Bay Harbor Wealth Management LLC Acquires New Position in Johnson & Johnson (NYSE:JNJ)

Bay Harbor Wealth Management LLC acquired a new stake in shares of Johnson & Johnson (NYSE:JNJ) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 223 shares of the company’s stock, valued at approximately $32,000.

Several other large investors also recently bought and sold shares of the business. State Street Corp grew its stake in Johnson & Johnson by 0.9% during the 3rd quarter. State Street Corp now owns 134,245,811 shares of the company’s stock valued at $21,755,874,000 after acquiring an additional 1,154,088 shares in the last quarter. Geode Capital Management LLC grew its stake in Johnson & Johnson by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 56,106,884 shares of the company’s stock valued at $9,064,149,000 after acquiring an additional 1,004,763 shares in the last quarter. FMR LLC boosted its holdings in Johnson & Johnson by 7.4% in the 3rd quarter. FMR LLC now owns 18,316,920 shares of the company’s stock valued at $2,968,440,000 after purchasing an additional 1,265,748 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Johnson & Johnson by 0.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 17,639,368 shares of the company’s stock valued at $2,858,543,000 after purchasing an additional 102,502 shares during the last quarter. Finally, Franklin Resources Inc. boosted its holdings in Johnson & Johnson by 11.4% in the 3rd quarter. Franklin Resources Inc. now owns 16,840,069 shares of the company’s stock valued at $2,721,355,000 after purchasing an additional 1,729,281 shares during the last quarter. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Price Performance

Shares of JNJ opened at $153.10 on Friday. Johnson & Johnson has a fifty-two week low of $140.68 and a fifty-two week high of $168.85. The firm’s 50 day moving average price is $147.46 and its 200 day moving average price is $156.06. The company has a market cap of $368.61 billion, a P/E ratio of 23.02, a PEG ratio of 2.44 and a beta of 0.52. The company has a quick ratio of 0.79, a current ratio of 1.03 and a debt-to-equity ratio of 0.45.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings data on Wednesday, January 22nd. The company reported $2.04 EPS for the quarter, beating analysts’ consensus estimates of $1.99 by $0.05. Johnson & Johnson had a net margin of 18.20% and a return on equity of 34.35%. The company had revenue of $22.52 billion for the quarter, compared to the consensus estimate of $22.44 billion. During the same period in the prior year, the firm posted $2.29 EPS. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. On average, research analysts forecast that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th will be given a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.24%. The ex-dividend date of this dividend is Tuesday, February 18th. Johnson & Johnson’s dividend payout ratio is presently 74.59%.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $181.00 target price on shares of Johnson & Johnson in a report on Thursday, January 23rd. Leerink Partners decreased their target price on shares of Johnson & Johnson from $182.00 to $169.00 and set an “outperform” rating on the stock in a report on Thursday, January 23rd. Bank of America decreased their target price on shares of Johnson & Johnson from $160.00 to $159.00 and set a “neutral” rating on the stock in a report on Thursday, January 23rd. Cantor Fitzgerald restated an “overweight” rating and issued a $215.00 price objective on shares of Johnson & Johnson in a report on Wednesday, October 16th. Finally, Stifel Nicolaus decreased their price objective on shares of Johnson & Johnson from $170.00 to $155.00 and set a “hold” rating on the stock in a report on Thursday, January 23rd. Nine research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $170.67.

Insider Buying and Selling at Johnson & Johnson

In related news, Director Mark A. Weinberger bought 1,000 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The shares were purchased at an average cost of $147.22 per share, with a total value of $147,220.00. Following the transaction, the director now directly owns 1,000 shares of the company’s stock, valued at approximately $147,220. This represents a ? increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.16% of the company’s stock.

Johnson & Johnson Company 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.