Bristlecone Advisors LLC Boosts Holdings in Johnson & Johnson (NYSE:JNJ)

Bristlecone Advisors LLC raised its position in Johnson & Johnson (NYSE:JNJ) by 1.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 47,122 shares of the company’s stock after acquiring an additional 587 shares during the quarter. Bristlecone Advisors LLC’s holdings in Johnson & Johnson were worth $7,815,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Highline Wealth Partners LLC grew its holdings in Johnson & Johnson by 51.8% during the 1st quarter. Highline Wealth Partners LLC now owns 252 shares of the company’s stock worth $42,000 after acquiring an additional 86 shares in the last quarter. von Borstel & Associates Inc. acquired a new position in Johnson & Johnson during the 1st quarter worth approximately $49,000. Harvest Fund Management Co. Ltd acquired a new position in Johnson & Johnson during the 1st quarter worth approximately $52,000. Capital A Wealth Management LLC purchased a new stake in shares of Johnson & Johnson during the 4th quarter worth approximately $50,000. Finally, Accredited Wealth Management LLC purchased a new stake in shares of Johnson & Johnson during the 4th quarter worth approximately $58,000. Institutional investors and hedge funds own 69.55% of the company’s stock.

Johnson & Johnson Price Performance

NYSE:JNJ opened at $171.41 on Friday. The firm has a market cap of $412.81 billion, a price-to-earnings ratio of 18.33, a price-to-earnings-growth ratio of 2.17 and a beta of 0.41. The company has a current ratio of 1.01, a quick ratio of 0.76 and a debt-to-equity ratio of 0.50. The company’s 50-day moving average is $158.89 and its two-hundred day moving average is $157.27. Johnson & Johnson has a 12-month low of $140.68 and a 12-month high of $172.18.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings data on Wednesday, July 16th. The company reported $2.77 earnings per share for the quarter, topping the consensus estimate of $2.68 by $0.09. The business had revenue of $23.74 billion for the quarter, compared to analyst estimates of $22.85 billion. Johnson & Johnson had a net margin of 25.00% and a return on equity of 32.49%. The company’s revenue was up 5.8% on a year-over-year basis. During the same period in the prior year, the firm posted $2.82 EPS. Research analysts expect that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 9th. Stockholders of record on Tuesday, August 26th will be paid a dividend of $1.30 per share. The ex-dividend date is Tuesday, August 26th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.0%. Johnson & Johnson’s dividend payout ratio (DPR) is currently 55.61%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on JNJ shares. UBS Group boosted their price objective on shares of Johnson & Johnson from $180.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, July 17th. Leerink Partnrs downgraded shares of Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 13th. Piper Sandler reiterated an “overweight” rating on shares of Johnson & Johnson in a research report on Thursday, July 17th. Raymond James Financial reduced their price target on shares of Johnson & Johnson from $165.00 to $162.00 and set an “outperform” rating for the company in a research report on Monday, April 14th. Finally, Bank of America boosted their price objective on shares of Johnson & Johnson from $161.00 to $175.00 and gave the company a “neutral” rating in a research note on Thursday, July 17th. Nine research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $174.50.

About Johnson & Johnson

Johnson & Johnson is a holding company, which engages in the research, development, manufacture, and sale of products in the healthcare field. It operates through the Innovative Medicine and MedTech segments. The Innovative Medicine segment focuses on immunology, infectious diseases, neuroscience, oncology, cardiovascular and metabolism, and pulmonary hypertension.