Greatmark Investment Partners Inc. Increases Stock Position in Johnson & Johnson $JNJ

Greatmark Investment Partners Inc. boosted its stake in Johnson & Johnson (NYSE:JNJ) by 2.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 120,464 shares of the company’s stock after purchasing an additional 3,166 shares during the quarter. Johnson & Johnson comprises approximately 2.3% of Greatmark Investment Partners Inc.’s portfolio, making the stock its 16th biggest holding. Greatmark Investment Partners Inc.’s holdings in Johnson & Johnson were worth $18,401,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of JNJ. Brighton Jones LLC raised its stake in Johnson & Johnson by 13.9% in the fourth quarter. Brighton Jones LLC now owns 51,876 shares of the company’s stock valued at $7,502,000 after purchasing an additional 6,332 shares in the last quarter. Wealth Group Ltd. purchased a new position in shares of Johnson & Johnson during the first quarter worth approximately $218,000. GAMMA Investing LLC raised its stake in shares of Johnson & Johnson by 48.0% during the first quarter. GAMMA Investing LLC now owns 43,508 shares of the company’s stock worth $7,215,000 after acquiring an additional 14,118 shares in the last quarter. Keudell Morrison Wealth Management raised its stake in shares of Johnson & Johnson by 0.7% during the first quarter. Keudell Morrison Wealth Management now owns 10,781 shares of the company’s stock worth $1,788,000 after acquiring an additional 76 shares in the last quarter. Finally, LaFleur & Godfrey LLC raised its stake in shares of Johnson & Johnson by 6.9% during the first quarter. LaFleur & Godfrey LLC now owns 138,853 shares of the company’s stock worth $23,027,000 after acquiring an additional 8,964 shares in the last quarter. 69.55% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Johnson & Johnson

In other news, EVP Jennifer L. Taubert sold 56,471 shares of the business’s stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $177.81, for a total transaction of $10,041,108.51. Following the sale, the executive vice president owned 178,013 shares in the company, valued at approximately $31,652,491.53. The trade was a 24.08% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.16% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on JNJ. Sanford C. Bernstein lifted their price target on shares of Johnson & Johnson from $172.00 to $193.00 and gave the stock a “market perform” rating in a research note on Monday, October 6th. Wells Fargo & Company set a $212.00 target price on shares of Johnson & Johnson and gave the stock an “overweight” rating in a report on Friday, October 3rd. Cowen restated a “buy” rating on shares of Johnson & Johnson in a report on Tuesday, October 14th. Piper Sandler restated an “overweight” rating on shares of Johnson & Johnson in a report on Thursday, July 17th. Finally, Barclays raised their target price on shares of Johnson & Johnson from $165.00 to $176.00 and gave the stock an “equal weight” rating in a report on Thursday, July 17th. Three equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat, Johnson & Johnson presently has a consensus rating of “Moderate Buy” and a consensus price target of $199.05.

Johnson & Johnson Stock Performance

NYSE:JNJ opened at $192.31 on Friday. The stock has a market cap of $463.15 billion, a P/E ratio of 18.56, a price-to-earnings-growth ratio of 2.27 and a beta of 0.40. The firm’s fifty day simple moving average is $181.99 and its 200 day simple moving average is $165.84. Johnson & Johnson has a twelve month low of $140.68 and a twelve month high of $194.48. The company has a quick ratio of 0.76, a current ratio of 1.01 and a debt-to-equity ratio of 0.50.

Johnson & Johnson (NYSE:JNJ) last announced its earnings results on Wednesday, August 30th. The company reported $2.26 EPS for the quarter. Johnson & Johnson had a net margin of 27.26% and a return on equity of 33.08%. The firm had revenue of $24.02 billion for the quarter. As a group, research analysts predict that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 9th. Stockholders of record on Tuesday, November 25th will be issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date is Tuesday, November 25th. Johnson & Johnson’s payout ratio is 50.19%.

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.