Rockport Wealth LLC Buys New Stake in Johnson & Johnson (NYSE:JNJ)

Rockport Wealth LLC bought a new stake in Johnson & Johnson (NYSE:JNJ) in the 1st quarter, according to its most recent filing with the SEC. The fund bought 1,974 shares of the company’s stock, valued at approximately $312,000.

Several other large investors have also recently made changes to their positions in the company. Lcnb Corp raised its position in Johnson & Johnson by 0.6% during the first quarter. Lcnb Corp now owns 14,938 shares of the company’s stock worth $2,363,000 after acquiring an additional 84 shares during the period. Trustmark National Bank Trust Department raised its position in Johnson & Johnson by 4.7% during the first quarter. Trustmark National Bank Trust Department now owns 11,530 shares of the company’s stock worth $1,824,000 after acquiring an additional 513 shares during the period. Covestor Ltd grew its holdings in shares of Johnson & Johnson by 49.7% during the first quarter. Covestor Ltd now owns 1,989 shares of the company’s stock worth $314,000 after buying an additional 660 shares in the last quarter. Beaumont Financial Advisors LLC grew its holdings in shares of Johnson & Johnson by 0.4% during the first quarter. Beaumont Financial Advisors LLC now owns 132,036 shares of the company’s stock worth $20,887,000 after buying an additional 555 shares in the last quarter. Finally, Catalytic Wealth RIA LLC grew its holdings in shares of Johnson & Johnson by 25.6% during the first quarter. Catalytic Wealth RIA LLC now owns 15,772 shares of the company’s stock worth $2,495,000 after buying an additional 3,215 shares in the last quarter. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Johnson & Johnson Stock Down 1.2 %

NYSE:JNJ traded down $1.89 during mid-day trading on Tuesday, hitting $152.35. The stock had a trading volume of 6,250,523 shares, compared to its average volume of 7,324,319. The company has a market capitalization of $366.66 billion, a PE ratio of 9.47, a PEG ratio of 2.85 and a beta of 0.52. Johnson & Johnson has a twelve month low of $143.13 and a twelve month high of $175.97. The company has a current ratio of 1.17, a quick ratio of 0.94 and a debt-to-equity ratio of 0.36. The stock has a 50-day simple moving average of $148.42 and a two-hundred day simple moving average of $153.24.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings results on Wednesday, July 17th. The company reported $2.82 EPS for the quarter, beating the consensus estimate of $2.71 by $0.11. The company had revenue of $22.45 billion for the quarter, compared to analyst estimates of $22.33 billion. Johnson & Johnson had a net margin of 46.34% and a return on equity of 36.79%. The firm’s revenue was up 4.3% on a year-over-year basis. During the same period in the prior year, the firm posted $2.80 earnings per share. On average, equities research analysts anticipate that Johnson & Johnson will post 10.07 EPS for the current year.

Johnson & Johnson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 27th will be paid a $1.24 dividend. The ex-dividend date of this dividend is Tuesday, August 27th. This represents a $4.96 annualized dividend and a yield of 3.26%. Johnson & Johnson’s dividend payout ratio is currently 30.92%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on JNJ. HSBC raised shares of Johnson & Johnson from a “hold” rating to a “buy” rating and upped their target price for the stock from $169.00 to $170.00 in a report on Thursday, April 18th. Morgan Stanley upped their price objective on shares of Johnson & Johnson from $167.00 to $169.00 and gave the company an “equal weight” rating in a report on Thursday, July 18th. Sanford C. Bernstein upped their price objective on shares of Johnson & Johnson from $161.00 to $171.00 in a report on Thursday, July 18th. Bank of America dropped their price objective on shares of Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating for the company in a report on Wednesday, April 17th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $175.00 price objective on shares of Johnson & Johnson in a report on Thursday, July 18th. Seven research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $173.00.

Johnson & Johnson 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.