Pine Harbor Wealth Management LLC Has $507,000 Position in Johnson & Johnson (NYSE:JNJ)

Pine Harbor Wealth Management LLC boosted its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 1.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,472 shares of the company’s stock after purchasing an additional 64 shares during the period. Pine Harbor Wealth Management LLC’s holdings in Johnson & Johnson were worth $507,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Innealta Capital LLC bought a new position in shares of Johnson & Johnson in the 2nd quarter valued at $27,000. Christopher J. Hasenberg Inc bought a new position in shares of Johnson & Johnson in the 1st quarter valued at $31,000. MFA Wealth Advisors LLC bought a new position in shares of Johnson & Johnson in the 2nd quarter valued at $43,000. Vermillion & White Wealth Management Group LLC bought a new position in shares of Johnson & Johnson in the 4th quarter valued at $44,000. Finally, Grayhawk Investment Strategies Inc. lifted its stake in shares of Johnson & Johnson by 528.6% in the 4th quarter. Grayhawk Investment Strategies Inc. now owns 308 shares of the company’s stock valued at $48,000 after acquiring an additional 259 shares during the last quarter. 69.55% of the stock is currently owned by institutional investors.

Insider Activity at Johnson & Johnson

In related news, VP Robert J. Decker sold 5,635 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $165.06, for a total value of $930,113.10. Following the transaction, the vice president now owns 18,973 shares of the company’s stock, valued at approximately $3,131,683.38. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.16% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on JNJ. TD Securities lowered their target price on Johnson & Johnson from $195.00 to $185.00 in a research report on Thursday, July 18th. TD Cowen lowered their target price on Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating for the company in a research report on Thursday, July 18th. Daiwa America lowered Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. Sanford C. Bernstein raised their target price on Johnson & Johnson from $161.00 to $171.00 in a research report on Thursday, July 18th. Finally, Daiwa Capital Markets lowered Johnson & Johnson from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $160.00 to $150.00 in a research report on Tuesday, July 23rd. Seven analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Johnson & Johnson presently has a consensus rating of “Moderate Buy” and an average price target of $173.21.

Johnson & Johnson Stock Performance

Shares of JNJ opened at $165.52 on Monday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.07 and a quick ratio of 0.85. The stock has a 50-day moving average of $159.55 and a 200-day moving average of $153.94. The company has a market cap of $398.45 billion, a PE ratio of 10.32, a P/E/G ratio of 2.71 and a beta of 0.53. Johnson & Johnson has a one year low of $143.13 and a one year high of $168.85.

Johnson & Johnson (NYSE:JNJ) last issued its earnings results on Wednesday, July 17th. The company reported $2.82 EPS for the quarter, beating the consensus estimate of $2.71 by $0.11. The company had revenue of $22.45 billion during the quarter, compared to the consensus estimate of $22.33 billion. Johnson & Johnson had a return on equity of 36.60% and a net margin of 46.34%. The firm’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same period last year, the business posted $2.80 EPS. On average, equities research analysts predict that Johnson & Johnson will post 10.02 EPS for the current fiscal year.

Johnson & Johnson Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 27th were paid a $1.24 dividend. The ex-dividend date was Tuesday, August 27th. This represents a $4.96 annualized dividend and a dividend yield of 3.00%. Johnson & Johnson’s dividend payout ratio is presently 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.