West Coast Financial LLC Acquires 57,088 Shares of Johnson & Johnson (NYSE:JNJ)

West Coast Financial LLC increased its position in Johnson & Johnson (NYSE:JNJ) by 764.7% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 64,553 shares of the company’s stock after purchasing an additional 57,088 shares during the quarter. Johnson & Johnson accounts for 1.2% of West Coast Financial LLC’s portfolio, making the stock its 22nd biggest holding. West Coast Financial LLC’s holdings in Johnson & Johnson were worth $10,461,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of JNJ. Innealta Capital LLC bought a new stake in Johnson & Johnson during the second quarter worth $27,000. MFA Wealth Advisors LLC bought a new position in shares of Johnson & Johnson during the second quarter valued at about $43,000. Grayhawk Investment Strategies Inc. grew its position in Johnson & Johnson by 528.6% in the 4th quarter. Grayhawk Investment Strategies Inc. now owns 308 shares of the company’s stock worth $48,000 after purchasing an additional 259 shares in the last quarter. Fairfield Financial Advisors LTD bought a new position in Johnson & Johnson in the 2nd quarter valued at $46,000. Finally, Fairway Wealth LLC grew its position in Johnson & Johnson by 217.1% during the second quarter. Fairway Wealth LLC now owns 333 shares of the company’s stock valued at $49,000 after buying an additional 228 shares during the period. Institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Trading Up 0.9 %

JNJ traded up $1.40 on Friday, hitting $161.91. 1,778,479 shares of the company were exchanged, compared to its average volume of 7,021,891. The stock has a market capitalization of $389.76 billion, a PE ratio of 10.03, a price-to-earnings-growth ratio of 2.65 and a beta of 0.52. Johnson & Johnson has a 12 month low of $143.13 and a 12 month high of $168.85. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.85 and a current ratio of 1.07. The firm has a fifty day simple moving average of $162.64 and a two-hundred day simple moving average of $154.45.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings data on Wednesday, July 17th. The company reported $2.82 EPS for the quarter, topping the consensus estimate of $2.71 by $0.11. Johnson & Johnson had a net margin of 46.34% and a return on equity of 36.60%. The business had revenue of $22.45 billion during the quarter, compared to analyst estimates of $22.33 billion. During the same period in the prior year, the business earned $2.80 EPS. The company’s revenue for the quarter was up 4.3% on a year-over-year basis. Sell-side analysts expect that Johnson & Johnson will post 10 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Tuesday, August 27th were paid a $1.24 dividend. The ex-dividend date of this dividend was Tuesday, August 27th. This represents a $4.96 annualized dividend and a dividend yield of 3.06%. Johnson & Johnson’s payout ratio is 30.98%.

Insider Buying and Selling at Johnson & Johnson

In other news, VP Robert J. Decker sold 5,635 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $165.06, for a total transaction of $930,113.10. Following the sale, the vice president now owns 18,973 shares in the company, valued at $3,131,683.38. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.16% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on JNJ shares. TD Cowen lowered their target price on Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating on the stock in a research note on Thursday, July 18th. Daiwa Capital Markets lowered shares of Johnson & Johnson from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $160.00 to $150.00 in a research note on Tuesday, July 23rd. Daiwa America cut Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. Royal Bank of Canada increased their price objective on Johnson & Johnson from $175.00 to $178.00 and gave the stock an “outperform” rating in a report on Tuesday. Finally, The Goldman Sachs Group decreased their price target on Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating on the stock in a research report on Friday, July 19th. Seven equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $173.43.

About Johnson & Johnson

Johnson & Johnson, together with its subsidiaries, researches, develops, manufactures, and sells various products in the healthcare field worldwide. The company's Innovative Medicine segment offers products for various therapeutic areas, such as immunology, including rheumatoid arthritis, psoriatic arthritis, inflammatory bowel disease, and psoriasis; infectious diseases comprising HIV/AIDS; neuroscience, consisting of mood disorders, neurodegenerative disorders, and schizophrenia; oncology, such as prostate cancer, hematologic malignancies, lung cancer, and bladder cancer; cardiovascular and metabolism, including thrombosis, diabetes, and macular degeneration; and pulmonary hypertension comprising pulmonary arterial hypertension through retailers, wholesalers, distributors, hospitals, and healthcare professionals for prescription use.