Red Lighthouse Investment Management LLC Invests $488,000 in Johnson & Johnson (NYSE:JNJ)

Red Lighthouse Investment Management LLC purchased a new position in shares of Johnson & Johnson (NYSE:JNJ – Get Rating) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 2,760 shares of the company’s stock, valued at approximately $488,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. DORCHESTER WEALTH MANAGEMENT Co boosted its holdings in shares of Johnson & Johnson by 8.6% during the 1st quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 67,618 shares of the company’s stock worth $14,975,000 after purchasing an additional 5,327 shares during the last quarter. Cantor Fitzgerald Investment Advisor L.P boosted its holdings in shares of Johnson & Johnson by 88.9% during the 1st quarter. Cantor Fitzgerald Investment Advisor L.P now owns 175,194 shares of the company’s stock worth $31,049,000 after purchasing an additional 82,429 shares during the last quarter. AMI Investment Management Inc. boosted its holdings in shares of Johnson & Johnson by 8.8% during the 1st quarter. AMI Investment Management Inc. now owns 18,305 shares of the company’s stock worth $3,244,000 after purchasing an additional 1,475 shares during the last quarter. Equitable Holdings Inc. lifted its holdings in Johnson & Johnson by 4.9% in the first quarter. Equitable Holdings Inc. now owns 45,673 shares of the company’s stock valued at $8,095,000 after acquiring an additional 2,119 shares during the last quarter. Finally, USS Investment Management Ltd lifted its holdings in Johnson & Johnson by 2.4% in the first quarter. USS Investment Management Ltd now owns 860,371 shares of the company’s stock valued at $152,488,000 after acquiring an additional 20,528 shares during the last quarter. Institutional investors and hedge funds own 67.94% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Piper Sandler cut their target price on Johnson & Johnson from $55.00 to $52.00 in a research report on Monday, February 6th. Raymond James cut their price objective on Johnson & Johnson from $185.00 to $181.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 19th. UBS Group assumed coverage on Johnson & Johnson in a report on Tuesday, March 28th. They issued a “neutral” rating and a $164.00 target price on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $215.00 target price on shares of Johnson & Johnson in a report on Wednesday, February 1st. Finally, StockNews.com began coverage on shares of Johnson & Johnson in a research note on Thursday, May 18th. They issued a “strong-buy” rating for the company. Seven investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $173.00.

Insider Activity

In other news, insider James D. Swanson sold 1,062 shares of the company’s stock in a transaction dated Monday, March 6th. The shares were sold at an average price of $154.66, for a total value of $164,248.92. Following the sale, the insider now owns 9,215 shares in the company, valued at approximately $1,425,191.90. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.20% of the company’s stock.

Johnson & Johnson Stock Down 1.4 %

Shares of JNJ opened at $154.41 on Friday. The firm has a market cap of $401.27 billion, a PE ratio of 32.30, a price-to-earnings-growth ratio of 2.67 and a beta of 0.53. The company’s fifty day moving average is $159.89 and its two-hundred day moving average is $165.86. Johnson & Johnson has a fifty-two week low of $150.11 and a fifty-two week high of $183.35. The company has a quick ratio of 0.85, a current ratio of 1.07 and a debt-to-equity ratio of 0.49.

Johnson & Johnson (NYSE:JNJ – Get Rating) last posted its quarterly earnings data on Tuesday, April 18th. The company reported $2.68 earnings per share for the quarter, beating analysts’ consensus estimates of $2.51 by $0.17. The company had revenue of $24.75 billion during the quarter, compared to analysts’ expectations of $23.61 billion. Johnson & Johnson had a net margin of 13.22% and a return on equity of 36.13%. The firm’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same period in the prior year, the company posted $2.67 EPS. Analysts forecast that Johnson & Johnson will post 10.66 earnings per share for the current year.

Johnson & Johnson Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 6th. Stockholders of record on Tuesday, May 23rd will be paid a $1.19 dividend. This represents a $4.76 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date of this dividend is Monday, May 22nd. This is a positive change from Johnson & Johnson’s previous quarterly dividend of $1.13. Johnson & Johnson’s dividend payout ratio is 99.58%.

Johnson & Johnson Profile

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Johnson & Johnson is a holding company, which engages in the research and development, manufacture and sale of products in the health care field. It operates through the following segments: Consumer Health, Pharmaceutical, and MedTech. The Consumer Health segment includes products focused on personal healthcare used in the Skin Health/Beauty, Over-the-Counter medicines, Baby Care, Oral Care, Women’s Health and Wound Care markets.