Summit Wealth & Retirement Planning Inc. Raises Stock Holdings in Johnson & Johnson (NYSE:JNJ)

Summit Wealth & Retirement Planning Inc. boosted its position in Johnson & Johnson (NYSE:JNJ) by 33.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,045 shares of the company’s stock after purchasing an additional 510 shares during the quarter. Summit Wealth & Retirement Planning Inc.’s holdings in Johnson & Johnson were worth $296,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

Several research firms recently issued reports on JNJ. Royal Bank of Canada reissued an “outperform” rating and issued a $181.00 target price on shares of Johnson & Johnson in a research report on Thursday, January 23rd. Wolfe Research started coverage on Johnson & Johnson in a research note on Friday, November 15th. They issued an “outperform” rating and a $190.00 price objective for the company. Stifel Nicolaus dropped their target price on Johnson & Johnson from $170.00 to $155.00 and set a “hold” rating on the stock in a research report on Thursday, January 23rd. Morgan Stanley reduced their price target 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. Finally, Guggenheim upped their price target on shares of Johnson & Johnson from $162.00 to $166.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Nine analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Johnson & Johnson presently has an average rating of “Moderate Buy” and a consensus price target of $170.67.

Insider Activity at Johnson & Johnson

In other Johnson & Johnson news, Director Mark A. Weinberger bought 1,000 shares of the company’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 acquisition, the director now directly owns 1,000 shares of the company’s stock, valued at $147,220. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.16% of the stock is owned by corporate insiders.

Johnson & Johnson Price Performance

Shares of NYSE JNJ opened at $156.18 on Wednesday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.79 and a current ratio of 1.03. The firm has a market cap of $376.02 billion, a PE ratio of 23.49, a PEG ratio of 2.46 and a beta of 0.52. Johnson & Johnson has a one year low of $140.68 and a one year high of $168.85. The firm has a fifty day moving average of $147.40 and a 200 day moving average of $156.04.

Johnson & Johnson (NYSE:JNJ) last released its quarterly 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. Johnson & Johnson had a net margin of 18.20% and a return on equity of 34.35%. The firm had revenue of $22.52 billion during the quarter, compared to the consensus estimate of $22.44 billion. During the same quarter in the prior year, the firm earned $2.29 EPS. The company’s revenue for the quarter was up 5.3% on a year-over-year basis. As a group, research analysts predict that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th will be given a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a dividend yield of 3.18%. The ex-dividend date is Tuesday, February 18th. Johnson & Johnson’s payout ratio is 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.