West Branch Capital LLC Raises Stock Holdings in Johnson & Johnson (NYSE:JNJ)

West Branch Capital LLC lifted its stake in shares of Johnson & Johnson (NYSE:JNJ) by 2.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 24,890 shares of the company’s stock after acquiring an additional 688 shares during the quarter. Johnson & Johnson makes up approximately 1.4% of West Branch Capital LLC’s holdings, making the stock its 18th biggest position. West Branch Capital LLC’s holdings in Johnson & Johnson were worth $4,034,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Innealta Capital LLC bought a new stake in Johnson & Johnson during the second quarter valued at about $27,000. MFA Wealth Advisors LLC bought a new position in shares of Johnson & Johnson during the second quarter worth $43,000. Fairfield Financial Advisors LTD bought a new stake in Johnson & Johnson in the 2nd quarter valued at $46,000. Fairway Wealth LLC lifted its stake in Johnson & Johnson by 217.1% in the 2nd quarter. Fairway Wealth LLC now owns 333 shares of the company’s stock worth $49,000 after purchasing an additional 228 shares in the last quarter. Finally, Quarry LP purchased a new position in shares of Johnson & Johnson during the second quarter valued at about $49,000. 69.55% of the stock is owned by hedge funds and other institutional investors.

Johnson & Johnson Trading Up 0.4 %

Shares of JNJ opened at $165.12 on Monday. The firm has a market capitalization of $397.39 billion, a price-to-earnings ratio of 10.29, a PEG ratio of 2.65 and a beta of 0.52. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.07 and a quick ratio of 0.85. Johnson & Johnson has a 1-year low of $143.13 and a 1-year high of $168.85. The company has a 50-day moving average of $162.98 and a 200 day moving average of $154.69.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings results on Tuesday, October 15th. The company reported $2.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.21 by $0.21. The firm had revenue of $22.47 billion during the quarter, compared to analyst estimates of $22.17 billion. Johnson & Johnson had a return on equity of 36.60% and a net margin of 46.34%. Johnson & Johnson’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.66 earnings per share. On average, research analysts expect that Johnson & Johnson will post 10 EPS for the current year.

Johnson & Johnson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 26th will be issued a $1.24 dividend. The ex-dividend date is Tuesday, November 26th. This represents a $4.96 annualized dividend and a dividend yield of 3.00%. Johnson & Johnson’s payout ratio is currently 30.92%.

Wall Street Analyst Weigh In

JNJ has been the subject of a number of research reports. Royal Bank of Canada increased their price target on Johnson & Johnson from $178.00 to $181.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. TD Cowen lowered their target price on Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating for the company in a research report on Thursday, July 18th. The Goldman Sachs Group reduced their price target on shares of Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating on the stock in a research report on Friday, July 19th. Citigroup increased their price objective on shares of Johnson & Johnson from $180.00 to $185.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $215.00 target price on shares of Johnson & Johnson in a report on Wednesday, October 16th. Six research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Johnson & Johnson presently has a consensus rating of “Moderate Buy” and an average target price of $175.93.

Insiders Place Their Bets

In other news, VP Robert J. Decker sold 5,635 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $165.06, for a total value of $930,113.10. Following the completion of the sale, the vice president now owns 18,973 shares in the company, valued at approximately $3,131,683.38. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.16% of the stock is owned by company insiders.

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.