Pin Oak Investment Advisors Inc. Boosts Stock Holdings in Johnson & Johnson $JNJ

Pin Oak Investment Advisors Inc. raised its stake in Johnson & Johnson (NYSE:JNJ) by 3.7% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,919 shares of the company’s stock after purchasing an additional 280 shares during the quarter. Johnson & Johnson comprises approximately 1.1% of Pin Oak Investment Advisors Inc.’s holdings, making the stock its 22nd biggest holding. Pin Oak Investment Advisors Inc.’s holdings in Johnson & Johnson were worth $1,313,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. GFG Capital LLC purchased a new stake in Johnson & Johnson during the second quarter valued at about $35,000. Stone House Investment Management LLC acquired a new position in shares of Johnson & Johnson in the 1st quarter valued at about $47,000. 1248 Management LLC purchased a new stake in shares of Johnson & Johnson during the 1st quarter worth about $48,000. Harvest Fund Management Co. Ltd acquired a new stake in Johnson & Johnson during the 1st quarter worth approximately $52,000. Finally, Pandora Wealth Inc. purchased a new position in Johnson & Johnson in the first quarter valued at approximately $65,000. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently issued reports on JNJ. HSBC increased their price objective on shares of Johnson & Johnson from $210.00 to $215.00 and gave the stock a “buy” rating in a research report on Thursday, October 16th. Bank of America upped their price target on shares of Johnson & Johnson from $198.00 to $204.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 15th. Loop Capital set a $190.00 price objective on Johnson & Johnson in a research report on Wednesday, October 22nd. Johnson Rice set a $190.00 target price on Johnson & Johnson and gave the stock a “hold” rating in a research report on Wednesday, October 22nd. Finally, Cowen reiterated a “buy” rating on shares of Johnson & Johnson in a research note on Tuesday, October 14th. Four research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat, Johnson & Johnson presently has a consensus rating of “Moderate Buy” and a consensus target price of $201.05.

Johnson & Johnson Stock Up 1.8%

Shares of NYSE JNJ opened at $199.39 on Tuesday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.80 and a current ratio of 1.07. Johnson & Johnson has a 1 year low of $140.68 and a 1 year high of $200.28. The stock’s 50-day simple moving average is $186.24 and its 200-day simple moving average is $170.46. The firm has a market cap of $480.38 billion, a price-to-earnings ratio of 19.25, a PEG ratio of 2.19 and a beta of 0.38.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings data on Wednesday, August 30th. The company reported $2.26 earnings per share for the quarter. Johnson & Johnson had a return on equity of 32.73% and a net margin of 27.26%.The firm had revenue of $24.02 billion during the quarter. As a group, equities analysts anticipate that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 9th. Investors of record on Tuesday, November 25th will be paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Tuesday, November 25th. Johnson & Johnson’s payout ratio is 50.19%.

Insider Transactions at Johnson & Johnson

In related news, EVP Jennifer L. Taubert sold 56,471 shares of the company’s stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $177.81, for a total value of $10,041,108.51. Following the sale, the executive vice president directly owned 178,013 shares of the company’s stock, valued at $31,652,491.53. This represents a 24.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.16% of the stock is owned by corporate insiders.

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.