Element Wealth LLC Has $329,000 Stock Position in Johnson & Johnson (NYSE:JNJ)

Element Wealth LLC increased its position in shares of Johnson & Johnson (NYSE:JNJ) by 6.8% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,030 shares of the company’s stock after purchasing an additional 129 shares during the quarter. Element Wealth LLC’s holdings in Johnson & Johnson were worth $329,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in JNJ. Innealta Capital LLC bought a new stake in Johnson & Johnson during the 2nd quarter worth about $27,000. Mowery & Schoenfeld Wealth Management LLC grew its holdings in Johnson & Johnson by 58.7% during the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 246 shares of the company’s stock worth $40,000 after acquiring an additional 91 shares during the last quarter. MFA Wealth Advisors LLC bought a new stake in Johnson & Johnson during the 2nd quarter worth about $43,000. Fairfield Financial Advisors LTD bought a new stake in Johnson & Johnson during the 2nd quarter worth about $46,000. Finally, Fairway Wealth LLC boosted its stake in shares of Johnson & Johnson by 217.1% in the 2nd quarter. Fairway Wealth LLC now owns 333 shares of the company’s stock valued at $49,000 after purchasing an additional 228 shares during the last quarter. Institutional investors and hedge funds own 69.55% of the company’s stock.

Johnson & Johnson Stock Performance

Shares of JNJ stock opened at $160.88 on Friday. 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 company has a market capitalization of $387.28 billion, a P/E ratio of 23.28, a price-to-earnings-growth ratio of 2.90 and a beta of 0.52. The company’s 50 day moving average price is $163.38 and its two-hundred day moving average price is $154.98. Johnson & Johnson has a 52 week low of $143.13 and a 52 week high of $168.85.

Johnson & Johnson (NYSE:JNJ) last announced its earnings results on Tuesday, October 15th. The company reported $2.42 EPS for the quarter, topping the consensus estimate of $2.21 by $0.21. The firm had revenue of $22.47 billion for the quarter, compared to the consensus estimate of $22.17 billion. Johnson & Johnson had a net margin of 19.14% and a return on equity of 35.46%. The business’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period last year, the company posted $2.66 EPS. On average, analysts expect that Johnson & Johnson will post 9.94 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 26th will be issued a $1.24 dividend. The ex-dividend date is Tuesday, November 26th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.08%. Johnson & Johnson’s dividend payout ratio (DPR) is presently 71.78%.

Insider Activity

In other news, VP Robert J. Decker sold 5,635 shares of Johnson & Johnson stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $165.06, for a total value of $930,113.10. Following the sale, the vice president now directly owns 18,973 shares in the company, valued at $3,131,683.38. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.16% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on JNJ shares. Morgan Stanley raised their target price on shares of Johnson & Johnson from $169.00 to $175.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. TD Securities reduced their target price on shares of Johnson & Johnson from $195.00 to $185.00 in a research note on Thursday, July 18th. The Goldman Sachs Group reduced their target price on shares of Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating on the stock in a research note on Friday, July 19th. Wells Fargo & Company increased their price target on shares of Johnson & Johnson from $163.00 to $166.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $215.00 price target on shares of Johnson & Johnson in a research report on Wednesday, October 16th. Six analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Johnson & Johnson presently has an average rating of “Moderate Buy” and a consensus target price of $175.93.

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.