Cove Private Wealth LLC Grows Stake in Johnson & Johnson (NYSE:JNJ)

Cove Private Wealth LLC grew its holdings in Johnson & Johnson (NYSE:JNJ) by 11.4% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 10,799 shares of the company’s stock after acquiring an additional 1,107 shares during the quarter. Johnson & Johnson comprises 0.9% of Cove Private Wealth LLC’s investment portfolio, making the stock its 29th biggest holding. Cove Private Wealth LLC’s holdings in Johnson & Johnson were worth $1,791,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Lantz Financial LLC increased its holdings in shares of Johnson & Johnson by 3.3% in the 1st quarter. Lantz Financial LLC now owns 11,974 shares of the company’s stock valued at $1,986,000 after acquiring an additional 377 shares during the last quarter. Sulzberger Capital Advisors Inc. purchased a new position in Johnson & Johnson during the 4th quarter worth approximately $453,000. Joel Isaacson & Co. LLC grew its stake in Johnson & Johnson by 3.5% during the 1st quarter. Joel Isaacson & Co. LLC now owns 74,132 shares of the company’s stock worth $12,294,000 after buying an additional 2,526 shares during the last quarter. State of Wyoming grew its stake in Johnson & Johnson by 205,580.0% during the 4th quarter. State of Wyoming now owns 10,284 shares of the company’s stock worth $1,487,000 after buying an additional 10,279 shares during the last quarter. Finally, Range Financial Group LLC grew its stake in Johnson & Johnson by 18.9% during the 1st quarter. Range Financial Group LLC now owns 15,886 shares of the company’s stock worth $2,635,000 after buying an additional 2,529 shares during the last quarter. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Erste Group Bank upgraded Johnson & Johnson from a “hold” rating to a “buy” rating in a research note on Wednesday, July 23rd. Leerink Partnrs downgraded Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 13th. Piper Sandler restated an “overweight” rating on shares of Johnson & Johnson in a research note on Thursday, July 17th. Sanford C. Bernstein restated a “market perform” rating on shares of Johnson & Johnson in a research note on Wednesday, April 16th. Finally, Raymond James Financial decreased their price objective on Johnson & Johnson from $165.00 to $162.00 and set an “outperform” rating for the company in a research report on Monday, April 14th. Nine investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Johnson & Johnson presently has a consensus rating of “Moderate Buy” and a consensus price target of $174.50.

Johnson & Johnson Stock Up 1.1%

JNJ opened at $173.40 on Monday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.01 and a quick ratio of 0.76. The business has a 50 day simple moving average of $159.26 and a 200-day simple moving average of $157.60. The stock has a market capitalization of $417.61 billion, a P/E ratio of 18.55, a P/E/G ratio of 2.21 and a beta of 0.41. Johnson & Johnson has a 12 month low of $140.68 and a 12 month high of $173.96.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly 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. The business had revenue of $23.74 billion during the quarter, compared to analysts’ expectations of $22.85 billion. Johnson & Johnson had a return on equity of 32.49% and a net margin of 25.00%. The company’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period last year, the firm earned $2.82 EPS. On average, equities analysts anticipate that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

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 issued a dividend of $1.30 per share. The ex-dividend date of this dividend is Tuesday, August 26th. This represents a $5.20 annualized dividend and a yield of 3.0%. Johnson & Johnson’s payout ratio is currently 55.61%.

Johnson & Johnson 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.