Brookmont Capital Management Acquires 195 Shares of Johnson & Johnson (NYSE:JNJ)

Brookmont Capital Management raised its holdings in Johnson & Johnson (NYSE:JNJ) by 1.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 15,047 shares of the company’s stock after buying an additional 195 shares during the period. Johnson & Johnson accounts for about 1.3% of Brookmont Capital Management’s portfolio, making the stock its 27th largest holding. Brookmont Capital Management’s holdings in Johnson & Johnson were worth $2,380,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Keener Financial Planning LLC bought a new position in shares of Johnson & Johnson in the 4th quarter valued at about $40,000. WFA Asset Management Corp grew its holdings in Johnson & Johnson by 61.4% during the fourth quarter. WFA Asset Management Corp now owns 255 shares of the company’s stock worth $40,000 after purchasing an additional 97 shares during the period. Vermillion & White Wealth Management Group LLC acquired a new position in Johnson & Johnson during the fourth quarter worth approximately $44,000. Disciplined Equity Management Inc. acquired a new stake in shares of Johnson & Johnson in the fourth quarter valued at approximately $45,000. Finally, Grayhawk Investment Strategies Inc. boosted its stake in shares of Johnson & Johnson by 528.6% during the 4th quarter. Grayhawk Investment Strategies Inc. now owns 308 shares of the company’s stock worth $48,000 after acquiring an additional 259 shares during the period. 69.55% of the stock is owned by institutional investors.

Johnson & Johnson Stock Performance

NYSE:JNJ opened at $146.16 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.94 and a current ratio of 1.17. Johnson & Johnson has a fifty-two week low of $143.13 and a fifty-two week high of $175.97. The company has a market cap of $351.76 billion, a price-to-earnings ratio of 9.11, a PEG ratio of 2.43 and a beta of 0.53. The stock has a fifty day moving average price of $148.14 and a 200-day moving average price of $154.07.

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

Johnson & Johnson Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 4th. Shareholders 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 is a boost from Johnson & Johnson’s previous quarterly dividend of $1.19. This represents a $4.96 annualized dividend and a yield of 3.39%. Johnson & Johnson’s dividend payout ratio is presently 30.92%.

Analyst Ratings Changes

A number of research firms recently weighed in on JNJ. HSBC upgraded 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 research note on Thursday, April 18th. Cantor Fitzgerald restated an “overweight” rating and set a $215.00 target price on shares of Johnson & Johnson in a research note on Thursday, June 20th. Morgan Stanley decreased their price target on shares of Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 17th. StockNews.com cut Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 22nd. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $175.00 target price on shares of Johnson & Johnson in a research note on Monday, June 17th. Eight investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $174.07.

About Johnson & Johnson

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.