Scissortail Wealth Management LLC Has $4.94 Million Holdings in Johnson & Johnson (NYSE:JNJ)

Scissortail Wealth Management LLC grew its stake in Johnson & Johnson (NYSE:JNJ) by 37.2% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,813 shares of the company’s stock after purchasing an additional 8,087 shares during the quarter. Johnson & Johnson makes up about 1.3% of Scissortail Wealth Management LLC’s holdings, making the stock its 27th largest position. Scissortail Wealth Management LLC’s holdings in Johnson & Johnson were worth $4,944,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently bought and sold shares of JNJ. Highline Wealth Partners LLC raised its stake in Johnson & Johnson by 51.8% in the 1st quarter. Highline Wealth Partners LLC now owns 252 shares of the company’s stock valued at $42,000 after acquiring an additional 86 shares during the period. von Borstel & Associates Inc. bought a new stake in Johnson & Johnson during the 1st quarter worth approximately $49,000. Capital A Wealth Management LLC purchased a new stake in shares of Johnson & Johnson in the fourth quarter worth $50,000. Harvest Fund Management Co. Ltd purchased a new position in shares of Johnson & Johnson during the first quarter worth about $52,000. Finally, Accredited Wealth Management LLC bought a new position in shares of Johnson & Johnson in the 4th quarter worth $58,000. 69.55% of the stock is owned by hedge funds and other institutional investors.

Johnson & Johnson Price Performance

Shares of Johnson & Johnson stock opened at $173.40 on Friday. Johnson & Johnson has a one year low of $140.68 and a one year high of $173.96. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.76 and a current ratio of 1.01. The stock has a market cap of $417.61 billion, a P/E ratio of 18.55, a P/E/G ratio of 2.21 and a beta of 0.41. The stock’s fifty day moving average is $159.26 and its 200 day moving average is $157.52.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings results on Wednesday, July 16th. The company reported $2.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.68 by $0.09. The business had revenue of $23.74 billion during the quarter, compared to analyst estimates of $22.85 billion. Johnson & Johnson had a return on equity of 32.49% and a net margin of 25.00%. Johnson & Johnson’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.82 EPS. Sell-side analysts anticipate that Johnson & Johnson will post 10.58 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 9th. Shareholders of record on Tuesday, August 26th will be paid a $1.30 dividend. The ex-dividend date is Tuesday, August 26th. This represents a $5.20 annualized dividend and a yield of 3.0%. Johnson & Johnson’s payout ratio is presently 55.61%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Benchmark raised shares of Johnson & Johnson to a “strong-buy” rating in a research note on Thursday, April 24th. Wall Street Zen lowered shares of Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a report on Friday, July 18th. Piper Sandler restated an “overweight” rating on shares of Johnson & Johnson in a research report on Thursday, July 17th. Barclays raised their target price on shares of Johnson & Johnson from $165.00 to $176.00 and gave the company an “equal weight” rating in a research note on Thursday, July 17th. Finally, Morgan Stanley upped their price target on shares of Johnson & Johnson from $171.00 to $176.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 17th. Nine analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Johnson & Johnson has an average rating of “Moderate Buy” and an average target price of $174.50.

Johnson & Johnson Profile

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.