SlateStone Wealth LLC Acquires 193 Shares of Johnson & Johnson (NYSE:JNJ)

SlateStone Wealth LLC grew its holdings in Johnson & Johnson (NYSE:JNJ) by 0.3% in the 1st quarter, HoldingsChannel.com reports. The fund owned 70,057 shares of the company’s stock after purchasing an additional 193 shares during the quarter. Johnson & Johnson makes up 1.2% of SlateStone Wealth LLC’s investment portfolio, making the stock its 26th largest position. SlateStone Wealth LLC’s holdings in Johnson & Johnson were worth $11,618,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently added to or reduced their stakes in JNJ. Conquis Financial LLC bought a new stake in shares of Johnson & Johnson during the 4th quarter worth $33,000. Bernard Wealth Management Corp. acquired a new position in Johnson & Johnson during the 4th quarter valued at $36,000. Highline Wealth Partners LLC raised its stake in Johnson & Johnson by 51.8% during the 1st quarter. Highline Wealth Partners LLC now owns 252 shares of the company’s stock valued at $42,000 after purchasing an additional 86 shares during the last quarter. von Borstel & Associates Inc. acquired a new position in Johnson & Johnson during the 1st quarter valued at $49,000. Finally, Capital A Wealth Management LLC acquired a new position in Johnson & Johnson during the 4th quarter valued at $50,000. 69.55% of the stock is owned by institutional investors.

Johnson & Johnson Price Performance

Shares of JNJ stock opened at $168.03 on Wednesday. The company has a current ratio of 1.01, a quick ratio of 0.76 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $404.29 billion, a price-to-earnings ratio of 17.97, a PEG ratio of 2.12 and a beta of 0.41. The firm’s 50 day moving average is $156.65 and its 200-day moving average is $156.22. Johnson & Johnson has a 1 year low of $140.68 and a 1 year high of $169.99.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings results on Wednesday, July 16th. The company reported $2.77 earnings per share for the quarter, topping analysts’ consensus estimates of $2.68 by $0.09. The business had revenue of $23.74 billion during the quarter, compared to the consensus estimate of $22.85 billion. Johnson & Johnson had a net margin of 25.00% and a return on equity of 32.49%. Johnson & Johnson’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.82 earnings per share. Sell-side analysts forecast that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 9th. Investors of record on Tuesday, August 26th will be paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date is Tuesday, August 26th. Johnson & Johnson’s dividend payout ratio (DPR) is 55.61%.

Analysts Set New Price Targets

JNJ has been the subject of several research analyst reports. Guggenheim reiterated a “neutral” rating and set a $167.00 target price (up from $164.00) on shares of Johnson & Johnson in a research note on Thursday, July 17th. Piper Sandler reaffirmed an “overweight” rating on shares of Johnson & Johnson in a report on Thursday, July 17th. The Goldman Sachs Group raised shares of Johnson & Johnson from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $157.00 to $172.00 in a report on Wednesday, April 9th. Barclays lifted their price target on shares of Johnson & Johnson from $165.00 to $176.00 and gave the company an “equal weight” rating in a report on Thursday, July 17th. Finally, Bank of America boosted their price target on shares of Johnson & Johnson from $161.00 to $175.00 and gave the company a “neutral” rating in a research report on Thursday, July 17th. Nine research analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Johnson & Johnson presently has a consensus rating of “Moderate Buy” and a consensus price target 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.