NewEdge Wealth LLC Raises Stock Holdings in Johnson & Johnson (NYSE:JNJ)

NewEdge Wealth LLC increased its position in Johnson & Johnson (NYSE:JNJ) by 8.3% during the 4th quarter, Holdings Channel reports. The institutional investor owned 203,057 shares of the company’s stock after purchasing an additional 15,503 shares during the period. NewEdge Wealth LLC’s holdings in Johnson & Johnson were worth $29,366,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Magnolia Private Wealth LLC purchased a new position in shares of Johnson & Johnson in the fourth quarter worth $202,000. Nelson Capital Management LLC increased its stake in shares of Johnson & Johnson by 10.9% in the fourth quarter. Nelson Capital Management LLC now owns 6,124 shares of the company’s stock worth $886,000 after buying an additional 601 shares during the period. Shayne & Jacobs LLC increased its position in Johnson & Johnson by 7.8% during the 4th quarter. Shayne & Jacobs LLC now owns 2,094 shares of the company’s stock valued at $303,000 after purchasing an additional 152 shares during the period. National Pension Service increased its position in Johnson & Johnson by 0.4% during the 4th quarter. National Pension Service now owns 4,586,490 shares of the company’s stock valued at $663,298,000 after purchasing an additional 18,836 shares during the period. Finally, Fjell Capital LLC purchased a new position in Johnson & Johnson during the 4th quarter valued at $898,000. 69.55% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Johnson & Johnson

In other Johnson & Johnson news, VP Robert J. Decker sold 6,999 shares of the company’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $165.88, for a total transaction of $1,160,994.12. Following the transaction, the vice president now owns 21,001 shares in the company, valued at approximately $3,483,645.88. This represents a 25.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mark A. Weinberger bought 1,000 shares of the stock in a transaction on Thursday, December 12th. The shares were bought at an average price of $147.22 per share, for a total transaction of $147,220.00. Following the purchase, the director now directly owns 1,000 shares in the company, valued at approximately $147,220. This trade represents a ? increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.16% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on JNJ shares. Wolfe Research started coverage on shares of Johnson & Johnson in a research report on Friday, November 15th. They set an “outperform” rating and a $190.00 price objective on the stock. Raymond James reduced their price objective on shares of Johnson & Johnson from $170.00 to $165.00 and set an “outperform” rating on the stock in a research report on Thursday, January 23rd. Citigroup reduced their price objective on shares of Johnson & Johnson from $185.00 to $175.00 and set a “buy” rating on the stock in a research report on Wednesday, December 11th. Wells Fargo & Company reduced their price objective on shares of Johnson & Johnson from $166.00 to $152.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 23rd. Finally, Bank of America reduced their target price on shares of Johnson & Johnson from $160.00 to $159.00 and set a “neutral” rating on the stock in a research report on Thursday, January 23rd. Nine equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $170.67.

Johnson & Johnson Stock Performance

Shares of Johnson & Johnson stock opened at $165.23 on Friday. The stock has a market cap of $397.81 billion, a price-to-earnings ratio of 24.85, a PEG ratio of 2.56 and a beta of 0.52. The firm’s 50-day moving average is $150.90 and its 200 day moving average is $156.06. Johnson & Johnson has a 1 year low of $140.68 and a 1 year high of $168.85. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.11 and a quick ratio of 0.86.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings results on Wednesday, January 22nd. The company reported $2.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.99 by $0.05. The company had revenue of $22.52 billion for the quarter, compared to analysts’ expectations of $22.44 billion. Johnson & Johnson had a net margin of 18.20% and a return on equity of 34.24%. Johnson & Johnson’s revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.29 EPS. Sell-side analysts anticipate that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th will be paid a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a yield of 3.00%. The ex-dividend date of this dividend is Tuesday, February 18th. Johnson & Johnson’s dividend payout ratio is currently 74.59%.

About Johnson & Johnson

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.