Stone Point Wealth LLC Has $662,000 Position in Johnson & Johnson (NYSE:JNJ)

Stone Point Wealth LLC reduced its stake in Johnson & Johnson (NYSE:JNJFree Report) by 7.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,188 shares of the company’s stock after selling 336 shares during the period. Stone Point Wealth LLC’s holdings in Johnson & Johnson were worth $662,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Christopher J. Hasenberg Inc acquired a new position in shares of Johnson & Johnson in the first quarter valued at $31,000. Keener Financial Planning LLC acquired a new position in shares of Johnson & Johnson in the fourth quarter valued at about $40,000. WFA Asset Management Corp grew its stake in shares of Johnson & Johnson by 61.4% in the fourth quarter. WFA Asset Management Corp now owns 255 shares of the company’s stock valued at $40,000 after acquiring an additional 97 shares in the last quarter. Vermillion & White Wealth Management Group LLC acquired a new position in shares of Johnson & Johnson in the fourth quarter valued at about $44,000. Finally, Disciplined Equity Management Inc. acquired a new position in shares of Johnson & Johnson in the fourth quarter valued at about $45,000. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. The Goldman Sachs Group assumed coverage on shares of Johnson & Johnson in a research note on Thursday, May 30th. They set a “neutral” rating and a $160.00 price objective on the stock. HSBC raised shares of Johnson & Johnson from a “hold” rating to a “buy” rating and lifted their price target for the company from $169.00 to $170.00 in a report on Thursday, April 18th. StockNews.com upgraded shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Sunday, June 30th. Royal Bank of Canada reiterated an “outperform” rating and set a $175.00 target price on shares of Johnson & Johnson in a research report on Monday, June 17th. Finally, Bank of America dropped their price target on shares of Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 17th. Eight investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $174.07.

Read Our Latest Stock Analysis on JNJ

Johnson & Johnson Stock Performance

NYSE:JNJ opened at $146.48 on Monday. The company has a fifty day moving average of $147.94 and a 200-day moving average of $153.72. The firm has a market capitalization of $352.53 billion, a P/E ratio of 9.13, a P/E/G ratio of 2.44 and a beta of 0.52. The company has a quick ratio of 0.94, a current ratio of 1.17 and a debt-to-equity ratio of 0.36. Johnson & Johnson has a twelve month low of $143.13 and a twelve month high of $175.97.

Johnson & Johnson (NYSE:JNJGet Free Report) last announced its quarterly earnings results on Tuesday, April 16th. The company reported $2.71 EPS for the quarter, beating analysts’ consensus estimates of $2.64 by $0.07. The business had revenue of $21.38 billion during the quarter, compared to analyst estimates of $21.39 billion. Johnson & Johnson had a net margin of 45.26% and a return on equity of 36.70%. Johnson & Johnson’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.68 EPS. As a group, sell-side analysts anticipate that Johnson & Johnson will post 10.62 EPS for the current year.

Johnson & Johnson Increases Dividend

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

Johnson & Johnson Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Johnson & Johnson (NYSE:JNJ)

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