Joel Adams & Associates Inc. Buys New Stake in Johnson & Johnson (NYSE:JNJ)

Joel Adams & Associates Inc. purchased a new stake in Johnson & Johnson (NYSE:JNJ) in the 4th quarter, HoldingsChannel reports. The fund purchased 2,305 shares of the company’s stock, valued at approximately $333,000.

Several other hedge funds also recently added to or reduced their stakes in JNJ. Vinva Investment Management Ltd lifted its position in shares of Johnson & Johnson by 6.8% during the third quarter. Vinva Investment Management Ltd now owns 111,448 shares of the company’s stock worth $17,988,000 after purchasing an additional 7,110 shares in the last quarter. Financial Counselors Inc. increased its stake in Johnson & Johnson by 5.3% during the 3rd quarter. Financial Counselors Inc. now owns 185,093 shares of the company’s stock worth $29,996,000 after buying an additional 9,309 shares during the period. Oregon Pacific Wealth Management LLC acquired a new position in Johnson & Johnson in the 4th quarter worth $949,000. Meridian Investment Counsel Inc. boosted its position in Johnson & Johnson by 19.6% in the 3rd quarter. Meridian Investment Counsel Inc. now owns 22,629 shares of the company’s stock valued at $3,667,000 after buying an additional 3,710 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Johnson & Johnson by 0.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 17,639,368 shares of the company’s stock valued at $2,858,543,000 after acquiring an additional 102,502 shares in the last quarter. 69.55% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Johnson & Johnson news, Director Mark A. Weinberger purchased 1,000 shares of the stock in a transaction dated Thursday, December 12th. The shares were bought at an average cost of $147.22 per share, with a total value of $147,220.00. Following the completion of the acquisition, the director now owns 1,000 shares of the company’s stock, valued at approximately $147,220. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a 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 dated Tuesday, February 18th. The stock was sold at an average price of $156.15, for a total transaction of $62,928.45. Following the completion of the sale, the executive vice president now directly owns 15,098 shares of the company’s stock, valued at $2,357,552.70. The trade was a 2.60 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.16% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Morgan Stanley reduced their price target on Johnson & Johnson from $175.00 to $163.00 and set an “equal weight” rating for the company in a report on Thursday, January 23rd. Barclays increased their target price on Johnson & Johnson from $159.00 to $166.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 28th. Citigroup decreased their price target on shares of Johnson & Johnson from $185.00 to $175.00 and set a “buy” rating for the company in a research report on Wednesday, December 11th. Bank of America cut their price target on shares of Johnson & Johnson from $160.00 to $159.00 and set a “neutral” rating on the stock in a report on Thursday, January 23rd. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $181.00 price objective on shares of Johnson & Johnson in a report on Wednesday. Nine 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. Based on data from MarketBeat, Johnson & Johnson presently has a consensus rating of “Moderate Buy” and a consensus price target of $170.67.

Johnson & Johnson Stock Up 1.7 %

Shares of Johnson & Johnson stock opened at $162.35 on Friday. The stock has a market capitalization of $390.87 billion, a price-to-earnings ratio of 24.41, a PEG ratio of 2.53 and a beta of 0.52. Johnson & Johnson has a twelve month low of $140.68 and a twelve month high of $168.85. 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 business’s 50 day simple moving average is $148.93 and its 200-day simple moving average is $155.90.

Johnson & Johnson (NYSE:JNJ) last issued its earnings results on Wednesday, January 22nd. The company reported $2.04 earnings per share for the quarter, topping the consensus estimate of $1.99 by $0.05. The firm had revenue of $22.52 billion for the quarter, compared to analyst estimates of $22.44 billion. Johnson & Johnson had a return on equity of 34.24% and a net margin of 18.20%. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period last year, the company earned $2.29 earnings per share. Equities research analysts forecast 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 will be paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th will be paid a $1.24 dividend. The ex-dividend date is Tuesday, February 18th. This represents a $4.96 annualized dividend and a dividend yield of 3.06%. Johnson & Johnson’s payout ratio is currently 74.59%.

Johnson & Johnson 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.