Pine Harbor Wealth Management LLC Acquires 64 Shares of Johnson & Johnson (NYSE:JNJ)

Pine Harbor Wealth Management LLC grew its position in shares of Johnson & Johnson (NYSE:JNJ) by 1.9% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,472 shares of the company’s stock after buying an additional 64 shares during the quarter. Pine Harbor Wealth Management LLC’s holdings in Johnson & Johnson were worth $507,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Norges Bank bought a new stake in shares of Johnson & Johnson in the 4th quarter worth approximately $4,071,642,000. Wellington Management Group LLP raised its holdings in shares of Johnson & Johnson by 16.4% in the 4th quarter. Wellington Management Group LLP now owns 24,019,725 shares of the company’s stock worth $3,764,852,000 after purchasing an additional 3,391,657 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of Johnson & Johnson by 16.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 21,834,359 shares of the company’s stock worth $3,453,978,000 after purchasing an additional 3,139,499 shares during the period. Ninety One UK Ltd grew its stake in Johnson & Johnson by 59.0% in the 2nd quarter. Ninety One UK Ltd now owns 6,708,943 shares of the company’s stock valued at $980,579,000 after buying an additional 2,489,925 shares in the last quarter. Finally, Swedbank AB purchased a new position in Johnson & Johnson in the 1st quarter valued at approximately $331,178,000. Institutional investors own 69.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on JNJ shares. TD Cowen reduced their price objective on shares of Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating for the company in a research note on Thursday, July 18th. Daiwa America lowered shares of Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. 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 Tuesday, July 30th. Morgan Stanley boosted their price target on shares of Johnson & Johnson from $167.00 to $169.00 and gave the company an “equal weight” rating in a research report on Thursday, July 18th. Finally, StockNews.com upgraded shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Seven analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $173.21.

Johnson & Johnson Stock Performance

Johnson & Johnson stock opened at $165.52 on Monday. The company has a quick ratio of 0.85, a current ratio of 1.07 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $398.45 billion, a PE ratio of 10.32, a P/E/G ratio of 2.71 and a beta of 0.53. The firm has a fifty day simple moving average of $159.55 and a two-hundred day simple moving average of $153.94. Johnson & Johnson has a twelve month low of $143.13 and a twelve month high of $168.85.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings results on Wednesday, July 17th. The company reported $2.82 earnings per share for the quarter, topping the consensus estimate of $2.71 by $0.11. The business had revenue of $22.45 billion during the quarter, compared to the consensus estimate of $22.33 billion. Johnson & Johnson had a net margin of 46.34% and a return on equity of 36.60%. The firm’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same period in the previous year, the firm posted $2.80 earnings per share. Research analysts expect that Johnson & Johnson will post 10.02 EPS for the current year.

Johnson & Johnson Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 27th were paid a $1.24 dividend. This represents a $4.96 annualized dividend and a yield of 3.00%. The ex-dividend date of this dividend was Tuesday, August 27th. Johnson & Johnson’s dividend payout ratio is presently 30.92%.

Insiders Place Their Bets

In other news, VP Robert J. Decker sold 5,635 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $165.06, for a total transaction of $930,113.10. Following the completion of the transaction, the vice president now directly owns 18,973 shares of the company’s stock, valued at $3,131,683.38. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.16% of the stock is currently owned by 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.