Red Spruce Capital LLC Has $2.07 Million Stake in Johnson & Johnson (NYSE:JNJ)

Red Spruce Capital LLC grew its stake in Johnson & Johnson (NYSE:JNJ) by 2.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,505 shares of the company’s stock after purchasing an additional 344 shares during the period. Red Spruce Capital LLC’s holdings in Johnson & Johnson were worth $2,074,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. WealthTrak Capital Management LLC acquired a new position in Johnson & Johnson in the 4th quarter valued at approximately $26,000. Mountain Hill Investment Partners Corp. acquired a new stake in Johnson & Johnson in the fourth quarter valued at $29,000. Bay Harbor Wealth Management LLC bought a new position in Johnson & Johnson during the 4th quarter worth $32,000. Conquis Financial LLC acquired a new position in Johnson & Johnson during the 4th quarter worth about $33,000. Finally, Bernard Wealth Management Corp. bought a new stake in shares of Johnson & Johnson in the 4th quarter valued at about $36,000. 69.55% of the stock is owned by institutional investors.

Johnson & Johnson Stock Performance

NYSE:JNJ opened at $153.44 on Friday. The stock has a market cap of $369.19 billion, a P/E ratio of 23.07, a PEG ratio of 2.56 and a beta of 0.42. The company has a quick ratio of 0.86, a current ratio of 1.11 and a debt-to-equity ratio of 0.43. The business’s 50-day moving average price is $154.43 and its two-hundred day moving average price is $153.63. Johnson & Johnson has a twelve month low of $140.68 and a twelve month high of $169.99.

Johnson & Johnson (NYSE:JNJ) last announced its earnings results on Tuesday, April 15th. The company reported $2.77 earnings per share for the quarter, beating analysts’ consensus estimates of $2.59 by $0.18. Johnson & Johnson had a net margin of 18.20% and a return on equity of 34.24%. The business had revenue of $21.89 billion for the quarter, compared to the consensus estimate of $21.65 billion. As a group, equities analysts predict that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Tuesday, May 27th will be given a dividend of $1.30 per share. This is an increase from Johnson & Johnson’s previous quarterly dividend of $1.24. The ex-dividend date of this dividend is Tuesday, May 27th. This represents a $5.20 dividend on an annualized basis and a yield of 3.39%. Johnson & Johnson’s dividend payout ratio (DPR) is presently 57.84%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Guggenheim reiterated a “neutral” rating on shares of Johnson & Johnson in a research note on Wednesday, April 2nd. Morgan Stanley raised their price target on shares of Johnson & Johnson from $164.00 to $169.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 16th. Leerink Partnrs cut Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 13th. Bank of America decreased their price target on shares of Johnson & Johnson from $171.00 to $159.00 and set a “neutral” rating for the company in a research note on Thursday, April 10th. Finally, Benchmark raised shares of Johnson & Johnson to a “strong-buy” rating in a report on Thursday, April 24th. Eleven equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Johnson & Johnson currently has a consensus rating of “Moderate Buy” and a consensus target price of $170.88.

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.