Harbour Investments Inc. Purchases 981 Shares of Johnson & Johnson (NYSE:JNJ)

Harbour Investments Inc. raised its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 3.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 28,073 shares of the company’s stock after acquiring an additional 981 shares during the quarter. Harbour Investments Inc.’s holdings in Johnson & Johnson were worth $4,103,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of JNJ. Christopher J. Hasenberg Inc bought a new position in shares of Johnson & Johnson during the 1st quarter valued at about $31,000. MFA Wealth Advisors LLC purchased a new position in Johnson & Johnson during the 2nd quarter valued at approximately $43,000. Vermillion & White Wealth Management Group LLC bought a new stake in Johnson & Johnson in the 4th quarter worth approximately $44,000. Disciplined Equity Management Inc. purchased a new stake in shares of Johnson & Johnson during the 4th quarter worth approximately $45,000. Finally, Grayhawk Investment Strategies Inc. boosted its position in shares of Johnson & Johnson by 528.6% during 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.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on JNJ shares. Sanford C. Bernstein upped their price target on shares of Johnson & Johnson from $161.00 to $171.00 in a research note on Thursday, July 18th. TD Cowen lowered their price target on shares of Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating for the company in a report on Thursday, July 18th. Cantor Fitzgerald reissued an “overweight” rating and set a $215.00 price objective on shares of Johnson & Johnson in a research note on Monday, August 5th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $175.00 price objective on shares of Johnson & Johnson in a research note on Tuesday, July 30th. Finally, Daiwa Capital Markets downgraded Johnson & Johnson from an “outperform” rating to a “neutral” rating and cut their target price for the company from $160.00 to $150.00 in a research report on Tuesday, July 23rd. Seven research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Johnson & Johnson currently has an average rating of “Moderate Buy” and a consensus target price of $173.21.

Johnson & Johnson Trading Down 1.0 %

Shares of JNJ traded down $1.66 during trading hours on Tuesday, reaching $162.95. 4,388,336 shares of the company traded hands, compared to its average volume of 7,282,063. The firm has a market cap of $392.17 billion, a price-to-earnings ratio of 10.16, a PEG ratio of 2.63 and a beta of 0.52. Johnson & Johnson has a 12-month low of $143.13 and a 12-month high of $166.21. The stock’s fifty day moving average price is $154.30 and its 200 day moving average price is $153.26. The company has a current ratio of 1.07, a quick ratio of 0.85 and a debt-to-equity ratio of 0.44.

Johnson & Johnson (NYSE:JNJ) last issued its earnings results on Wednesday, July 17th. The company reported $2.82 EPS for the quarter, topping analysts’ consensus estimates of $2.71 by $0.11. Johnson & Johnson had a net margin of 46.34% and a return on equity of 36.60%. The business had revenue of $22.45 billion for the quarter, compared to the consensus estimate of $22.33 billion. During the same period in the prior year, the firm earned $2.80 EPS. The company’s revenue for the quarter was up 4.3% compared to the same quarter last year. Sell-side analysts forecast that Johnson & Johnson will post 10.07 earnings per share for the current year.

Johnson & Johnson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 27th will be issued a $1.24 dividend. This represents a $4.96 annualized dividend and a dividend yield of 3.04%. The ex-dividend date is Tuesday, August 27th. Johnson & Johnson’s dividend payout ratio 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.