Johnson & Johnson (NYSE:JNJ) Shares Bought by Inspire Trust Co. N.A.

Inspire Trust Co. N.A. grew its stake in shares of Johnson & Johnson (NYSE:JNJ) by 5.4% in the first quarter, HoldingsChannel reports. The fund owned 29,500 shares of the company’s stock after buying an additional 1,500 shares during the quarter. Johnson & Johnson makes up about 1.2% of Inspire Trust Co. N.A.’s portfolio, making the stock its 21st largest position. Inspire Trust Co. N.A.’s holdings in Johnson & Johnson were worth $4,892,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Waypoint Wealth Partners Inc. increased its position in Johnson & Johnson by 11.8% during the 1st quarter. Waypoint Wealth Partners Inc. now owns 12,093 shares of the company’s stock worth $2,005,000 after purchasing an additional 1,273 shares in the last quarter. Kovitz Investment Group Partners LLC increased its position in Johnson & Johnson by 33.2% during the 1st quarter. Kovitz Investment Group Partners LLC now owns 460,924 shares of the company’s stock worth $76,440,000 after purchasing an additional 114,908 shares in the last quarter. Cookson Peirce & Co. Inc. acquired a new stake in Johnson & Johnson during the 1st quarter worth approximately $208,000. Vestmark Advisory Solutions Inc. increased its position in Johnson & Johnson by 143.7% during the 1st quarter. Vestmark Advisory Solutions Inc. now owns 81,230 shares of the company’s stock worth $13,471,000 after purchasing an additional 47,895 shares in the last quarter. Finally, Lord Abbett & CO. LLC increased its position in Johnson & Johnson by 63.8% during the 1st quarter. Lord Abbett & CO. LLC now owns 706,099 shares of the company’s stock worth $117,099,000 after purchasing an additional 274,905 shares in the last quarter. Institutional investors and hedge funds own 69.55% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on JNJ shares. Leerink Partnrs downgraded shares of Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 13th. Benchmark raised shares of Johnson & Johnson to a “strong-buy” rating in a research report on Thursday, April 24th. Royal Bank Of Canada increased their price objective on shares of Johnson & Johnson from $181.00 to $185.00 and gave the company an “outperform” rating in a research report on Thursday, July 17th. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Johnson & Johnson in a research report on Wednesday, April 16th. Finally, Guggenheim reaffirmed a “neutral” rating and issued a $167.00 price objective (up previously from $164.00) on shares of Johnson & Johnson in a research report on Thursday, July 17th. Nine investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $174.50.

Johnson & Johnson Stock Up 0.9%

JNJ stock opened at $174.29 on Thursday. Johnson & Johnson has a twelve month low of $140.68 and a twelve month high of $174.76. The company has a current ratio of 1.01, a quick ratio of 0.76 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $419.75 billion, a P/E ratio of 18.64, a PEG ratio of 2.20 and a beta of 0.41. The firm has a 50 day simple moving average of $160.42 and a 200-day simple moving average of $158.01.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings results on Wednesday, July 16th. The company reported $2.77 earnings per share for the quarter, topping analysts’ consensus estimates of $2.68 by $0.09. Johnson & Johnson had a net margin of 25.00% and a return on equity of 32.49%. The business had revenue of $23.74 billion during the quarter, compared to the consensus estimate of $22.85 billion. During the same quarter last year, the company earned $2.82 earnings per share. The business’s quarterly revenue was up 5.8% compared to the same quarter last year. On average, equities research analysts predict that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 9th. Investors of record on Tuesday, August 26th will be paid a dividend of $1.30 per share. The ex-dividend date is Tuesday, August 26th. This represents a $5.20 annualized dividend and a yield of 3.0%. Johnson & Johnson’s dividend payout ratio (DPR) is 55.61%.

Johnson & Johnson Company Profile

Johnson & Johnson is a holding company, which engages in the research, development, manufacture, and sale of products in the healthcare field. It operates through the Innovative Medicine and MedTech segments. The Innovative Medicine segment focuses on immunology, infectious diseases, neuroscience, oncology, cardiovascular and metabolism, and pulmonary hypertension.