Grant Street Asset Management Inc. Buys 389 Shares of Johnson & Johnson (NYSE:JNJ)

Grant Street Asset Management Inc. grew its stake in Johnson & Johnson (NYSE:JNJ) by 11.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,916 shares of the company’s stock after purchasing an additional 389 shares during the period. Grant Street Asset Management Inc.’s holdings in Johnson & Johnson were worth $619,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Christopher J. Hasenberg Inc purchased a new stake in Johnson & Johnson in the 1st quarter worth about $31,000. Keener Financial Planning LLC bought a new position in shares of Johnson & Johnson during the fourth quarter valued at approximately $40,000. WFA Asset Management Corp raised its holdings in shares of Johnson & Johnson by 61.4% in the fourth quarter. WFA Asset Management Corp now owns 255 shares of the company’s stock worth $40,000 after buying an additional 97 shares during the period. Vermillion & White Wealth Management Group LLC bought a new stake in shares of Johnson & Johnson during the 4th quarter worth approximately $44,000. Finally, Disciplined Equity Management Inc. purchased a new position in Johnson & Johnson during the 4th quarter valued at $45,000. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on JNJ shares. StockNews.com upgraded Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Sunday, June 30th. The Goldman Sachs Group started coverage on shares of Johnson & Johnson in a report on Thursday, May 30th. They set a “neutral” rating and a $160.00 price objective for the company. Bank of America reduced their target price on shares of Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 17th. HSBC upgraded Johnson & Johnson from a “hold” rating to a “buy” rating and boosted their price target for the company from $169.00 to $170.00 in a report on Thursday, April 18th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $175.00 target price on shares of Johnson & Johnson in a research report on Monday, June 17th. Eight investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $174.07.

Johnson & Johnson Stock Performance

JNJ stock opened at $146.48 on Friday. The firm has a 50-day simple moving average of $147.94 and a two-hundred day simple moving average of $153.71. 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 one year low of $143.13 and a one year high of $175.97. The firm has a market cap of $352.53 billion, a price-to-earnings ratio of 9.13, a PEG ratio of 2.44 and a beta of 0.52.

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

Johnson & Johnson Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 4th. Investors of record on Tuesday, May 21st were paid a $1.24 dividend. The ex-dividend date of this dividend was Monday, May 20th. This is a boost from Johnson & Johnson’s previous quarterly dividend of $1.19. This represents a $4.96 dividend on an annualized basis and a yield of 3.39%. Johnson & Johnson’s dividend payout ratio (DPR) is 30.92%.

Johnson & Johnson Company 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.