Sunburst Financial Group LLC Buys 85 Shares of Johnson & Johnson (NYSE:JNJ)

Sunburst Financial Group LLC boosted its stake in shares of Johnson & Johnson (NYSE:JNJ) by 1.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,189 shares of the company’s stock after purchasing an additional 85 shares during the period. Sunburst Financial Group LLC’s holdings in Johnson & Johnson were worth $819,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the stock. Dempze Nancy E boosted its position in Johnson & Johnson by 0.7% during the third quarter. Dempze Nancy E now owns 23,295 shares of the company’s stock worth $3,628,000 after purchasing an additional 155 shares during the period. Waverly Advisors LLC boosted its holdings in shares of Johnson & Johnson by 153.3% during the 3rd quarter. Waverly Advisors LLC now owns 53,016 shares of the company’s stock worth $8,257,000 after buying an additional 32,084 shares during the period. United Services Automobile Association grew its stake in Johnson & Johnson by 0.5% in the 3rd quarter. United Services Automobile Association now owns 691,445 shares of the company’s stock valued at $107,693,000 after buying an additional 3,522 shares during the last quarter. First Business Financial Services Inc. raised its holdings in Johnson & Johnson by 2.8% in the 3rd quarter. First Business Financial Services Inc. now owns 10,723 shares of the company’s stock valued at $1,670,000 after acquiring an additional 287 shares during the period. Finally, Fusion Capital LLC lifted its position in Johnson & Johnson by 5.9% during the third quarter. Fusion Capital LLC now owns 32,453 shares of the company’s stock worth $5,055,000 after acquiring an additional 1,800 shares during the last quarter. 69.55% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Royal Bank of Canada reiterated an “outperform” rating and set a $175.00 target price on shares of Johnson & Johnson in a research note on Monday, June 17th. StockNews.com downgraded Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 22nd. Morgan Stanley decreased their price target on shares of Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 17th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $215.00 price objective on shares of Johnson & Johnson in a research note on Thursday, June 20th. Finally, The Goldman Sachs Group assumed coverage on shares of Johnson & Johnson in a research report on Thursday, May 30th. They set a “neutral” rating and a $160.00 target price on the stock. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Johnson & Johnson currently has an average rating of “Hold” and an average price target of $174.07.

Johnson & Johnson Price Performance

Shares of JNJ traded up $0.86 during midday trading on Friday, hitting $146.66. The company’s stock had a trading volume of 1,580,115 shares, compared to its average volume of 7,347,045. The company has a quick ratio of 0.94, a current ratio of 1.17 and a debt-to-equity ratio of 0.36. Johnson & Johnson has a one year low of $143.13 and a one year high of $175.97. The stock has a market capitalization of $352.96 billion, a price-to-earnings ratio of 9.12, a price-to-earnings-growth ratio of 2.44 and a beta of 0.53. The company’s fifty day simple moving average is $148.17 and its two-hundred day simple moving average is $154.19.

Johnson & Johnson (NYSE:JNJ) last released its earnings results on Tuesday, April 16th. The company reported $2.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.64 by $0.07. Johnson & Johnson had a return on equity of 36.70% and a net margin of 45.26%. The firm had revenue of $21.38 billion for the quarter, compared to analysts’ expectations of $21.39 billion. During the same quarter in the previous year, the business posted $2.68 earnings per share. The business’s revenue for the quarter was up 2.3% on a year-over-year basis. As a group, equities analysts expect that Johnson & Johnson will post 10.62 earnings per share for the current fiscal year.

Johnson & Johnson Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 4th. Shareholders of record on Tuesday, May 21st were given a $1.24 dividend. The ex-dividend date of this dividend was Monday, May 20th. This represents a $4.96 dividend on an annualized basis and a yield of 3.38%. This is a positive change from Johnson & Johnson’s previous quarterly dividend of $1.19. Johnson & Johnson’s dividend payout ratio (DPR) is currently 30.92%.

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.