Innova Wealth Partners Buys New Stake in Johnson & Johnson (NYSE:JNJ)

Innova Wealth Partners purchased a new stake in shares of Johnson & Johnson (NYSE:JNJ) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 2,874 shares of the company’s stock, valued at approximately $416,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. International Assets Investment Management LLC raised its holdings in Johnson & Johnson by 20,130.0% in the 3rd quarter. International Assets Investment Management LLC now owns 3,454,473 shares of the company’s stock worth $559,832,000 after purchasing an additional 3,437,397 shares during the period. Marshall Wace LLP increased its position in shares of Johnson & Johnson by 506.9% in the second quarter. Marshall Wace LLP now owns 3,884,962 shares of the company’s stock valued at $567,826,000 after buying an additional 3,244,862 shares in the last quarter. Janus Henderson Group PLC raised its stake in shares of Johnson & Johnson by 228.1% during the 3rd quarter. Janus Henderson Group PLC now owns 3,389,361 shares of the company’s stock worth $549,223,000 after buying an additional 2,356,359 shares during the period. Massachusetts Financial Services Co. MA lifted its position in shares of Johnson & Johnson by 10.8% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 18,780,645 shares of the company’s stock valued at $2,744,979,000 after buying an additional 1,831,751 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Johnson & Johnson by 16.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 13,147,352 shares of the company’s stock valued at $1,921,565,000 after acquiring an additional 1,829,257 shares during the period. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Insiders Place Their Bets

In other news, Director Mark A. Weinberger purchased 1,000 shares of the firm’s stock in a transaction on Thursday, December 12th. The shares were bought at an average cost of $147.22 per share, for a total transaction of $147,220.00. Following the completion of the purchase, the director now directly 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 legal filing with the Securities & Exchange Commission, which is available at this link. 0.16% of the stock is currently owned by insiders.

Johnson & Johnson Stock Performance

NYSE:JNJ opened at $146.19 on Wednesday. The company’s 50-day moving average is $150.75 and its two-hundred day moving average is $156.23. Johnson & Johnson has a 1-year low of $142.75 and a 1-year high of $168.85. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.03 and a quick ratio of 0.79. The firm has a market capitalization of $351.97 billion, a price-to-earnings ratio of 21.16, a PEG ratio of 2.52 and a beta of 0.51.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings data on Tuesday, October 15th. The company reported $2.42 EPS for the quarter, beating analysts’ consensus estimates of $2.21 by $0.21. Johnson & Johnson had a return on equity of 35.45% and a net margin of 19.14%. The firm had revenue of $22.47 billion for the quarter, compared to analysts’ expectations of $22.17 billion. During the same period in the prior year, the firm posted $2.66 earnings per share. The firm’s quarterly revenue was up 5.2% on a year-over-year basis. Analysts forecast that Johnson & Johnson will post 9.94 EPS for the current year.

Johnson & Johnson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th will be given a $1.24 dividend. The ex-dividend date is Tuesday, February 18th. This represents a $4.96 dividend on an annualized basis and a yield of 3.39%. Johnson & Johnson’s payout ratio is currently 71.78%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Citigroup reduced their price objective 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 reaffirmed a “neutral” rating and issued a $166.00 price target on shares of Johnson & Johnson in a research note on Tuesday, December 10th. Wolfe Research started coverage on Johnson & Johnson in a research note on Friday, November 15th. They set an “outperform” rating and a $190.00 price objective for the company. Cantor Fitzgerald restated an “overweight” rating and issued a $215.00 target price on shares of Johnson & Johnson in a research report on Wednesday, October 16th. Finally, StockNews.com cut Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $174.71.

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.