Sunburst Financial Group LLC Grows Position in Johnson & Johnson (NYSE:JNJ)

Sunburst Financial Group LLC raised its holdings in Johnson & Johnson (NYSE:JNJ) by 1.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor 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 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Thrive Wealth Management LLC lifted its holdings in Johnson & Johnson by 43.1% during the 1st quarter. Thrive Wealth Management LLC now owns 24,518 shares of the company’s stock worth $3,879,000 after purchasing an additional 7,383 shares in the last quarter. Procyon Advisors LLC increased its position in shares of Johnson & Johnson by 2.6% during the first quarter. Procyon Advisors LLC now owns 53,690 shares of the company’s stock valued at $8,493,000 after buying an additional 1,336 shares during the period. Cardinal Capital Management lifted its holdings in shares of Johnson & Johnson by 5.6% in the first quarter. Cardinal Capital Management now owns 106,239 shares of the company’s stock worth $16,806,000 after buying an additional 5,616 shares in the last quarter. ERn Financial LLC boosted its position in shares of Johnson & Johnson by 2.8% in the first quarter. ERn Financial LLC now owns 7,019 shares of the company’s stock valued at $1,110,000 after acquiring an additional 192 shares during the period. Finally, Franklin Street Advisors Inc. NC increased its holdings in Johnson & Johnson by 3.8% during the 1st quarter. Franklin Street Advisors Inc. NC now owns 62,000 shares of the company’s stock worth $9,808,000 after acquiring an additional 2,281 shares during the period. Institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Trading Up 0.6 %

Shares of JNJ traded up $0.86 during mid-day trading on Friday, reaching $146.66. The company’s stock had a trading volume of 1,580,115 shares, compared to its average volume of 7,347,045. Johnson & Johnson has a 52 week low of $143.13 and a 52 week high of $175.97. The stock has a market cap of $352.96 billion, a PE ratio of 9.12, a P/E/G ratio of 2.44 and a beta of 0.53. The company’s fifty day moving average price is $148.17 and its two-hundred day moving average price is $154.19. 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 posted its quarterly earnings results on Tuesday, April 16th. The company reported $2.71 earnings per share for the quarter, topping the consensus estimate of $2.64 by $0.07. Johnson & Johnson had a net margin of 45.26% and a return on equity of 36.70%. The business 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 firm posted $2.68 earnings per share. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. On average, analysts predict that Johnson & Johnson will post 10.62 earnings per share for the current fiscal year.

Johnson & Johnson Increases Dividend

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

Analyst Ratings Changes

Several research analysts have commented on the stock. Morgan Stanley cut 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 report on Wednesday, April 17th. Cantor Fitzgerald restated an “overweight” rating and set a $215.00 target price on shares of Johnson & Johnson in a research report on Thursday, June 20th. The Goldman Sachs Group began 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 cut shares of Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 22nd. Finally, Bank of America dropped their target price on shares of Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating for the company in a research report on Wednesday, April 17th. Eight analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $174.07.

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.