Sector Gamma AS Grows Holdings in Johnson & Johnson (NYSE:JNJ)

Sector Gamma AS grew its stake in shares of Johnson & Johnson (NYSE:JNJ) by 25.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 98,000 shares of the company’s stock after buying an additional 20,000 shares during the period. Johnson & Johnson accounts for about 5.2% of Sector Gamma AS’s investment portfolio, making the stock its 6th largest position. Sector Gamma AS’s holdings in Johnson & Johnson were worth $16,252,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Highline Wealth Partners LLC grew its holdings 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 valued at $42,000 after purchasing an additional 86 shares in the last quarter. Stone House Investment Management LLC purchased a new position in shares of Johnson & Johnson in the first quarter valued at $47,000. von Borstel & Associates Inc. purchased a new position in shares of Johnson & Johnson in the first quarter valued at $49,000. Harvest Fund Management Co. Ltd purchased a new position in shares of Johnson & Johnson in the first quarter valued at $52,000. Finally, Capital A Wealth Management LLC purchased a new position in shares of Johnson & Johnson in the fourth quarter valued at $50,000. Institutional investors own 69.55% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on JNJ. Bank of America raised their target price on shares of Johnson & Johnson from $161.00 to $175.00 and gave the company a “neutral” rating in a report on Thursday, July 17th. Royal Bank Of Canada raised their target price on shares of Johnson & Johnson from $181.00 to $185.00 and gave the company an “outperform” rating in a report on Thursday, July 17th. Guggenheim reaffirmed a “neutral” rating and set a $167.00 price objective (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 research note on Thursday, July 17th. Finally, Benchmark raised shares of Johnson & Johnson to a “strong-buy” rating in a research note on Thursday, April 24th. Nine equities 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 stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $174.50.

Johnson & Johnson Stock Up 0.3%

Shares of JNJ opened at $174.96 on Friday. The firm has a market capitalization of $421.37 billion, a P/E ratio of 18.71, a P/E/G ratio of 2.22 and a beta of 0.41. Johnson & Johnson has a 12-month low of $140.68 and a 12-month high of $175.72. 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 fifty day moving average price of $160.85 and a 200-day moving average price of $158.16.

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

Johnson & Johnson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 9th. Stockholders 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 3.0%. The ex-dividend date of this dividend is Tuesday, August 26th. Johnson & Johnson’s payout ratio is currently 55.61%.

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.