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

Thrive Wealth Management LLC lifted its stake in Johnson & Johnson (NYSE:JNJ) by 43.1% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 24,518 shares of the company’s stock after buying an additional 7,383 shares during the quarter. Johnson & Johnson accounts for approximately 0.8% of Thrive Wealth Management LLC’s holdings, making the stock its 14th largest position. Thrive Wealth Management LLC’s holdings in Johnson & Johnson were worth $3,879,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Keener Financial Planning LLC purchased a new position in shares of Johnson & Johnson in the fourth quarter valued at $40,000. WFA Asset Management Corp grew its stake in shares of Johnson & Johnson by 61.4% in 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 worth about $44,000. Disciplined Equity Management Inc. purchased a new stake in shares of Johnson & Johnson during the 4th quarter valued at about $45,000. Finally, Grayhawk Investment Strategies Inc. lifted its holdings 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 acquiring an additional 259 shares during the last quarter. Institutional investors own 69.55% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on JNJ. StockNews.com cut Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 22nd. Morgan Stanley cut their target price on Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 17th. HSBC raised shares of Johnson & Johnson from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $169.00 to $170.00 in a research note on Thursday, April 18th. Cantor Fitzgerald reissued an “overweight” rating and issued a $215.00 target price on shares of Johnson & Johnson in a research note on Thursday, June 20th. Finally, The Goldman Sachs Group started coverage on shares of Johnson & Johnson in a research note on Thursday, May 30th. They set a “neutral” rating and a $160.00 price target for the company. Eight research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $174.07.

Johnson & Johnson Trading Up 0.0 %

JNJ opened at $145.87 on Friday. Johnson & Johnson has a 52 week low of $143.13 and a 52 week high of $175.97. The company has a market capitalization of $351.06 billion, a P/E ratio of 9.09, a PEG ratio of 2.44 and a beta of 0.53. The stock’s fifty day moving average is $148.17 and its two-hundred day moving average is $154.19. 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 (NYSE:JNJ) last released its quarterly earnings data on Tuesday, April 16th. The company reported $2.71 earnings per share for the quarter, beating the consensus estimate 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 the consensus estimate of $21.39 billion. During the same period in the previous year, the company posted $2.68 earnings per share. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. Analysts forecast that Johnson & Johnson will post 10.62 earnings per share for the current year.

Johnson & Johnson Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 21st were paid a dividend of $1.24 per share. The ex-dividend date of this dividend was Monday, May 20th. This is an increase from Johnson & Johnson’s previous quarterly dividend of $1.19. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.40%. Johnson & Johnson’s dividend payout ratio (DPR) is currently 30.92%.

Johnson & Johnson Profile

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.