Johnson & Johnson (NYSE:JNJ) is Independence Bank of Kentucky’s 7th Largest Position

Independence Bank of Kentucky lifted its holdings in shares of Johnson & Johnson (NYSE:JNJ – Get Rating) by 3.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 24,812 shares of the company’s stock after purchasing an additional 780 shares during the quarter. Johnson & Johnson comprises approximately 2.0% of Independence Bank of Kentucky’s investment portfolio, making the stock its 7th biggest position. Independence Bank of Kentucky’s holdings in Johnson & Johnson were worth $4,383,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Geller Advisors LLC boosted its holdings in Johnson & Johnson by 7.5% during the 2nd quarter. Geller Advisors LLC now owns 9,260 shares of the company’s stock valued at $1,644,000 after acquiring an additional 648 shares during the period. Lincoln Capital Corp boosted its holdings in Johnson & Johnson by 15.9% during the 3rd quarter. Lincoln Capital Corp now owns 1,332 shares of the company’s stock valued at $218,000 after acquiring an additional 183 shares during the period. Ieq Capital LLC boosted its holdings in Johnson & Johnson by 5.1% during the 3rd quarter. Ieq Capital LLC now owns 128,012 shares of the company’s stock valued at $20,912,000 after acquiring an additional 6,154 shares during the period. Ranch Capital Advisors Inc. boosted its holdings in Johnson & Johnson by 3.2% during the 2nd quarter. Ranch Capital Advisors Inc. now owns 10,154 shares of the company’s stock valued at $1,802,000 after acquiring an additional 318 shares during the period. Finally, RFG Advisory LLC boosted its holdings in Johnson & Johnson by 2.7% during the 3rd quarter. RFG Advisory LLC now owns 22,434 shares of the company’s stock valued at $3,900,000 after acquiring an additional 594 shares during the period. 67.94% of the stock is currently owned by hedge funds and other institutional investors.

Johnson & Johnson Stock Down 1.1 %

Shares of Johnson & Johnson stock opened at $152.38 on Friday. The company has a market cap of $396.84 billion, a P/E ratio of 22.61, a PEG ratio of 2.65 and a beta of 0.54. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.77 and a current ratio of 0.99. Johnson & Johnson has a one year low of $150.71 and a one year high of $186.69. The firm has a fifty day moving average of $161.97 and a two-hundred day moving average of $167.88.

Johnson & Johnson (NYSE:JNJ – Get Rating) last announced its quarterly earnings results on Tuesday, January 24th. The company reported $2.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.22 by $0.13. The business had revenue of $23.71 billion during the quarter, compared to the consensus estimate of $23.90 billion. Johnson & Johnson had a net margin of 18.90% and a return on equity of 35.76%. The business’s revenue was down 4.4% compared to the same quarter last year. During the same quarter last year, the firm posted $2.13 EPS. On average, analysts forecast that Johnson & Johnson will post 10.5 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 7th. Shareholders of record on Tuesday, February 21st were issued a dividend of $1.13 per share. The ex-dividend date was Friday, February 17th. This represents a $4.52 annualized dividend and a yield of 2.97%. Johnson & Johnson’s dividend payout ratio (DPR) is currently 67.06%.

Insider Buying and Selling at Johnson & Johnson

In related news, insider James D. Swanson sold 1,062 shares of the firm’s stock in a transaction that occurred on Monday, March 6th. The shares were sold at an average price of $154.66, for a total value of $164,248.92. Following the sale, the insider now directly owns 9,215 shares of the company’s stock, valued at $1,425,191.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.35% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. StockNews.com assumed coverage on Johnson & Johnson in a research note on Thursday. They issued a “strong-buy” rating for the company. Atlantic Securities lifted their price objective on Johnson & Johnson from $160.00 to $168.00 and gave the company a “neutral” rating in a research note on Wednesday, January 25th. Guggenheim began coverage on Johnson & Johnson in a research note on Tuesday, February 28th. They issued a “neutral” rating and a $161.00 price objective for the company. Citigroup raised their target price on Johnson & Johnson from $198.00 to $205.00 and gave the stock a “buy” rating in a research report on Monday, December 12th. Finally, Piper Sandler lowered their target price on shares of Johnson & Johnson from $55.00 to $52.00 in a research report on Monday, February 6th. Seven analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $174.73.

Johnson & Johnson Profile

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Johnson & Johnson is a holding company, which engages in the research and development, manufacture and sale of products in the health care field. It operates through the following segments: Consumer Health, Pharmaceutical, and MedTech. The Consumer Health segment includes products focused on personal healthcare used in the Skin Health/Beauty, Over-the-Counter medicines, Baby Care, Oral Care, Women’s Health and Wound Care markets.