Bright Financial Advisors Inc. Purchases Shares of 1,228 Johnson & Johnson (NYSE:JNJ)

Bright Financial Advisors Inc. purchased a new stake in Johnson & Johnson (NYSE:JNJ) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 1,228 shares of the company’s stock, valued at approximately $204,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Highline Wealth Partners LLC raised its stake in shares of Johnson & Johnson by 51.8% in the first quarter. Highline Wealth Partners LLC now owns 252 shares of the company’s stock worth $42,000 after purchasing an additional 86 shares during the last quarter. Stone House Investment Management LLC purchased a new stake in shares of Johnson & Johnson during the first quarter valued at approximately $47,000. von Borstel & Associates Inc. purchased a new stake in shares of Johnson & Johnson during the first quarter valued at approximately $49,000. Capital A Wealth Management LLC purchased a new stake in shares of Johnson & Johnson during the fourth quarter valued at approximately $50,000. Finally, Harvest Fund Management Co. Ltd purchased a new stake in shares of Johnson & Johnson during the first quarter valued at approximately $52,000. Institutional investors own 69.55% of the company’s stock.

Analyst Upgrades and Downgrades

JNJ has been the subject of a number of research analyst reports. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Johnson & Johnson in a research report on Wednesday, April 16th. Piper Sandler reissued an “overweight” rating on shares of Johnson & Johnson in a research report on Thursday, July 17th. Guggenheim reaffirmed a “neutral” rating and issued a $167.00 price target (up from $164.00) on shares of Johnson & Johnson in a report on Thursday, July 17th. Morgan Stanley raised their price target on Johnson & Johnson from $171.00 to $176.00 and gave the stock an “equal weight” rating in a report on Thursday, July 17th. Finally, Erste Group Bank raised Johnson & Johnson from a “hold” rating to a “buy” rating in a report on Wednesday, July 23rd. Nine research analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $174.50.

Johnson & Johnson Stock Performance

Johnson & Johnson stock opened at $172.79 on Wednesday. The stock’s 50 day simple moving average is $160.00 and its two-hundred day simple moving average is $157.90. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.76 and a current ratio of 1.01. The stock has a market cap of $416.14 billion, a price-to-earnings ratio of 18.48, a PEG ratio of 2.21 and a beta of 0.41. Johnson & Johnson has a fifty-two week low of $140.68 and a fifty-two week high of $174.76.

Johnson & Johnson (NYSE:JNJ) last issued its 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. Johnson & Johnson had a return on equity of 32.49% and a net margin of 25.00%. The business had revenue of $23.74 billion for the quarter, compared to the consensus estimate of $22.85 billion. During the same period last year, the business posted $2.82 EPS. The company’s revenue was up 5.8% compared to the same quarter last year. As a group, analysts expect that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 9th. Stockholders of record on Tuesday, August 26th will be issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend is Tuesday, August 26th. Johnson & Johnson’s dividend payout ratio is presently 55.61%.

About Johnson & Johnson

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.