Johnson & Johnson (NYSE:JNJ) Stake Raised by Legacy Capital Group California Inc.

Legacy Capital Group California Inc. increased its holdings in Johnson & Johnson (NYSE:JNJ) by 1.1% in the 4th quarter, Holdings Channel reports. The fund owned 13,566 shares of the company’s stock after purchasing an additional 154 shares during the period. Johnson & Johnson makes up about 0.6% of Legacy Capital Group California Inc.’s portfolio, making the stock its 25th biggest position. Legacy Capital Group California Inc.’s holdings in Johnson & Johnson were worth $1,962,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of JNJ. AMF Tjanstepension AB increased its position in Johnson & Johnson by 14.2% in the 3rd quarter. AMF Tjanstepension AB now owns 425,261 shares of the company’s stock worth $68,985,000 after purchasing an additional 52,997 shares during the last quarter. Alpha Financial Partners LLC acquired a new position in Johnson & Johnson in the 3rd quarter worth about $209,000. Wealth Group Ltd. acquired a new position in Johnson & Johnson in the 3rd quarter worth about $213,000. Swedbank AB increased its position in Johnson & Johnson by 5.3% in the 3rd quarter. Swedbank AB now owns 2,215,108 shares of the company’s stock worth $358,980,000 after purchasing an additional 111,570 shares during the last quarter. Finally, Allworth Financial LP increased its position in Johnson & Johnson by 2.5% in the 3rd quarter. Allworth Financial LP now owns 296,904 shares of the company’s stock worth $48,116,000 after purchasing an additional 7,196 shares during the last quarter. 69.55% of the stock is owned by hedge funds and other institutional investors.

Johnson & Johnson Price Performance

Shares of NYSE:JNJ opened at $163.81 on Tuesday. The business has a 50 day moving average price of $149.33 and a 200 day moving average price of $155.88. Johnson & Johnson has a twelve month low of $140.68 and a twelve month high of $168.85. The company has a market cap of $394.38 billion, a price-to-earnings ratio of 24.63, a PEG ratio of 2.56 and a beta of 0.52. 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 announced its earnings results on Wednesday, January 22nd. The company reported $2.04 earnings per share 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 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 company earned $2.29 EPS. The firm’s revenue for the quarter 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 Announces Dividend

The company also recently disclosed 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 of this dividend is Tuesday, February 18th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.03%. Johnson & Johnson’s dividend payout ratio is currently 74.59%.

Wall Street Analysts Forecast Growth

JNJ has been the topic of several research reports. Guggenheim upped their target price on Johnson & Johnson from $162.00 to $166.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. 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. Barclays increased their price objective on Johnson & Johnson from $159.00 to $166.00 and gave the company an “equal weight” rating in a report on Tuesday, January 28th. Morgan Stanley lowered their price objective on Johnson & Johnson from $175.00 to $163.00 and set an “equal weight” rating on the stock in a report on Thursday, January 23rd. Finally, Leerink Partners lowered their price objective on Johnson & Johnson from $182.00 to $169.00 and set an “outperform” rating on the stock in a report on Thursday, January 23rd. Nine research 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. Based on data from MarketBeat.com, Johnson & Johnson presently has a consensus rating of “Moderate Buy” and an average target price of $170.67.

Insiders Place Their Bets

In other news, Director Mark A. Weinberger acquired 1,000 shares of Johnson & Johnson stock in a transaction on Thursday, December 12th. The stock was bought at an average price of $147.22 per share, for a total transaction of $147,220.00. Following the transaction, the director now owns 1,000 shares of the company’s stock, valued at $147,220. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Timothy Schmid sold 403 shares of the firm’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 of the company’s stock, valued at $2,357,552.70. This represents 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.

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.