Destination Wealth Management Increases Position in Johnson & Johnson (NYSE:JNJ)

Destination Wealth Management boosted its stake in Johnson & Johnson (NYSE:JNJ) by 1.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 271,859 shares of the company’s stock after purchasing an additional 3,322 shares during the quarter. Johnson & Johnson comprises approximately 1.2% of Destination Wealth Management’s holdings, making the stock its 26th largest holding. Destination Wealth Management’s holdings in Johnson & Johnson were worth $39,316,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. IFS Advisors LLC grew its stake in shares of Johnson & Johnson by 138.9% during 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. RPg Family Wealth Advisory LLC purchased a new position in Johnson & Johnson during the third quarter valued at approximately $35,000. Bay Harbor Wealth Management LLC bought a new stake in Johnson & Johnson during the fourth quarter valued at about $32,000. Activest Wealth Management purchased a new position in shares of Johnson & Johnson in the 3rd quarter worth approximately $40,000. Finally, NewSquare Capital LLC lifted its holdings in shares of Johnson & Johnson by 145.8% during the 4th quarter. NewSquare Capital LLC now owns 290 shares of the company’s stock valued at $42,000 after purchasing an additional 172 shares during the last quarter. 69.55% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Johnson & Johnson

In related news, Director Mark A. Weinberger acquired 1,000 shares of the business’s stock in a transaction dated Thursday, December 12th. The stock was acquired at an average price of $147.22 per share, with a total value of $147,220.00. Following the completion of the transaction, the director now owns 1,000 shares of the company’s stock, valued at approximately $147,220. This represents a ? increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Timothy Schmid sold 403 shares of Johnson & Johnson stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $156.15, for a total transaction of $62,928.45. Following the sale, the executive vice president now owns 15,098 shares in the company, valued at approximately $2,357,552.70. This trade represents a 2.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.16% of the stock is currently owned by company insiders.

Johnson & Johnson Stock Performance

JNJ opened at $166.81 on Friday. Johnson & Johnson has a twelve month low of $140.68 and a twelve month high of $169.99. The business’s 50 day moving average is $152.95 and its 200-day moving average is $156.30. The company has a current ratio of 1.11, a quick ratio of 0.86 and a debt-to-equity ratio of 0.43. The stock has a market cap of $401.61 billion, a PE ratio of 25.08, a price-to-earnings-growth ratio of 2.56 and a beta of 0.47.

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

Johnson & Johnson Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th were issued a dividend of $1.24 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $4.96 annualized dividend and a dividend yield of 2.97%. Johnson & Johnson’s dividend payout ratio is 74.59%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. StockNews.com raised shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Saturday, January 25th. Citigroup decreased their target price on Johnson & Johnson from $185.00 to $175.00 and set a “buy” rating on the stock in a research report on Wednesday, December 11th. Barclays lifted their price target 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. Wells Fargo & Company decreased their target price on shares of Johnson & Johnson from $166.00 to $152.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 23rd. Finally, Stifel Nicolaus cut their price objective on shares of Johnson & Johnson from $170.00 to $155.00 and set a “hold” rating for the company in a research report on Thursday, January 23rd. Nine investment 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $171.33.

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.