Agate Pass Investment Management LLC Grows Stock Holdings in Johnson & Johnson (NYSE:JNJ)

Agate Pass Investment Management LLC boosted its stake in shares of Johnson & Johnson (NYSE:JNJ) by 24.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 29,554 shares of the company’s stock after buying an additional 5,711 shares during the quarter. Johnson & Johnson accounts for approximately 2.1% of Agate Pass Investment Management LLC’s portfolio, making the stock its 11th largest holding. Agate Pass Investment Management LLC’s holdings in Johnson & Johnson were worth $4,901,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in JNJ. WealthTrak Capital Management LLC purchased a new position in Johnson & Johnson in the 4th quarter valued at approximately $26,000. Mountain Hill Investment Partners Corp. acquired a new stake in Johnson & Johnson in the fourth quarter valued at $29,000. Bay Harbor Wealth Management LLC purchased a new position in shares of Johnson & Johnson in the fourth quarter valued at $32,000. Conquis Financial LLC purchased a new position in shares of Johnson & Johnson in the fourth quarter valued at $33,000. Finally, Bernard Wealth Management Corp. acquired a new position in shares of Johnson & Johnson during the 4th quarter worth $36,000. 69.55% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently commented on JNJ shares. Morgan Stanley increased their price objective on shares of Johnson & Johnson from $164.00 to $169.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 16th. Leerink Partnrs lowered shares of Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 13th. Barclays cut their price objective on Johnson & Johnson from $166.00 to $165.00 and set an “equal weight” rating for the company in a research report on Thursday, April 17th. Raymond James lowered their target price on Johnson & Johnson from $165.00 to $162.00 and set an “outperform” rating on the stock in a report on Monday, April 14th. Finally, Benchmark raised Johnson & Johnson to a “strong-buy” rating in a report on Thursday, April 24th. Eleven research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $170.88.

Johnson & Johnson Stock Performance

Johnson & Johnson stock opened at $153.44 on Friday. The stock has a fifty day moving average price of $154.43 and a 200 day moving average price of $153.63. Johnson & Johnson has a 52 week low of $140.68 and a 52 week high of $169.99. The firm has a market capitalization of $369.19 billion, a P/E ratio of 23.07, a PEG ratio of 2.56 and a beta of 0.42. The company has a current ratio of 1.11, a quick ratio of 0.86 and a debt-to-equity ratio of 0.43.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings results on Tuesday, April 15th. The company reported $2.77 EPS for the quarter, beating the consensus estimate of $2.59 by $0.18. The company had revenue of $21.89 billion during the quarter, compared to analysts’ expectations of $21.65 billion. Johnson & Johnson had a return on equity of 34.24% and a net margin of 18.20%. Equities research analysts anticipate that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Tuesday, May 27th will be given a dividend of $1.30 per share. This is a positive change from Johnson & Johnson’s previous quarterly dividend of $1.24. The ex-dividend date of this dividend is Tuesday, May 27th. This represents a $5.20 annualized dividend and a yield of 3.39%. Johnson & Johnson’s dividend payout ratio is 57.84%.

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.