Iron Horse Wealth Management LLC Acquires 887 Shares of Johnson & Johnson (NYSE:JNJ)

Iron Horse Wealth Management LLC grew its holdings in Johnson & Johnson (NYSE:JNJ) by 55.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,474 shares of the company’s stock after purchasing an additional 887 shares during the period. Johnson & Johnson comprises about 0.1% of Iron Horse Wealth Management LLC’s investment portfolio, making the stock its 27th biggest holding. Iron Horse Wealth Management LLC’s holdings in Johnson & Johnson were worth $401,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of JNJ. Innealta Capital LLC purchased a new stake in Johnson & Johnson in the second quarter worth approximately $27,000. MFA Wealth Advisors LLC purchased a new position in shares of Johnson & Johnson in the 2nd quarter worth $43,000. Fairfield Financial Advisors LTD bought a new stake in shares of Johnson & Johnson in the second quarter worth $46,000. Fairway Wealth LLC increased its position in Johnson & Johnson by 217.1% during the second quarter. Fairway Wealth LLC now owns 333 shares of the company’s stock valued at $49,000 after acquiring an additional 228 shares during the last quarter. Finally, Quarry LP bought a new position in Johnson & Johnson in the second quarter valued at about $49,000. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Insiders Place Their Bets

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

Johnson & Johnson Stock Up 1.5 %

JNJ opened at $165.86 on Thursday. Johnson & Johnson has a 52 week low of $143.13 and a 52 week high of $168.85. The company has a quick ratio of 0.85, a current ratio of 1.07 and a debt-to-equity ratio of 0.44. The firm has a 50-day simple moving average of $163.29 and a two-hundred day simple moving average of $154.92. The company has a market capitalization of $399.17 billion, a PE ratio of 10.34, a price-to-earnings-growth ratio of 2.65 and a beta of 0.52.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings results on Tuesday, October 15th. The company reported $2.42 earnings per share for the quarter, topping the consensus estimate of $2.21 by $0.21. Johnson & Johnson had a net margin of 46.34% and a return on equity of 36.60%. The company had revenue of $22.47 billion for the quarter, compared to analysts’ expectations of $22.17 billion. During the same quarter in the previous year, the business posted $2.66 earnings per share. Johnson & Johnson’s quarterly revenue was up 5.2% on a year-over-year basis. Analysts forecast that Johnson & Johnson will post 10 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 26th will be given a $1.24 dividend. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $4.96 annualized dividend and a yield of 2.99%. Johnson & Johnson’s dividend payout ratio is currently 30.92%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on JNJ. Daiwa Capital Markets lowered shares of Johnson & Johnson from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $160.00 to $150.00 in a research report on Tuesday, July 23rd. 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. Citigroup boosted their price objective on shares of Johnson & Johnson from $180.00 to $185.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Sanford C. Bernstein raised their target price on Johnson & Johnson from $161.00 to $171.00 in a report on Thursday, July 18th. Finally, Morgan Stanley boosted their price target on Johnson & Johnson from $169.00 to $175.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. Six investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $175.93.

Johnson & Johnson Company Profile

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.