West Branch Capital LLC Acquires 688 Shares of Johnson & Johnson (NYSE:JNJ)

West Branch Capital LLC has recently increased its investment in Johnson & Johnson (NYSE:JNJ) by 2.8% during the third quarter of the year, according to Holdings Channel reports. After acquiring an additional 688 shares, the institutional investor now holds a total of 24,890 shares in the healthcare giant. This investment constitutes about 1.4% of West Branch Capital LLC's portfolio, making Johnson & Johnson the firm's 18th largest holding with a value of approximately $4,034,000 at the end of the most recent quarter.

Several other large investors have also adjusted their positions in Johnson & Johnson. For instance, &PARTNERS increased its stake in the company by a remarkable 51.5% in the first quarter. After acquiring an additional 10,856 shares, it now owns 31,942 shares valued at around $5,050,000. Similarly, Douglas Lane & Associates LLC raised its holdings by 4.7% during the same period, increasing its ownership to 545,254 shares worth $86,254,000 after purchasing an extra 24,686 shares. International Assets Investment Management LLC also increased its stake by 17.1%, now holding 15,614 shares valued at $2,464,000 after buying an additional 2,277 shares. Salem Investment Counselors Inc. reported a growth of 2.3% in its holdings, amounting to 178,529 shares valued at $28,242,000 after acquiring 4,050 additional shares. Cooper Financial Group also increased its position by 1.3%, now owning 9,682 shares valued at $1,532,000 after 126 additional shares were acquired. Notably, institutional investors collectively own 69.55% of Johnson & Johnson's stock.

Analysts' Insights on Johnson & Johnson

Johnson & Johnson has been the subject of various research reports in recent months. For example, Daiwa America downgraded the company from a “strong-buy” to a “hold” rating in a note published on July 23rd. In contrast, StockNews.com upgraded its rating from “buy” to “strong-buy” on September 14th. Analysts at Sanford C. Bernstein adjusted their price target for the shares, increasing it from $161.00 to $171.00 in a note dated July 18th. Citigroup also raised its price target from $180.00 to $185.00, assigning a “buy” rating on October 16th. Meanwhile, TD Securities modified its target from $195.00 to $185.00 on July 18th. Currently, six analysts have assigned a hold rating, while seven have given it a buy rating and one has classified it as a strong buy. As per MarketBeat, Johnson & Johnson holds an average rating of “Moderate Buy” with a consensus price target of $175.93.

Insider Activities

In other news, Robert J. Decker, the Vice President of Johnson & Johnson, sold 5,635 shares of the company’s stock on August 30th at an average price of $165.06, totaling approximately $930,113.10. Following this transaction, Decker retains ownership of 18,973 shares valued around $3,131,683.38. This sale reflects a minor adjustment in his stock ownership, and it has been disclosed in filings with the SEC. Currently, corporate insiders own about 0.16% of the stock.

Stock Performance Overview

As of October 21st, Johnson & Johnson's stock opened at $165.12. The company boasts a market capitalization of $397.39 billion, a price-to-earnings (P/E) ratio of 10.29, and a P/E to growth (P/E/G) ratio of 2.65, with a beta of 0.52. The stock has seen a 12-month low of $143.13 and a high of $168.85. The company reports a 50-day moving average of $162.98 and a two-hundred day moving average of $154.69. Its current ratio stands at 1.07, the quick ratio at 0.85, and the debt-to-equity ratio is noted at 0.44.

Quarterly Earnings Report

Johnson & Johnson recently reported its quarterly earnings on October 15th, revealing earnings per share of $2.42, surpassing analysts’ expectations of $2.21 by $0.21. The company achieved a net margin of 46.34% and a return on equity of 36.60%, with revenue reported at $22.47 billion, compared to the expected $22.17 billion. This marks a 5.2% increase in revenue compared to the same quarter of the previous year. Analysts anticipate that for the current fiscal year, the company will post a total EPS of $10.

Dividend Announcement

Moreover, Johnson & Johnson recently announced a quarterly dividend, set to be distributed on December 10th. Shareholders who are on record as of November 26th will receive a dividend payment of $1.24. The ex-dividend date is also November 26th. This amounts to an annualized dividend of $4.96, providing a yield of 3.00%. The company's current payout ratio stands at 30.92%.

Company Overview

Johnson & Johnson operates across the healthcare sector, engaging in research, development, manufacturing, and sales of a wide range of products. The company's Innovative Medicine segment focuses on various therapeutic areas, including immunology, infectious diseases, neuroscience, oncology, cardiovascular concerns, and more, making it a significant player in global healthcare.

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