Johnson & Johnson (NYSE:JNJ) Shares Bought by Modern Wealth Management LLC

Modern Wealth Management LLC grew its stake in Johnson & Johnson (NYSE:JNJ) by 35.6% in the fourth quarter, Holdings Channel reports. The fund owned 33,386 shares of the company’s stock after purchasing an additional 8,769 shares during the period. Modern Wealth Management LLC’s holdings in Johnson & Johnson were worth $5,149,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of JNJ. Principal Financial Group Inc. increased its stake in Johnson & Johnson by 10.5% during the third quarter. Principal Financial Group Inc. now owns 3,472,312 shares of the company’s stock worth $562,723,000 after acquiring an additional 329,473 shares during the last quarter. United Bank increased its position in shares of Johnson & Johnson by 5.6% during the third quarter. United Bank now owns 3,788 shares of the company’s stock valued at $614,000 after acquiring an additional 202 shares during the last quarter. Landscape Capital Management L.L.C. acquired a new stake in Johnson & Johnson in the 3rd quarter valued at approximately $365,000. Algert Global LLC purchased a new stake in Johnson & Johnson in the third quarter valued at approximately $721,000. Finally, Cahill Financial Advisors Inc. lifted its stake in Johnson & Johnson by 12.8% during the third quarter. Cahill Financial Advisors Inc. now owns 4,038 shares of the company’s stock worth $654,000 after purchasing an additional 459 shares in the last quarter. Institutional investors and hedge funds own 69.55% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on JNJ shares. Wells Fargo & Company cut their price objective on Johnson & Johnson from $166.00 to $152.00 and set an “equal weight” rating on the stock in a report on Thursday, January 23rd. Citigroup reduced their price target 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. StockNews.com upgraded shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Saturday, January 25th. Leerink Partners decreased their price target on shares of Johnson & Johnson from $182.00 to $169.00 and set an “outperform” rating for the company in a research report on Thursday, January 23rd. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $181.00 target price on shares of Johnson & Johnson in a report on Wednesday, February 19th. Nine investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Johnson & Johnson currently has an average rating of “Moderate Buy” and an average target price of $171.33.

Insiders Place Their Bets

In related news, EVP Timothy Schmid sold 403 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $156.15, for a total value of $62,928.45. Following the transaction, the executive vice president now owns 15,098 shares in the company, valued at $2,357,552.70. The trade was a 2.60 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Robert J. Decker sold 6,999 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $165.88, for a total value of $1,160,994.12. Following the completion of the transaction, the vice president now directly owns 21,001 shares in the company, valued at approximately $3,483,645.88. The trade was a 25.00 % decrease in their position. The disclosure for this sale can be found here. 0.16% of the stock is currently owned by insiders.

Johnson & Johnson Price Performance

Shares of JNJ opened at $163.43 on Tuesday. The firm has a fifty day moving average price of $157.37 and a 200 day moving average price of $156.16. The stock has a market cap of $393.83 billion, a PE ratio of 24.58, a price-to-earnings-growth ratio of 2.56 and a beta of 0.47. Johnson & Johnson has a 1-year low of $140.68 and a 1-year high of $169.99. 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 released 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. Johnson & Johnson had a return on equity of 34.24% and a net margin of 18.20%. The firm had revenue of $22.52 billion for the quarter, compared to the consensus estimate of $22.44 billion. During the same quarter last year, the business posted $2.29 EPS. The firm’s quarterly revenue was up 5.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th were paid a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date was 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.