SteelPeak Wealth LLC Has $12.61 Million Holdings in Johnson & Johnson (NYSE:JNJ)

SteelPeak Wealth LLC increased its stake in shares of Johnson & Johnson (NYSE:JNJ) by 9.6% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 77,813 shares of the company’s stock after acquiring an additional 6,786 shares during the period. SteelPeak Wealth LLC’s holdings in Johnson & Johnson were worth $12,610,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Diversify Wealth Management LLC raised its position in shares of Johnson & Johnson by 18.4% during the third quarter. Diversify Wealth Management LLC now owns 11,709 shares of the company’s stock worth $1,942,000 after acquiring an additional 1,822 shares during the last quarter. Pinnacle Associates Ltd. grew its stake in shares of Johnson & Johnson by 2.3% during the third quarter. Pinnacle Associates Ltd. now owns 1,307,304 shares of the company’s stock worth $204,907,000 after purchasing an additional 29,597 shares during the period. First Trust Direct Indexing L.P. grew its stake in shares of Johnson & Johnson by 16.4% during the third quarter. First Trust Direct Indexing L.P. now owns 62,877 shares of the company’s stock worth $10,190,000 after purchasing an additional 8,874 shares during the period. Twin Peaks Wealth Advisors LLC acquired a new position in Johnson & Johnson in the third quarter valued at about $286,000. Finally, Highline Wealth Partners LLC acquired a new position in Johnson & Johnson in the third quarter valued at about $31,000. Institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Stock Down 0.5 %

Shares of JNJ opened at $159.86 on Friday. Johnson & Johnson has a 52 week low of $143.13 and a 52 week high of $168.85. The stock has a market capitalization of $384.88 billion, a price-to-earnings ratio of 23.13, a PEG ratio of 2.90 and a beta of 0.52. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.85 and a current ratio of 1.07. The stock has a fifty day moving average of $163.39 and a 200-day moving average of $155.35.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings results on Tuesday, October 15th. The company reported $2.42 EPS for the quarter, beating analysts’ consensus estimates of $2.21 by $0.21. The company had revenue of $22.47 billion during the quarter, compared to analysts’ expectations of $22.17 billion. Johnson & Johnson had a return on equity of 35.46% and a net margin of 19.14%. Johnson & Johnson’s revenue was up 5.2% compared to the same quarter last year. During the same period in the prior year, the company earned $2.66 EPS. As a group, sell-side analysts anticipate that Johnson & Johnson will post 9.94 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 26th will be given a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a yield of 3.10%. The ex-dividend date is Tuesday, November 26th. Johnson & Johnson’s dividend payout ratio is currently 71.78%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Royal Bank of Canada upped their price objective on Johnson & Johnson from $178.00 to $181.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. StockNews.com upgraded Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 14th. Cantor Fitzgerald restated an “overweight” rating and issued a $215.00 price objective on shares of Johnson & Johnson in a research note on Wednesday, October 16th. Daiwa America lowered Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. Finally, TD Securities decreased their target price on Johnson & Johnson from $195.00 to $185.00 in a research report on Thursday, July 18th. Six investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Johnson & Johnson presently has an average rating of “Moderate Buy” and an average price target of $175.93.

Insider Transactions at Johnson & Johnson

In other news, VP Robert J. Decker sold 5,635 shares of Johnson & Johnson stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $165.06, for a total value of $930,113.10. Following the completion of the transaction, the vice president now directly owns 18,973 shares of the company’s stock, valued at approximately $3,131,683.38. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.16% of the company’s stock.

About Johnson & Johnson

Johnson & Johnson, together with its subsidiaries, researches, develops, manufactures, and sells various products in the healthcare field worldwide. The company's Innovative Medicine segment offers products for various therapeutic areas, such as immunology, including rheumatoid arthritis, psoriatic arthritis, inflammatory bowel disease, and psoriasis; infectious diseases comprising HIV/AIDS; neuroscience, consisting of mood disorders, neurodegenerative disorders, and schizophrenia; oncology, such as prostate cancer, hematologic malignancies, lung cancer, and bladder cancer; cardiovascular and metabolism, including thrombosis, diabetes, and macular degeneration; and pulmonary hypertension comprising pulmonary arterial hypertension through retailers, wholesalers, distributors, hospitals, and healthcare professionals for prescription use.