Agate Pass Investment Management LLC Boosts Stake in Johnson & Johnson (NYSE:JNJ)

Agate Pass Investment Management LLC grew its stake in Johnson & Johnson (NYSE:JNJ) by 2.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,467 shares of the company’s stock after buying an additional 445 shares during the period. Johnson & Johnson accounts for 1.8% of Agate Pass Investment Management LLC’s holdings, making the stock its 16th biggest position. Agate Pass Investment Management LLC’s holdings in Johnson & Johnson were worth $3,396,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in JNJ. 4J Wealth Management LLC raised its position in Johnson & Johnson by 2.2% during the 4th quarter. 4J Wealth Management LLC now owns 2,835 shares of the company’s stock worth $444,000 after buying an additional 62 shares during the last quarter. My Personal CFO LLC raised its position in Johnson & Johnson by 1.4% during the 4th quarter. My Personal CFO LLC now owns 4,550 shares of the company’s stock worth $713,000 after buying an additional 62 shares during the last quarter. Eagle Strategies LLC raised its position in Johnson & Johnson by 1.8% during the 4th quarter. Eagle Strategies LLC now owns 3,589 shares of the company’s stock worth $563,000 after buying an additional 63 shares during the last quarter. Clearview Wealth Advisors LLC raised its position in Johnson & Johnson by 1.5% during the 4th quarter. Clearview Wealth Advisors LLC now owns 4,373 shares of the company’s stock worth $685,000 after buying an additional 64 shares during the last quarter. Finally, Brookmont Capital Management raised its position in Johnson & Johnson by 0.4% during the 4th quarter. Brookmont Capital Management now owns 14,852 shares of the company’s stock worth $2,328,000 after buying an additional 64 shares during the last quarter. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on JNJ. StockNews.com downgraded shares of Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 22nd. The Goldman Sachs Group initiated coverage on shares of Johnson & Johnson in a report on Thursday, May 30th. They issued a “neutral” rating and a $160.00 price target for the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $175.00 price target on shares of Johnson & Johnson in a report on Monday, June 17th. Morgan Stanley cut their price target on shares of Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating for the company in a report on Wednesday, April 17th. Finally, HSBC upgraded shares of Johnson & Johnson from a “hold” rating to a “buy” rating and increased their price target for the company from $169.00 to $170.00 in a report on Thursday, April 18th. Eight analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $174.07.

Johnson & Johnson Trading Down 0.7 %

NYSE JNJ opened at $145.82 on Friday. Johnson & Johnson has a one year low of $143.13 and a one year high of $175.97. The company’s 50 day moving average price is $148.17 and its 200 day moving average price is $154.19. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.94 and a current ratio of 1.17. The firm has a market capitalization of $350.94 billion, a price-to-earnings ratio of 9.09, a PEG ratio of 2.44 and a beta of 0.53.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings data on Tuesday, April 16th. The company reported $2.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.64 by $0.07. The company had revenue of $21.38 billion for the quarter, compared to analyst estimates of $21.39 billion. Johnson & Johnson had a net margin of 45.26% and a return on equity of 36.70%. The business’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter last year, the firm posted $2.68 earnings per share. On average, sell-side analysts predict that Johnson & Johnson will post 10.62 EPS for the current year.

Johnson & Johnson Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 21st were paid a dividend of $1.24 per share. The ex-dividend date of this dividend was Monday, May 20th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.40%. This is a positive change from Johnson & Johnson’s previous quarterly dividend of $1.19. Johnson & Johnson’s dividend payout ratio (DPR) is currently 30.92%.

Johnson & Johnson Company Profile

Johnson & Johnson, together with its subsidiaries, researches, develops, manufactures, and sells various products in the healthcare field worldwide. The company's Innovative Medicine segment offers products for various therapeutic areas, such as immunology, including rheumatoid arthritis, psoriatic arthritis, inflammatory bowel disease, and psoriasis; infectious diseases comprising HIV/AIDS; neuroscience, consisting of mood disorders, neurodegenerative disorders, and schizophrenia; oncology, such as prostate cancer, hematologic malignancies, lung cancer, and bladder cancer; cardiovascular and metabolism, including thrombosis, diabetes, and macular degeneration; and pulmonary hypertension comprising pulmonary arterial hypertension through retailers, wholesalers, distributors, hospitals, and healthcare professionals for prescription use.