inc.’s holdings, making the stock its 23rd largest position. Pin Oak Investment Advisors Inc.’s holdings in Johnson & Johnson were worth $1,342,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Atlantic Family Wealth LLC boosted its holdings in Johnson & Johnson by 4.4% in the 1st quarter. Atlantic Family Wealth LLC now owns 1,603 shares of the company’s stock worth $266,000 after buying an additional 67 shares during the period. MBA Advisors LLC raised its position in Johnson & Johnson by 1.2% in the 1st quarter. MBA Advisors LLC now owns 5,553 shares of the company’s stock worth $921,000 after purchasing an additional 68 shares during the period. Sovereign Financial Group Inc. raised its position in Johnson & Johnson by 1.8% in the 1st quarter. Sovereign Financial Group Inc. now owns 3,928 shares of the company’s stock worth $651,000 after purchasing an additional 69 shares during the period. Nabity Jensen Investment Management Inc raised its position in Johnson & Johnson by 1.5% in the 1st quarter. Nabity Jensen Investment Management Inc now owns 4,624 shares of the company’s stock worth $767,000 after purchasing an additional 69 shares during the period. Finally, Jackson Grant Investment Advisers Inc. raised its position in Johnson & Johnson by 0.5% in the 1st quarter. Jackson Grant Investment Advisers Inc. now owns 12,970 shares of the company’s stock worth $2,151,000 after purchasing an additional 69 shares during the period. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Johnson & Johnson Price Performance

Shares of JNJ opened at $168.29 on Monday. The company has a market cap of $404.92 billion, a price-to-earnings ratio of 18.00, a price-to-earnings-growth ratio of 2.14 and a beta of 0.41. Johnson & Johnson has a twelve month low of $140.68 and a twelve month high of $169.99. The company has a quick ratio of 0.76, a current ratio of 1.01 and a debt-to-equity ratio of 0.50. The company has a 50 day moving average of $156.08 and a two-hundred day moving average of $155.97.

Johnson & Johnson (NYSE:JNJ) last posted 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. The business had revenue of $23.74 billion during the quarter, compared to analysts’ expectations of $22.85 billion. Johnson & Johnson had a net margin of 25.00% and a return on equity of 32.49%. The business’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter last year, the company posted $2.82 earnings per share. As a group, analysts predict that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 9th. Investors of record on Tuesday, August 26th will be issued 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 dividend yield of 3.09%. Johnson & Johnson’s dividend payout ratio (DPR) is presently 55.61%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. The Goldman Sachs Group raised shares of Johnson & Johnson from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $157.00 to $172.00 in a research report on Wednesday, April 9th. Benchmark raised shares of Johnson & Johnson to a “strong-buy” rating in a research report on Thursday, April 24th. Guggenheim upped their target price on shares of Johnson & Johnson from $164.00 to $167.00 and gave the stock a “neutral” rating in a research note on Thursday, July 17th. Wall Street Zen downgraded shares of Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 18th. Finally, Raymond James Financial dropped their target price on shares of Johnson & Johnson from $165.00 to $162.00 and set an “outperform” rating on the stock in a research note on Monday, April 14th. Nine research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Johnson & Johnson currently has an average rating of “Moderate Buy” and an average target price of $174.50.

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.