Griffin Asset Management Inc. Has $12.57 Million Stake in Johnson & Johnson (NYSE:JNJ)

Griffin Asset Management Inc. grew its stake in shares of Johnson & Johnson (NYSE:JNJ) by 0.5% in the first quarter, Holdings Channel reports. The institutional investor owned 79,488 shares of the company’s stock after purchasing an additional 400 shares during the period. Johnson & Johnson accounts for approximately 1.5% of Griffin Asset Management Inc.’s holdings, making the stock its 17th biggest position. Griffin Asset Management Inc.’s holdings in Johnson & Johnson were worth $12,574,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Pathway Financial Advisors LLC increased its stake in Johnson & Johnson by 4.3% in the fourth quarter. Pathway Financial Advisors LLC now owns 5,438 shares of the company’s stock valued at $852,000 after acquiring an additional 226 shares during the period. Daiwa Securities Group Inc. grew its stake in shares of Johnson & Johnson by 5.5% in the 4th quarter. Daiwa Securities Group Inc. now owns 297,850 shares of the company’s stock valued at $46,685,000 after purchasing an additional 15,490 shares during the period. OneAscent Financial Services LLC raised its holdings in shares of Johnson & Johnson by 82.8% in the 4th quarter. OneAscent Financial Services LLC now owns 9,838 shares of the company’s stock worth $1,542,000 after buying an additional 4,457 shares in the last quarter. Vestmark Advisory Solutions Inc. lifted its position in shares of Johnson & Johnson by 12.7% during the 4th quarter. Vestmark Advisory Solutions Inc. now owns 19,587 shares of the company’s stock worth $3,070,000 after buying an additional 2,201 shares during the period. Finally, TrueMark Investments LLC acquired a new stake in Johnson & Johnson in the 4th quarter valued at $1,458,000. Institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Price Performance

Shares of JNJ stock opened at $146.16 on Friday. The firm 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. Johnson & Johnson has a 12 month low of $143.13 and a 12 month high of $175.97. The company has a quick ratio of 0.94, a current ratio of 1.17 and a debt-to-equity ratio of 0.36. The stock has a 50-day moving average price of $148.14 and a 200 day moving average price of $154.06.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings results on Tuesday, April 16th. The company reported $2.71 EPS for the quarter, topping the consensus estimate of $2.64 by $0.07. Johnson & Johnson had a net margin of 45.26% and a return on equity of 36.70%. The company had revenue of $21.38 billion during the quarter, compared to analysts’ expectations of $21.39 billion. During the same quarter in the previous year, the company earned $2.68 EPS. Johnson & Johnson’s revenue was up 2.3% on a year-over-year basis. Research analysts expect that Johnson & Johnson will post 10.62 EPS for the current year.

Johnson & Johnson Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 21st were given a $1.24 dividend. This is a positive change from Johnson & Johnson’s previous quarterly dividend of $1.19. This represents a $4.96 annualized dividend and a dividend yield of 3.39%. The ex-dividend date of this dividend was Monday, May 20th. Johnson & Johnson’s dividend payout ratio (DPR) is currently 30.92%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on JNJ. Royal Bank of Canada reissued an “outperform” rating and set a $175.00 price objective on shares of Johnson & Johnson in a report on Monday, June 17th. Cantor Fitzgerald restated an “overweight” rating and issued a $215.00 price target on shares of Johnson & Johnson in a research report on Thursday, June 20th. The Goldman Sachs Group assumed coverage on shares of Johnson & Johnson in a report on Thursday, May 30th. They set a “neutral” rating and a $160.00 price objective for the company. Morgan Stanley reduced their target price on Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 17th. Finally, HSBC raised Johnson & Johnson from a “hold” rating to a “buy” rating and raised their price target for the company from $169.00 to $170.00 in a report on Thursday, April 18th. Eight equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price 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.