Mystic Asset Management Inc. Grows Position in Johnson & Johnson (NYSE:JNJ)

Mystic Asset Management Inc. lifted its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 7.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,534 shares of the company’s stock after buying an additional 1,288 shares during the period. Johnson & Johnson makes up 1.3% of Mystic Asset Management Inc.’s portfolio, making the stock its 19th biggest position. Mystic Asset Management Inc.’s holdings in Johnson & Johnson were worth $3,090,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of JNJ. Pathway Financial Advisors LLC boosted its position in Johnson & Johnson by 4.3% in the fourth quarter. Pathway Financial Advisors LLC now owns 5,438 shares of the company’s stock worth $852,000 after purchasing an additional 226 shares during the last quarter. Daiwa Securities Group Inc. boosted its position in Johnson & Johnson by 5.5% in the fourth quarter. Daiwa Securities Group Inc. now owns 297,850 shares of the company’s stock worth $46,685,000 after purchasing an additional 15,490 shares during the last quarter. OneAscent Financial Services LLC boosted its position in Johnson & Johnson by 82.8% in the fourth quarter. OneAscent Financial Services LLC now owns 9,838 shares of the company’s stock worth $1,542,000 after purchasing an additional 4,457 shares during the last quarter. Drive Wealth Management LLC boosted its position in Johnson & Johnson by 4.5% in the first quarter. Drive Wealth Management LLC now owns 9,625 shares of the company’s stock worth $1,523,000 after purchasing an additional 414 shares during the last quarter. Finally, Vestmark Advisory Solutions Inc. boosted its position in Johnson & Johnson by 12.7% in the fourth quarter. Vestmark Advisory Solutions Inc. now owns 19,587 shares of the company’s stock worth $3,070,000 after purchasing an additional 2,201 shares during the last quarter. 69.55% of the stock is owned by hedge funds and other institutional investors.

Johnson & Johnson Stock Up 0.1 %

Shares of JNJ opened at $149.88 on Friday. The business’s 50 day moving average is $147.94 and its 200 day moving average is $153.48. The company has a market capitalization of $360.71 billion, a PE ratio of 9.34, a price-to-earnings-growth ratio of 2.50 and a beta of 0.52. Johnson & Johnson has a 12-month low of $143.13 and a 12-month high of $175.97. The company has a current ratio of 1.17, a quick ratio of 0.94 and a debt-to-equity ratio of 0.36.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings data on Tuesday, April 16th. The company reported $2.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.64 by $0.07. Johnson & Johnson had a return on equity of 36.70% and a net margin of 45.26%. The business had revenue of $21.38 billion for the quarter, compared to the consensus estimate of $21.39 billion. During the same quarter in the previous year, the company posted $2.68 EPS. The company’s revenue was up 2.3% compared to the same quarter last year. Research analysts expect that Johnson & Johnson will post 10.5 earnings per share for the current fiscal year.

Johnson & Johnson Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 4th. Shareholders of record on Tuesday, May 21st were paid a $1.24 dividend. This is an increase from Johnson & Johnson’s previous quarterly dividend of $1.19. The ex-dividend date of this dividend was Monday, May 20th. This represents a $4.96 dividend on an annualized basis and a yield of 3.31%. Johnson & Johnson’s payout ratio is presently 30.92%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on JNJ. HSBC raised Johnson & Johnson from a “hold” rating to a “buy” rating and raised their target price for the stock from $169.00 to $170.00 in a research report on Thursday, April 18th. StockNews.com raised 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 Johnson & Johnson in a research report on Thursday, May 30th. They set a “neutral” rating and a $160.00 price objective on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $175.00 price objective on shares of Johnson & Johnson in a research report on Monday, June 17th. Finally, Bank of America lowered their price objective on Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 17th. Eight investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $174.07.

About Johnson & Johnson

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.