AlphaStar Capital Management LLC Has $2.91 Million Holdings in Johnson & Johnson (NYSE:JNJ)

AlphaStar Capital Management LLC grew its holdings in Johnson & Johnson (NYSE:JNJ) by 8.4% in the 2nd quarter, Holdings Channel reports. The fund owned 19,886 shares of the company’s stock after purchasing an additional 1,536 shares during the quarter. AlphaStar Capital Management LLC’s holdings in Johnson & Johnson were worth $2,907,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of JNJ. Christopher J. Hasenberg Inc bought a new position in Johnson & Johnson in the first quarter valued at approximately $31,000. MFA Wealth Advisors LLC acquired a new stake in shares of Johnson & Johnson during the second quarter worth $43,000. Vermillion & White Wealth Management Group LLC bought a new stake in Johnson & Johnson in the 4th quarter valued at $44,000. Disciplined Equity Management Inc. acquired a new position in Johnson & Johnson in the 4th quarter worth $45,000. Finally, Grayhawk Investment Strategies Inc. raised its stake in shares of Johnson & Johnson by 528.6% in the 4th quarter. Grayhawk Investment Strategies Inc. now owns 308 shares of the company’s stock valued at $48,000 after purchasing an additional 259 shares during the period. Institutional investors and hedge funds own 69.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on JNJ. Daiwa Capital Markets cut Johnson & Johnson from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $160.00 to $150.00 in a research report on Tuesday, July 23rd. Morgan Stanley raised their price target on shares of Johnson & Johnson from $167.00 to $169.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 18th. Daiwa America lowered shares of Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. TD Securities decreased their target price on shares of Johnson & Johnson from $195.00 to $185.00 in a research report on Thursday, July 18th. Finally, Sanford C. Bernstein boosted their price target on shares of Johnson & Johnson from $161.00 to $171.00 in a research report on Thursday, July 18th. Seven analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $173.21.

Johnson & Johnson Price Performance

NYSE:JNJ opened at $162.95 on Wednesday. The company has a quick ratio of 0.85, a current ratio of 1.07 and a debt-to-equity ratio of 0.44. Johnson & Johnson has a 12-month low of $143.13 and a 12-month high of $166.21. The stock’s 50 day moving average price is $154.30 and its two-hundred day moving average price is $153.26. The firm has a market capitalization of $392.17 billion, a price-to-earnings ratio of 10.16, a P/E/G ratio of 2.63 and a beta of 0.52.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings results on Wednesday, July 17th. The company reported $2.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.71 by $0.11. Johnson & Johnson had a return on equity of 36.60% and a net margin of 46.34%. The business had revenue of $22.45 billion during the quarter, compared to the consensus estimate of $22.33 billion. During the same quarter last year, the firm posted $2.80 EPS. The company’s quarterly revenue was up 4.3% on a year-over-year basis. On average, analysts anticipate that Johnson & Johnson will post 10.07 earnings per share for the current year.

Johnson & Johnson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 27th will be issued a $1.24 dividend. The ex-dividend date of this dividend is Tuesday, August 27th. This represents a $4.96 annualized dividend and a yield of 3.04%. Johnson & Johnson’s dividend payout ratio 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.