Norwood Financial Corp Raises Stake in Johnson & Johnson (NYSE:JNJ)

Norwood Financial Corp boosted its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 2.6% during the 1st quarter, HoldingsChannel reports. The firm owned 6,459 shares of the company’s stock after purchasing an additional 165 shares during the period. Johnson & Johnson accounts for approximately 1.5% of Norwood Financial Corp’s investment portfolio, making the stock its 13th biggest holding. Norwood Financial Corp’s holdings in Johnson & Johnson were worth $1,022,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Gallagher Fiduciary Advisors LLC lifted its stake in shares of Johnson & Johnson by 18.9% in the 3rd quarter. Gallagher Fiduciary Advisors LLC now owns 2,577 shares of the company’s stock worth $401,000 after acquiring an additional 409 shares during the period. New England Asset Management Inc. lifted its stake in shares of Johnson & Johnson by 11.3% in the 3rd quarter. New England Asset Management Inc. now owns 46,936 shares of the company’s stock worth $7,310,000 after acquiring an additional 4,750 shares during the period. Gateway Advisory LLC lifted its stake in shares of Johnson & Johnson by 179.4% in the 3rd quarter. Gateway Advisory LLC now owns 17,794 shares of the company’s stock worth $2,771,000 after acquiring an additional 11,425 shares during the period. Wahed Invest LLC lifted its stake in shares of Johnson & Johnson by 2.2% in the 3rd quarter. Wahed Invest LLC now owns 38,183 shares of the company’s stock worth $5,947,000 after acquiring an additional 805 shares during the period. Finally, Axxcess Wealth Management LLC lifted its stake in shares of Johnson & Johnson by 71.8% in the third quarter. Axxcess Wealth Management LLC now owns 66,481 shares of the company’s stock valued at $10,354,000 after purchasing an additional 27,795 shares during the period. 69.55% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $175.00 price objective on shares of Johnson & Johnson in a research note on Monday, June 17th. HSBC upgraded shares of Johnson & Johnson from a “hold” rating to a “buy” rating and raised their price objective for the company from $169.00 to $170.00 in a research note on Thursday, April 18th. Morgan Stanley reduced their price objective on shares of Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 17th. Bank of America reduced their price objective on shares of Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating for the company in a research note on Wednesday, April 17th. Finally, StockNews.com cut shares of Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 22nd. Eight analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $174.07.

Johnson & Johnson Stock Performance

Shares of NYSE JNJ opened at $146.16 on Friday. The company has a market cap of $351.76 billion, a PE ratio of 9.11, a price-to-earnings-growth ratio of 2.43 and a beta of 0.53. Johnson & Johnson has a 12 month low of $143.13 and a 12 month high of $175.97. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.17 and a quick ratio of 0.94. The company has a 50-day simple moving average of $148.14 and a 200-day simple moving average of $154.07.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings results on Tuesday, April 16th. The company reported $2.71 EPS for the quarter, topping analysts’ consensus estimates of $2.64 by $0.07. The business had revenue of $21.38 billion during 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 company’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.68 earnings per share. On average, equities analysts anticipate that Johnson & Johnson will post 10.62 earnings per share for the current year.

Johnson & Johnson Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 4th. Investors of record on Tuesday, May 21st were issued a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a yield of 3.39%. This is an increase from Johnson & Johnson’s previous quarterly dividend of $1.19. The ex-dividend date was Monday, May 20th. Johnson & Johnson’s payout ratio is presently 30.92%.

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.