Thrive Wealth Management LLC Buys 7,383 Shares of Johnson & Johnson (NYSE:JNJ)

Thrive Wealth Management LLC raised its stake in Johnson & Johnson (NYSE:JNJ) by 43.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 24,518 shares of the company’s stock after buying an additional 7,383 shares during the period. Johnson & Johnson comprises about 0.8% of Thrive Wealth Management LLC’s portfolio, making the stock its 14th biggest position. Thrive Wealth Management LLC’s holdings in Johnson & Johnson were worth $3,879,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in JNJ. Keener Financial Planning LLC acquired a new stake in Johnson & Johnson during the fourth quarter worth approximately $40,000. WFA Asset Management Corp boosted its holdings in shares of Johnson & Johnson by 61.4% during the 4th quarter. WFA Asset Management Corp now owns 255 shares of the company’s stock worth $40,000 after buying an additional 97 shares in the last quarter. Vermillion & White Wealth Management Group LLC bought a new stake in shares of Johnson & Johnson in the 4th quarter valued at $44,000. Disciplined Equity Management Inc. acquired a new position in shares of Johnson & Johnson during the 4th quarter valued at $45,000. Finally, Grayhawk Investment Strategies Inc. boosted its stake in Johnson & Johnson by 528.6% during the fourth quarter. Grayhawk Investment Strategies Inc. now owns 308 shares of the company’s stock worth $48,000 after acquiring an additional 259 shares in the last quarter. 69.55% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Bank of America dropped their price objective on shares of Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating on the stock in a report on Wednesday, April 17th. The Goldman Sachs Group started coverage on Johnson & Johnson in a report on Thursday, May 30th. They issued a “neutral” rating and a $160.00 price target on the stock. StockNews.com downgraded Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 22nd. Royal Bank of Canada reiterated an “outperform” rating and issued a $175.00 target price on shares of Johnson & Johnson in a report on Monday, June 17th. Finally, Morgan Stanley decreased their price target on shares of Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 17th. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Johnson & Johnson has an average rating of “Hold” and a consensus price target of $174.07.

Johnson & Johnson Stock Up 0.0 %

Johnson & Johnson stock opened at $145.87 on Friday. Johnson & Johnson has a fifty-two week low of $143.13 and a fifty-two week high of $175.97. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.94 and a current ratio of 1.17. The firm’s 50-day simple moving average is $148.17 and its 200 day simple moving average is $154.19. The stock has a market cap of $351.06 billion, a PE ratio of 9.09, a price-to-earnings-growth ratio of 2.44 and a beta of 0.53.

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

Johnson & Johnson Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 21st were given a dividend of $1.24 per share. The ex-dividend date of this dividend was Monday, May 20th. This is a positive change from Johnson & Johnson’s previous quarterly dividend of $1.19. This represents a $4.96 annualized dividend and a dividend yield of 3.40%. 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.