West Branch Capital LLC Acquires Additional Shares of Johnson & Johnson

West Branch Capital LLC has increased its stake in Johnson & Johnson (NYSE: JNJ) by 2.8% during the third quarter of the year, as reported by Holdings Channel. The institutional investor now holds 24,890 shares, having acquired an additional 688 shares in the recent quarter. Johnson & Johnson accounts for around 1.4% of West Branch Capital LLC’s investment portfolio, marking it as the firm's 18th largest investment. At the end of the last quarter, the value of West Branch Capital LLC’s holdings in Johnson & Johnson was approximately $4,034,000.

Other institutional investors have also adjusted their positions concerning Johnson & Johnson recently. &PARTNERS boosted their holdings by 51.5% in the first quarter, resulting in ownership of 31,942 shares valued at $5,050,000 after acquiring an additional 10,856 shares. Douglas Lane & Associates LLC raised its stake by 4.7% during the same period, now owning 545,254 shares worth approximately $86,254,000 after buying an extra 24,686 shares. International Assets Investment Management LLC increased their shares by 17.1%, now possessing 15,614 shares valued at $2,464,000 following the purchase of 2,277 shares. Furthermore, Salem Investment Counselors Inc. grew their holdings by 2.3% to own 178,529 shares valued at around $28,242,000 after acquiring 4,050 additional shares. Cooper Financial Group increased their stake by 1.3% in the same quarter, resulting in ownership of 9,682 shares worth $1,532,000. In total, institutional investors hold approximately 69.55% of the company’s stock.

Analyst Perspectives on Johnson & Johnson

Johnson & Johnson has been subject to several analysts' ratings recently. Notably, Daiwa America downgraded the stock from “strong-buy” to “hold” on July 23rd. Meanwhile, StockNews.com upgraded Johnson & Johnson from a “buy” to a “strong-buy” rating on September 14th. Analysts at Sanford C. Bernstein raised their price target from $161.00 to $171.00 on July 18th. In a more recent report on October 16th, Citigroup increased their price target from $180.00 to $185.00 while maintaining a “buy” rating. Conversely, TD Securities lowered their target price from $195.00 to $185.00. In total, six analysts have assigned a hold rating, seven have given a buy rating, and one has issued a strong buy rating. MarketBeat notes that Johnson & Johnson currently holds an average rating of "Moderate Buy" with a consensus price target of $175.93.

Insider Trading Activity

In other developments, Vice President Robert J. Decker sold 5,635 shares of the company’s stock on August 30th for an average price of $165.06, resulting in a total transaction value of $930,113.10. Following this sale, Decker retains ownership of 18,973 shares which are valued at approximately $3,131,683.38. This transaction represents a minimal decrease in insider ownership, which currently amounts to 0.16% of the stock.

Johnson & Johnson Stock Overview

As for stock performance, shares of Johnson & Johnson opened at $165.12. The company boasts a market capitalization of $397.39 billion, with a P/E ratio of 10.29 and a P/E/G ratio of 2.65. Johnson & Johnson recorded a 12-month low of $143.13 and a high of $168.85. Its 50-day moving average is $162.98, and its 200-day average stands at $154.69. The company has a current ratio of 1.07, a quick ratio of 0.85, and a debt-to-equity ratio of 0.44.

On October 15th, Johnson & Johnson reported its quarterly earnings, revealing earnings per share of $2.42, surpassing analyst expectations of $2.21 by $0.21. The company recorded a net margin of 46.34% and a return on equity of 36.60%. The revenue for the quarter was $22.47 billion, exceeding the anticipated $22.17 billion. This indicates a 5.2% revenue increase year-over-year.

Upcoming Dividend Announcement

Recently, Johnson & Johnson announced a quarterly dividend that is set to be paid on December 10th. Shareholders on record as of November 26th will receive a dividend of $1.24. The ex-dividend date will also be on November 26th. This equates to an annualized dividend of $4.96, providing a yield of 3.00%. Currently, Johnson & Johnson's payout ratio stands at 30.92%.

Company Profile

Johnson & Johnson, along with its subsidiaries, is involved in the research, development, manufacturing, and sale of diverse healthcare products globally. Its Innovative Medicine segment offers treatments across multiple therapeutic areas, including immunology, infectious diseases, neuroscience, oncology, cardiovascular issues, and more, distributing through a range of platforms from retailers to healthcare professionals.

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