Granite Harbor Advisors Inc. Boosts Holdings in Johnson & Johnson $JNJ

Granite Harbor Advisors Inc. boosted its position in shares of Johnson & Johnson (NYSE:JNJ) by 5.6% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,334 shares of the company’s stock after acquiring an additional 545 shares during the period. Granite Harbor Advisors Inc.’s holdings in Johnson & Johnson were worth $1,579,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Freedom Investment Management Inc. lifted its position in Johnson & Johnson by 3.4% during the second quarter. Freedom Investment Management Inc. now owns 9,055 shares of the company’s stock valued at $1,383,000 after acquiring an additional 295 shares during the last quarter. Forum Financial Management LP lifted its position in Johnson & Johnson by 4.3% during the second quarter. Forum Financial Management LP now owns 33,429 shares of the company’s stock valued at $5,106,000 after acquiring an additional 1,372 shares during the last quarter. Ethic Inc. lifted its position in Johnson & Johnson by 8.8% during the second quarter. Ethic Inc. now owns 59,855 shares of the company’s stock valued at $9,122,000 after acquiring an additional 4,823 shares during the last quarter. Greatmark Investment Partners Inc. lifted its position in Johnson & Johnson by 2.7% during the second quarter. Greatmark Investment Partners Inc. now owns 120,464 shares of the company’s stock valued at $18,401,000 after acquiring an additional 3,166 shares during the last quarter. Finally, Birch Hill Investment Advisors LLC raised its holdings in shares of Johnson & Johnson by 0.8% in the second quarter. Birch Hill Investment Advisors LLC now owns 151,350 shares of the company’s stock worth $23,119,000 after buying an additional 1,240 shares during the last quarter. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Wells Fargo & Company set a $212.00 price target on shares of Johnson & Johnson and gave the stock an “overweight” rating in a report on Friday, October 3rd. Morgan Stanley set a $190.00 price target on shares of Johnson & Johnson in a report on Wednesday, October 15th. Bank of America raised their price target on shares of Johnson & Johnson from $198.00 to $204.00 and gave the stock a “neutral” rating in a report on Wednesday, October 15th. Raymond James Financial raised their price target on shares of Johnson & Johnson from $174.00 to $209.00 and gave the stock an “outperform” rating in a report on Wednesday, October 15th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $209.00 price target on shares of Johnson & Johnson in a report on Friday, October 10th. Three equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $199.05.

Johnson & Johnson Stock Down 0.3%

NYSE:JNJ opened at $192.31 on Friday. The firm has a market capitalization of $463.15 billion, a P/E ratio of 18.56, a PEG ratio of 2.27 and a beta of 0.40. Johnson & Johnson has a 1-year low of $140.68 and a 1-year high of $194.48. The company’s fifty day moving average price is $181.99 and its 200-day moving average price is $165.84. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.01 and a quick ratio of 0.76.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings data on Wednesday, August 30th. The company reported $2.26 earnings per share for the quarter. The firm had revenue of $24.02 billion for the quarter. Johnson & Johnson had a net margin of 27.26% and a return on equity of 33.08%. As a group, equities research analysts anticipate that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 9th. Stockholders of record on Tuesday, November 25th will be paid a $1.30 dividend. The ex-dividend date is Tuesday, November 25th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 2.7%. Johnson & Johnson’s dividend payout ratio is presently 50.19%.

Insider Buying and Selling

In related news, EVP Jennifer L. Taubert sold 56,471 shares of the firm’s stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $177.81, for a total transaction of $10,041,108.51. Following the sale, the executive vice president owned 178,013 shares in the company, valued at approximately $31,652,491.53. This trade represents a 24.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.16% of the company’s stock.

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.