Summit Financial LLC Boosts Stock Holdings in Johnson & Johnson (NYSE:JNJ)

Summit Financial LLC lifted its stake in Johnson & Johnson (NYSE:JNJ) by 24.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 54,457 shares of the company’s stock after purchasing an additional 10,854 shares during the period. Summit Financial LLC’s holdings in Johnson & Johnson were worth $7,876,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of JNJ. Vanguard Group Inc. increased its holdings in Johnson & Johnson by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 232,792,559 shares of the company’s stock valued at $33,666,460,000 after buying an additional 1,772,706 shares during the last quarter. State Street Corp increased its holdings in shares of Johnson & Johnson by 0.9% in the 3rd quarter. State Street Corp now owns 134,245,811 shares of the company’s stock valued at $21,755,874,000 after acquiring an additional 1,154,088 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Johnson & Johnson by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 56,106,884 shares of the company’s stock worth $9,064,149,000 after acquiring an additional 1,004,763 shares in the last quarter. Norges Bank purchased a new stake in Johnson & Johnson during the fourth quarter worth approximately $4,390,037,000. Finally, Wellington Management Group LLP increased its stake in Johnson & Johnson by 1.8% in the fourth quarter. Wellington Management Group LLP now owns 24,356,572 shares of the company’s stock valued at $3,522,447,000 after purchasing an additional 431,205 shares during the last quarter. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Insider Buying and Selling

In other news, VP Robert J. Decker sold 6,999 shares of Johnson & Johnson stock in a transaction that occurred on 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 completion of the sale, the vice president now directly owns 21,001 shares in the company, valued at approximately $3,483,645.88. This trade 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 the SEC website. Also, EVP Timothy Schmid sold 403 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $156.15, for a total value of $62,928.45. Following the completion of the sale, the executive vice president now owns 15,098 shares in the company, valued at approximately $2,357,552.70. This represents a 2.60 % decrease in their position. The disclosure for this sale can be found here. 0.16% of the stock is owned by insiders.

Johnson & Johnson Price Performance

Shares of NYSE:JNJ opened at $163.63 on Monday. Johnson & Johnson has a 52 week low of $140.68 and a 52 week high of $169.99. The company has a 50-day moving average price of $158.68 and a 200 day moving average price of $156.07. The company has a market cap of $394.32 billion, a P/E ratio of 24.61, a PEG ratio of 2.56 and a beta of 0.47. The company has a quick ratio of 0.86, a current ratio of 1.11 and a debt-to-equity ratio of 0.43.

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

Johnson & Johnson Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th were paid a $1.24 dividend. This represents a $4.96 annualized dividend and a dividend yield of 3.03%. The ex-dividend date was Tuesday, February 18th. Johnson & Johnson’s dividend payout ratio (DPR) is 74.59%.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Morgan Stanley reduced their price objective on shares of Johnson & Johnson from $175.00 to $163.00 and set an “equal weight” rating for the company in a research report on Thursday, January 23rd. Wells Fargo & Company dropped 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. Raymond James reduced their target price on Johnson & Johnson from $170.00 to $165.00 and set an “outperform” rating for the company in a report on Thursday, January 23rd. Citigroup dropped their price target on Johnson & Johnson from $185.00 to $175.00 and set a “buy” rating on the stock in a research note on Wednesday, December 11th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $181.00 price objective on shares of Johnson & Johnson in a report on Wednesday, February 19th. Nine analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target 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.