Vestcor Inc Grows Stock Position in Johnson & Johnson (NYSE:JNJ)

Vestcor Inc boosted its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 0.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 156,397 shares of the company’s stock after acquiring an additional 153 shares during the period. Johnson & Johnson comprises 0.8% of Vestcor Inc’s portfolio, making the stock its 21st largest holding. Vestcor Inc’s holdings in Johnson & Johnson were worth $25,346,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Summit Wealth Partners LLC lifted its stake in Johnson & Johnson by 0.6% in the 2nd quarter. Summit Wealth Partners LLC now owns 10,007 shares of the company’s stock valued at $1,463,000 after buying an additional 61 shares in the last quarter. Powers Advisory Group LLC lifted its position in shares of Johnson & Johnson by 0.6% in the third quarter. Powers Advisory Group LLC now owns 9,489 shares of the company’s stock valued at $1,538,000 after acquiring an additional 61 shares in the last quarter. Citizens & Northern Corp boosted its stake in shares of Johnson & Johnson by 3.5% during the second quarter. Citizens & Northern Corp now owns 1,884 shares of the company’s stock valued at $275,000 after acquiring an additional 63 shares during the last quarter. Eagle Wealth Strategies LLC increased its position in Johnson & Johnson by 2.8% during the 3rd quarter. Eagle Wealth Strategies LLC now owns 2,294 shares of the company’s stock worth $372,000 after purchasing an additional 63 shares in the last quarter. Finally, Epic Trust Investment Advisors LLC raised its stake in Johnson & Johnson by 3.6% in the 2nd quarter. Epic Trust Investment Advisors LLC now owns 1,831 shares of the company’s stock valued at $268,000 after purchasing an additional 64 shares during the last quarter. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on JNJ. Royal Bank of Canada lifted their price target on shares of Johnson & Johnson from $178.00 to $181.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $215.00 price target on shares of Johnson & Johnson in a report on Wednesday, October 16th. Guggenheim raised their price objective on Johnson & Johnson from $156.00 to $162.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. Wolfe Research initiated coverage on Johnson & Johnson in a research note on Friday, November 15th. They issued an “outperform” rating and a $190.00 target price for the company. Finally, Citigroup raised their price target on Johnson & Johnson from $180.00 to $185.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Seven research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $175.67.

Johnson & Johnson Trading Up 0.2 %

NYSE JNJ opened at $149.61 on Tuesday. The firm has a market capitalization of $360.20 billion, a price-to-earnings ratio of 21.65, a PEG ratio of 2.65 and a beta of 0.51. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.79 and a current ratio of 1.03. Johnson & Johnson has a one year low of $143.13 and a one year high of $168.85. The company’s 50 day moving average price is $157.84 and its 200 day moving average price is $156.40.

Johnson & Johnson (NYSE:JNJ) last issued its earnings results on Tuesday, October 15th. The company reported $2.42 EPS for the quarter, beating analysts’ consensus estimates of $2.21 by $0.21. Johnson & Johnson had a net margin of 19.14% and a return on equity of 35.45%. The business had revenue of $22.47 billion for the quarter, compared to the consensus estimate of $22.17 billion. During the same quarter last year, the firm posted $2.66 EPS. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. On average, sell-side analysts predict that Johnson & Johnson will post 9.93 EPS for the current year.

Johnson & Johnson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 26th will be paid a $1.24 dividend. The ex-dividend date is Tuesday, November 26th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.32%. Johnson & Johnson’s dividend payout ratio (DPR) is currently 71.78%.

About Johnson & Johnson

Johnson & Johnson, together with its subsidiaries, researches, develops, manufactures, and sells various products in the healthcare field worldwide. The company's Innovative Medicine segment offers products for various therapeutic areas, such as immunology, including rheumatoid arthritis, psoriatic arthritis, inflammatory bowel disease, and psoriasis; infectious diseases comprising HIV/AIDS; neuroscience, consisting of mood disorders, neurodegenerative disorders, and schizophrenia; oncology, such as prostate cancer, hematologic malignancies, lung cancer, and bladder cancer; cardiovascular and metabolism, including thrombosis, diabetes, and macular degeneration; and pulmonary hypertension comprising pulmonary arterial hypertension through retailers, wholesalers, distributors, hospitals, and healthcare professionals for prescription use.