Spire Wealth Management Reduces Holdings in Johnson & Johnson (NYSE:JNJ)

Spire Wealth Management decreased its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 7.3% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 22,958 shares of the company’s stock after selling 1,798 shares during the period. Spire Wealth Management’s holdings in Johnson & Johnson were worth $3,320,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. IFS Advisors LLC boosted its position in Johnson & Johnson by 138.9% in the fourth quarter. IFS Advisors LLC now owns 172 shares of the company’s stock valued at $25,000 after buying an additional 100 shares during the last quarter. Highline Wealth Partners LLC purchased a new stake in Johnson & Johnson in the third quarter valued at approximately $31,000. RPg Family Wealth Advisory LLC purchased a new stake in Johnson & Johnson in the third quarter valued at approximately $35,000. Mowery & Schoenfeld Wealth Management LLC boosted its position in Johnson & Johnson by 58.7% in the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 246 shares of the company’s stock valued at $40,000 after buying an additional 91 shares during the last quarter. Finally, Activest Wealth Management purchased a new stake in Johnson & Johnson in the third quarter valued at approximately $40,000. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Stock Up 1.1 %

Shares of NYSE:JNJ opened at $153.54 on Wednesday. The company has a quick ratio of 0.79, a current ratio of 1.03 and a debt-to-equity ratio of 0.45. The business has a fifty day moving average of $147.53 and a two-hundred day moving average of $156.10. The stock has a market cap of $369.66 billion, a P/E ratio of 23.09, a PEG ratio of 2.44 and a beta of 0.52. Johnson & Johnson has a 52-week low of $140.68 and a 52-week high of $168.85.

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

Johnson & Johnson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th will be issued a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date of this dividend is Tuesday, February 18th. Johnson & Johnson’s dividend payout ratio is presently 74.59%.

Analysts Set New Price Targets

A number of brokerages recently commented on JNJ. Guggenheim upped their target price on Johnson & Johnson from $162.00 to $166.00 and gave the company a “neutral” rating in a research report on Monday. Royal Bank of Canada reaffirmed an “outperform” rating and set a $181.00 target price on shares of Johnson & Johnson in a research note on Thursday, January 23rd. Barclays upped their target price on Johnson & Johnson from $159.00 to $166.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 28th. Morgan Stanley reduced their target price on Johnson & Johnson from $175.00 to $163.00 and set an “equal weight” rating for the company in a research note on Thursday, January 23rd. Finally, Wolfe Research assumed coverage on Johnson & Johnson in a research note on Friday, November 15th. They set an “outperform” rating and a $190.00 target price for the company. Nine investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Johnson & Johnson presently has a consensus rating of “Moderate Buy” and an average target price of $170.67.

Insider Transactions at Johnson & Johnson

In other news, Director Mark A. Weinberger bought 1,000 shares of the stock in a transaction that occurred on Thursday, December 12th. The stock was bought at an average cost of $147.22 per share, for a total transaction of $147,220.00. Following the acquisition, the director now directly owns 1,000 shares of the company’s stock, valued at $147,220. The trade was a ? increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.16% of the company’s stock.

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.