Sandy Cove Advisors LLC Has $885,000 Position in Johnson & Johnson (NYSE:JNJ)

Sandy Cove Advisors LLC grew its position in Johnson & Johnson (NYSE:JNJ) by 4.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,597 shares of the company’s stock after acquiring an additional 238 shares during the period. Sandy Cove Advisors LLC’s holdings in Johnson & Johnson were worth $885,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Trilogy Capital Inc. grew its position in shares of Johnson & Johnson by 91.5% in the 1st quarter. Trilogy Capital Inc. now owns 4,392 shares of the company’s stock valued at $695,000 after acquiring an additional 2,099 shares during the period. Red Door Wealth Management LLC grew its position in shares of Johnson & Johnson by 2.0% in the 1st quarter. Red Door Wealth Management LLC now owns 47,322 shares of the company’s stock valued at $7,486,000 after acquiring an additional 921 shares during the period. Cornerstone Wealth Group LLC grew its position in shares of Johnson & Johnson by 63.3% in the 1st quarter. Cornerstone Wealth Group LLC now owns 52,737 shares of the company’s stock valued at $8,343,000 after acquiring an additional 20,446 shares during the period. FIDELIS iM LLC bought a new stake in shares of Johnson & Johnson during the 1st quarter worth about $202,000. Finally, River Street Advisors LLC boosted its holdings in shares of Johnson & Johnson by 5.5% during the 1st quarter. River Street Advisors LLC now owns 12,746 shares of the company’s stock worth $2,016,000 after buying an additional 666 shares during the period. Institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Trading Up 0.2 %

Shares of NYSE JNJ opened at $146.42 on Tuesday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.94 and a current ratio of 1.17. Johnson & Johnson has a 52-week low of $143.13 and a 52-week high of $175.97. The firm has a 50 day moving average price of $148.14 and a two-hundred day moving average price of $154.05. The stock has a market cap of $352.39 billion, a P/E ratio of 9.13, a price-to-earnings-growth ratio of 2.43 and a beta of 0.52.

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

Johnson & Johnson Increases Dividend

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

Wall Street Analysts Forecast Growth

JNJ has been the subject of several research analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $215.00 target price on shares of Johnson & Johnson in a report on Monday. Morgan Stanley reduced their target price on shares of Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating for the company in a report on Wednesday, April 17th. Bank of America reduced their target price on shares of Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating for the company in a report on Wednesday, April 17th. StockNews.com raised shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Sunday. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $175.00 price objective on shares of Johnson & Johnson in a report on Monday, June 17th. Eight equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Johnson & Johnson presently has an average rating of “Moderate Buy” and a consensus price target of $174.07.

Johnson & Johnson Profile

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.