Graypoint LLC Has $2.53 Million Stake in Johnson & Johnson (NYSE:JNJ)

Graypoint LLC lowered its stake in shares of Johnson & Johnson (NYSE:JNJ) by 16.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,280 shares of the company’s stock after selling 3,339 shares during the quarter. Graypoint LLC’s holdings in Johnson & Johnson were worth $2,526,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. GUNN & Co INVESTMENT MANAGEMENT INC. boosted its stake in shares of Johnson & Johnson by 1,194.9% during the fourth quarter. GUNN & Co INVESTMENT MANAGEMENT INC. now owns 237,273 shares of the company’s stock valued at $37,190,000 after purchasing an additional 218,949 shares in the last quarter. Gilbert & Cook Inc. boosted its position in Johnson & Johnson by 3.3% during the 4th quarter. Gilbert & Cook Inc. now owns 9,111 shares of the company’s stock worth $1,428,000 after buying an additional 288 shares during the period. Altrius Capital Management Inc grew its holdings in Johnson & Johnson by 0.7% during the 4th quarter. Altrius Capital Management Inc now owns 22,597 shares of the company’s stock worth $3,542,000 after acquiring an additional 147 shares during the last quarter. Steele Capital Management Inc. bought a new position in shares of Johnson & Johnson during the fourth quarter valued at $305,000. Finally, LWM Advisory Services LLC lifted its holdings in shares of Johnson & Johnson by 3.5% during the fourth quarter. LWM Advisory Services LLC now owns 2,200 shares of the company’s stock worth $345,000 after purchasing an additional 75 shares during the period. Institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Stock Performance

Shares of JNJ opened at $165.86 on Monday. The stock has a 50-day moving average of $155.68 and a 200-day moving average of $153.47. Johnson & Johnson has a one year low of $143.13 and a one year high of $165.98. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.07 and a quick ratio of 0.85. The company has a market cap of $399.26 billion, a PE ratio of 10.34, a P/E/G ratio of 2.73 and a beta of 0.52.

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

Johnson & Johnson Announces Dividend

The firm also recently disclosed 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. This represents a $4.96 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date is Tuesday, August 27th. Johnson & Johnson’s dividend payout ratio (DPR) is 30.92%.

Wall Street Analysts Forecast Growth

JNJ has been the topic of several recent research reports. The Goldman Sachs Group cut their target price on Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating on the stock in a report on Friday, July 19th. Royal Bank of Canada reaffirmed 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 raised their price target on shares of Johnson & Johnson from $167.00 to $169.00 and gave the stock an “equal weight” rating in a report on Thursday, July 18th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $215.00 price objective on shares of Johnson & Johnson in a research note on Monday, August 5th. Finally, StockNews.com raised shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 16th. Seven equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $173.21.

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.