CCM Investment Group LLC Invests $8.34 Million in Johnson & Johnson (NYSE:JNJ)

CCM Investment Group LLC bought a new position in Johnson & Johnson (NYSE:JNJ) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 50,917 shares of the company’s stock, valued at approximately $8,336,000. Johnson & Johnson makes up 0.9% of CCM Investment Group LLC’s portfolio, making the stock its 10th biggest holding.

Several other institutional investors and hedge funds have also modified their holdings of the business. Nuveen LLC acquired a new position in shares of Johnson & Johnson in the 1st quarter worth approximately $1,369,188,000. Scissortail Wealth Management LLC boosted its holdings in shares of Johnson & Johnson by 37.2% in the 1st quarter. Scissortail Wealth Management LLC now owns 29,813 shares of the company’s stock worth $4,944,000 after acquiring an additional 8,087 shares in the last quarter. Cooper Financial Group boosted its holdings in shares of Johnson & Johnson by 10.2% in the 1st quarter. Cooper Financial Group now owns 11,516 shares of the company’s stock worth $1,910,000 after acquiring an additional 1,067 shares in the last quarter. American Alpha Advisors LLC acquired a new position in shares of Johnson & Johnson in the 1st quarter worth approximately $465,000. Finally, Biltmore Family Office LLC boosted its holdings in shares of Johnson & Johnson by 15.6% in the 1st quarter. Biltmore Family Office LLC now owns 19,873 shares of the company’s stock worth $3,296,000 after acquiring an additional 2,683 shares in the last quarter. 69.55% of the stock is owned by institutional investors and hedge funds.

Johnson & Johnson Stock Performance

Shares of Johnson & Johnson stock opened at $173.40 on Friday. The firm has a fifty day moving average of $159.26 and a two-hundred day moving average of $157.52. The stock has a market capitalization of $417.61 billion, a price-to-earnings ratio of 18.55, a PEG ratio of 2.21 and a beta of 0.41. Johnson & Johnson has a 52 week low of $140.68 and a 52 week high of $173.96. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.76 and a current ratio of 1.01.

Johnson & Johnson (NYSE:JNJ) last issued its earnings results on Wednesday, July 16th. The company reported $2.77 EPS for the quarter, beating the consensus estimate of $2.68 by $0.09. Johnson & Johnson had a net margin of 25.00% and a return on equity of 32.49%. The company had revenue of $23.74 billion during the quarter, compared to analysts’ expectations of $22.85 billion. During the same quarter in the previous year, the company posted $2.82 EPS. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. As a group, equities research analysts predict that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 9th. Investors of record on Tuesday, August 26th will be given a $1.30 dividend. The ex-dividend date is Tuesday, August 26th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.0%. Johnson & Johnson’s dividend payout ratio is currently 55.61%.

Wall Street Analysts Forecast Growth

JNJ has been the topic of several recent analyst reports. UBS Group boosted their target price on Johnson & Johnson from $180.00 to $190.00 and gave the stock a “buy” rating in a report on Thursday, July 17th. Erste Group Bank upgraded shares of Johnson & Johnson from a “hold” rating to a “buy” rating in a research report on Wednesday, July 23rd. Benchmark upgraded shares of Johnson & Johnson to a “strong-buy” rating in a research report on Thursday, April 24th. Leerink Partnrs cut shares of Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 13th. Finally, Sanford C. Bernstein restated a “market perform” rating on shares of Johnson & Johnson in a research report on Wednesday, April 16th. Nine equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $174.50.

Johnson & Johnson Company Profile

Johnson & Johnson is a holding company, which engages in the research, development, manufacture, and sale of products in the healthcare field. It operates through the Innovative Medicine and MedTech segments. The Innovative Medicine segment focuses on immunology, infectious diseases, neuroscience, oncology, cardiovascular and metabolism, and pulmonary hypertension.