Tarbox Family Office Inc. Grows Stock Position in Johnson & Johnson (NYSE:JNJ)

Tarbox Family Office Inc. increased its position in shares of Johnson & Johnson (NYSE:JNJ) by 24.6% during the 1st quarter, Holdings Channel.com reports. The fund owned 10,647 shares of the company’s stock after acquiring an additional 2,103 shares during the period. Tarbox Family Office Inc.’s holdings in Johnson & Johnson were worth $1,684,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. Pathway Financial Advisors LLC increased its holdings in Johnson & Johnson by 4.3% during the 4th quarter. Pathway Financial Advisors LLC now owns 5,438 shares of the company’s stock valued at $852,000 after acquiring an additional 226 shares in the last quarter. Daiwa Securities Group Inc. grew its position in shares of Johnson & Johnson by 5.5% during the fourth quarter. Daiwa Securities Group Inc. now owns 297,850 shares of the company’s stock worth $46,685,000 after buying an additional 15,490 shares in the last quarter. OneAscent Financial Services LLC raised its stake in Johnson & Johnson by 82.8% during the fourth quarter. OneAscent Financial Services LLC now owns 9,838 shares of the company’s stock valued at $1,542,000 after buying an additional 4,457 shares in the last quarter. Vestmark Advisory Solutions Inc. boosted its holdings in shares of Johnson & Johnson by 12.7% in the 4th quarter. Vestmark Advisory Solutions Inc. now owns 19,587 shares of the company’s stock valued at $3,070,000 after buying an additional 2,201 shares during the period. Finally, TrueMark Investments LLC bought a new stake in Johnson & Johnson in the fourth quarter valued at $1,458,000. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have issued reports on JNJ shares. Morgan Stanley cut their price objective on Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” 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 set a “neutral” rating and a $160.00 price target for the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $215.00 price objective on shares of Johnson & Johnson in a research note on Thursday, June 20th. Bank of America reduced their price target on shares of Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 17th. Finally, HSBC upgraded Johnson & Johnson from a “hold” rating to a “buy” rating and upped their price objective for the company from $169.00 to $170.00 in a report on Thursday, April 18th. Eight analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $174.07.

Johnson & Johnson Price Performance

Shares of NYSE:JNJ traded up $0.90 on Friday, reaching $146.70. 1,974,359 shares of the company were exchanged, compared to its average volume of 7,349,629. The company has a 50-day moving average of $148.17 and a 200-day moving average of $154.19. The firm has a market cap of $353.06 billion, a price-to-earnings ratio of 9.12, a price-to-earnings-growth ratio of 2.44 and a beta of 0.53. Johnson & Johnson has a 1-year low of $143.13 and a 1-year high of $175.97. The company has a current ratio of 1.17, a quick ratio of 0.94 and a debt-to-equity ratio of 0.36.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings data on Tuesday, April 16th. The company reported $2.71 earnings per share 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 during the quarter, compared to analyst estimates of $21.39 billion. During the same quarter last year, the firm earned $2.68 EPS. Johnson & Johnson’s quarterly revenue was up 2.3% on a year-over-year basis. Equities analysts forecast that Johnson & Johnson will post 10.62 earnings per share for the current fiscal year.

Johnson & Johnson Increases Dividend

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