Pinnacle Bancorp Inc. Grows Stock Position in Johnson & Johnson (NYSE:JNJ)

Pinnacle Bancorp Inc. lifted its stake in Johnson & Johnson (NYSE:JNJ) by 9.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,128 shares of the company’s stock after buying an additional 1,528 shares during the period. Johnson & Johnson makes up approximately 0.8% of Pinnacle Bancorp Inc.’s holdings, making the stock its 20th largest holding. Pinnacle Bancorp Inc.’s holdings in Johnson & Johnson were worth $2,709,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Gallagher Fiduciary Advisors LLC grew its holdings in shares of Johnson & Johnson by 18.9% during the 3rd quarter. Gallagher Fiduciary Advisors LLC now owns 2,577 shares of the company’s stock worth $401,000 after acquiring an additional 409 shares during the period. New England Asset Management Inc. grew its holdings in shares of Johnson & Johnson by 11.3% during the 3rd quarter. New England Asset Management Inc. now owns 46,936 shares of the company’s stock worth $7,310,000 after acquiring an additional 4,750 shares during the period. Gateway Advisory LLC grew its holdings in shares of Johnson & Johnson by 179.4% during the 3rd quarter. Gateway Advisory LLC now owns 17,794 shares of the company’s stock worth $2,771,000 after acquiring an additional 11,425 shares during the period. Wahed Invest LLC grew its holdings in shares of Johnson & Johnson by 2.2% during the 3rd quarter. Wahed Invest LLC now owns 38,183 shares of the company’s stock worth $5,947,000 after acquiring an additional 805 shares during the period. Finally, Axxcess Wealth Management LLC grew its stake in shares of Johnson & Johnson by 71.8% in the 3rd quarter. Axxcess Wealth Management LLC now owns 66,481 shares of the company’s stock worth $10,354,000 after buying an additional 27,795 shares during the last quarter. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Price Performance

Shares of Johnson & Johnson stock opened at $146.16 on Friday. Johnson & Johnson has a one year low of $143.13 and a one year high of $175.97. The stock’s fifty day moving average is $148.14 and its 200 day moving average is $154.07. The stock has a market cap of $351.76 billion, a P/E ratio of 9.11, a P/E/G ratio of 2.43 and a beta of 0.53. 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 (NYSE:JNJ) last announced its earnings results on Tuesday, April 16th. The company reported $2.71 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 company had revenue of $21.38 billion for the quarter, compared to analysts’ expectations of $21.39 billion. During the same period last year, the firm earned $2.68 EPS. Johnson & Johnson’s revenue for the quarter was up 2.3% compared to the same quarter last year. Sell-side analysts anticipate that Johnson & Johnson will post 10.62 earnings per share for the current year.

Johnson & Johnson Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 4th. Shareholders of record on Tuesday, May 21st were issued a dividend of $1.24 per share. 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 currently 30.92%.

Analysts Set New Price Targets

Several analysts recently weighed in on JNJ shares. HSBC upgraded Johnson & Johnson from a “hold” rating to a “buy” rating and upped their price target for the stock from $169.00 to $170.00 in a research note on Thursday, April 18th. Cantor Fitzgerald restated an “overweight” rating and issued a $215.00 price target on shares of Johnson & Johnson in a research note on Thursday, June 20th. Bank of America cut their price target on Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 17th. Morgan Stanley cut their price target on Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 17th. Finally, StockNews.com downgraded Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 22nd. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price 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.