Horizon Bancorp Inc. IN Buys 459 Shares of Johnson & Johnson (NYSE:JNJ)

Horizon Bancorp Inc. IN raised its stake in shares of Johnson & Johnson (NYSE:JNJ) by 406.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 572 shares of the company’s stock after purchasing an additional 459 shares during the quarter. Horizon Bancorp Inc. IN’s holdings in Johnson & Johnson were worth $95,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of JNJ. Moran Wealth Management LLC lifted its holdings in shares of Johnson & Johnson by 18.9% in the 1st quarter. Moran Wealth Management LLC now owns 101,280 shares of the company’s stock worth $16,796,000 after acquiring an additional 16,115 shares during the last quarter. Fourth Dimension Wealth LLC raised its position in Johnson & Johnson by 5.4% in the 1st quarter. Fourth Dimension Wealth LLC now owns 1,953 shares of the company’s stock worth $324,000 after purchasing an additional 100 shares during the period. Symmetry Partners LLC lifted its stake in Johnson & Johnson by 15.2% in the first quarter. Symmetry Partners LLC now owns 5,728 shares of the company’s stock worth $950,000 after purchasing an additional 757 shares during the last quarter. Harbour Capital Advisors LLC boosted its position in Johnson & Johnson by 2.3% during the first quarter. Harbour Capital Advisors LLC now owns 5,383 shares of the company’s stock valued at $860,000 after buying an additional 120 shares during the period. Finally, Navis Wealth Advisors LLC bought a new position in shares of Johnson & Johnson during the first quarter valued at about $240,000. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Analysts Set New Price Targets

JNJ has been the subject of a number of recent research reports. The Goldman Sachs Group raised Johnson & Johnson from a “neutral” rating to a “buy” rating and boosted their target price for the company from $157.00 to $172.00 in a research note on Wednesday, April 9th. Bank of America lowered their price objective on Johnson & Johnson from $171.00 to $159.00 and set a “neutral” rating for the company in a research report on Thursday, April 10th. Benchmark upgraded shares of Johnson & Johnson to a “strong-buy” rating in a report on Thursday, April 24th. Leerink Partners lowered shares of Johnson & Johnson from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $169.00 to $153.00 in a report on Tuesday, May 13th. Finally, Wall Street Zen raised shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 21st. Eleven investment analysts have rated the stock with a hold rating, seven have given a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $170.88.

Johnson & Johnson Stock Up 0.1%

JNJ stock opened at $152.33 on Thursday. Johnson & Johnson has a fifty-two week low of $140.68 and a fifty-two week high of $169.99. The company has a market capitalization of $366.52 billion, a price-to-earnings ratio of 16.94, a price-to-earnings-growth ratio of 2.31 and a beta of 0.42. The business’s 50 day moving average price is $153.95 and its two-hundred day moving average price is $153.67. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.03 and a current ratio of 1.26.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings results on Tuesday, April 15th. The company reported $2.77 earnings per share for the quarter, topping the consensus estimate of $2.59 by $0.18. The company had revenue of $21.89 billion for the quarter, compared to analysts’ expectations of $21.65 billion. Johnson & Johnson had a return on equity of 33.46% and a net margin of 24.42%. As a group, analysts forecast that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Tuesday, May 27th were given a $1.30 dividend. The ex-dividend date of this dividend was Tuesday, May 27th. This is an increase from Johnson & Johnson’s previous quarterly dividend of $1.24. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.41%. Johnson & Johnson’s dividend payout ratio is currently 57.84%.

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.