Johnson & Johnson (NYSE:JNJ) Shares Bought by Griffin Asset Management Inc.

Griffin Asset Management Inc. grew its position in Johnson & Johnson (NYSE:JNJ) by 0.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 79,488 shares of the company’s stock after purchasing an additional 400 shares during the period. Johnson & Johnson makes up approximately 1.5% of Griffin Asset Management Inc.’s holdings, making the stock its 17th largest holding. Griffin Asset Management Inc.’s holdings in Johnson & Johnson were worth $12,574,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of JNJ. Keener Financial Planning LLC acquired a new position in shares of Johnson & Johnson during the fourth quarter worth about $40,000. WFA Asset Management Corp raised its holdings in shares of Johnson & Johnson by 61.4% during the 4th quarter. WFA Asset Management Corp now owns 255 shares of the company’s stock valued at $40,000 after buying an additional 97 shares during the period. Vermillion & White Wealth Management Group LLC acquired a new position in Johnson & Johnson during the 4th quarter worth approximately $44,000. Disciplined Equity Management Inc. purchased a new position in Johnson & Johnson in the 4th quarter worth approximately $45,000. Finally, Grayhawk Investment Strategies Inc. grew its position in Johnson & Johnson by 528.6% in the fourth quarter. Grayhawk Investment Strategies Inc. now owns 308 shares of the company’s stock valued at $48,000 after acquiring an additional 259 shares in the last quarter. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Wall Street Analyst Weigh In

JNJ has been the subject of several analyst reports. Bank of America decreased their target price on shares of Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating for the company in a research note on Wednesday, April 17th. StockNews.com raised shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Sunday. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $215.00 target price on shares of Johnson & Johnson in a research report on Thursday, June 20th. Morgan Stanley reduced their price target on Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating for the company in a report on Wednesday, April 17th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $175.00 price objective on shares of Johnson & Johnson in a report on Monday, June 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $174.07.

Johnson & Johnson Stock Performance

Johnson & Johnson stock opened at $146.16 on Friday. The company has a market cap of $351.76 billion, a PE ratio of 9.11, a P/E/G ratio of 2.43 and a beta of 0.53. Johnson & Johnson has a 12 month low of $143.13 and a 12 month high of $175.97. The company has a fifty day moving average price of $148.14 and a two-hundred day moving average price of $154.06. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.17 and a quick ratio of 0.94.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings data on Tuesday, April 16th. The company reported $2.71 earnings per share 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 business had revenue of $21.38 billion during the quarter, compared to the consensus estimate of $21.39 billion. During the same quarter in the prior year, the firm earned $2.68 EPS. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. Research analysts expect that Johnson & Johnson will post 10.62 earnings per share for the current year.

Johnson & Johnson Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 4th. Investors of record on Tuesday, May 21st were issued 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 annualized dividend and a dividend 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.