Johnson & Johnson (NYSE:JNJ) Stake Lifted by Independence Bank of Kentucky

Independence Bank of Kentucky raised its stake in Johnson & Johnson (NYSE:JNJ – Get Rating) by 3.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,812 shares of the company’s stock after purchasing an additional 780 shares during the quarter. Johnson & Johnson comprises about 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 filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the stock. Geller Advisors LLC increased its position in shares of Johnson & Johnson by 7.5% during the second quarter. Geller Advisors LLC now owns 9,260 shares of the company’s stock worth $1,644,000 after acquiring an additional 648 shares during the last quarter. Lincoln Capital Corp increased its position in shares of Johnson & Johnson by 15.9% during the third quarter. Lincoln Capital Corp now owns 1,332 shares of the company’s stock worth $218,000 after acquiring an additional 183 shares during the last quarter. Ieq Capital LLC increased its position in shares of Johnson & Johnson by 5.1% during the third quarter. Ieq Capital LLC now owns 128,012 shares of the company’s stock worth $20,912,000 after acquiring an additional 6,154 shares during the last quarter. Ranch Capital Advisors Inc. increased its position in shares of Johnson & Johnson by 3.2% during the second quarter. Ranch Capital Advisors Inc. now owns 10,154 shares of the company’s stock worth $1,802,000 after acquiring an additional 318 shares during the last quarter. Finally, RFG Advisory LLC increased its position in shares of Johnson & Johnson by 2.7% during the third quarter. RFG Advisory LLC now owns 22,434 shares of the company’s stock worth $3,900,000 after acquiring an additional 594 shares during the last quarter. 67.94% of the stock is owned by hedge funds and other institutional investors.

Johnson & Johnson Stock Performance

Shares of NYSE JNJ opened at $152.38 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.77 and a debt-to-equity ratio of 0.35. The stock has a 50 day simple moving average of $161.97 and a 200-day simple moving average of $167.88. The company has a market cap of $396.84 billion, a PE ratio of 22.61, a P/E/G ratio of 2.65 and a beta of 0.54. Johnson & Johnson has a 12-month low of $150.71 and a 12-month high of $186.69.

Johnson & Johnson (NYSE:JNJ – Get Rating) last issued its quarterly earnings data on Tuesday, January 24th. The company reported $2.35 earnings per share (EPS) for the quarter, topping the consensus estimate 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 return on equity of 35.76% and a net margin of 18.90%. The business’s revenue was down 4.4% on a year-over-year basis. During the same period in the previous year, the firm posted $2.13 earnings per share. On average, equities research analysts forecast that Johnson & Johnson will post 10.5 EPS for the current year.

Johnson & Johnson Announces Dividend

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

Insiders Place Their Bets

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

Analysts Set New Price Targets

JNJ has been the topic of a number of analyst reports. Morgan Stanley lifted their target price on Johnson & Johnson from $176.00 to $180.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 25th. Piper Sandler lowered their price objective on Johnson & Johnson from $55.00 to $52.00 in a report on Monday, February 6th. Guggenheim started coverage on Johnson & Johnson in a report on Tuesday, February 28th. They issued a “neutral” rating and a $161.00 price objective for the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $215.00 price objective on shares of Johnson & Johnson in a report on Wednesday, February 1st. Finally, SVB Leerink lowered their price objective on Johnson & Johnson from $194.00 to $186.00 and set an “outperform” rating for the company in a report on Friday, January 20th. Seven investment 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. Based on data from MarketBeat.com, the company 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.