Concord Wealth Partners Has $3.94 Million Stake in Johnson & Johnson (NYSE:JNJ)

Concord Wealth Partners raised its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 19.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,162 shares of the company’s stock after purchasing an additional 4,131 shares during the quarter. Concord Wealth Partners’ holdings in Johnson & Johnson were worth $3,944,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Massachusetts Wealth Management grew its holdings in Johnson & Johnson by 4.2% during the third quarter. Massachusetts Wealth Management now owns 16,105 shares of the company’s stock worth $2,508,000 after buying an additional 650 shares in the last quarter. Outfitter Financial LLC boosted its holdings in Johnson & Johnson by 0.6% during the 3rd quarter. Outfitter Financial LLC now owns 16,857 shares of the company’s stock worth $2,625,000 after acquiring an additional 105 shares during the last quarter. Signet Investment Advisory Group Inc. grew its stake in shares of Johnson & Johnson by 0.8% in the 3rd quarter. Signet Investment Advisory Group Inc. now owns 23,365 shares of the company’s stock worth $3,639,000 after acquiring an additional 191 shares in the last quarter. Bfsg LLC raised its holdings in shares of Johnson & Johnson by 6.4% in the third quarter. Bfsg LLC now owns 26,069 shares of the company’s stock valued at $4,060,000 after purchasing an additional 1,562 shares during the last quarter. Finally, Avestar Capital LLC boosted its holdings in Johnson & Johnson by 12.1% during the third quarter. Avestar Capital LLC now owns 7,094 shares of the company’s stock worth $1,105,000 after purchasing an additional 763 shares during the last quarter. Institutional investors and hedge funds own 69.55% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. StockNews.com upgraded shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, February 6th. HSBC upgraded Johnson & Johnson from a “hold” rating to a “buy” rating and lifted their price target for the stock from $169.00 to $170.00 in a report on Thursday, April 18th. Morgan Stanley reduced their price objective on Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 17th. Bank of America cut their price target on shares of Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating on the stock in a report on Wednesday, April 17th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $215.00 price objective on shares of Johnson & Johnson in a report on Monday, April 15th. Seven research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $175.86.

Johnson & Johnson Price Performance

Johnson & Johnson stock opened at $149.27 on Monday. The business has a 50-day simple moving average of $154.19 and a 200 day simple moving average of $155.03. Johnson & Johnson has a 52 week low of $143.13 and a 52 week high of $175.97. The stock has a market cap of $359.25 billion, a price-to-earnings ratio of 9.31, a PEG ratio of 2.46 and a beta of 0.55. The company has a quick ratio of 0.91, a current ratio of 1.17 and a debt-to-equity ratio of 0.36.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings data on Tuesday, April 16th. The company reported $2.71 earnings per share for the quarter, topping the consensus estimate of $2.64 by $0.07. Johnson & Johnson had a net margin of 45.26% and a return on equity of 36.70%. The company had revenue of $21.38 billion for the quarter, compared to analysts’ expectations of $21.39 billion. During the same period in the prior year, the business earned $2.68 earnings per share. Johnson & Johnson’s revenue for the quarter was up 2.3% compared to the same quarter last year. On average, research analysts forecast that Johnson & Johnson will post 10.65 earnings per share for the current fiscal year.

Johnson & Johnson Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 21st will be issued a dividend of $1.24 per share. This is an increase from Johnson & Johnson’s previous quarterly dividend of $1.19. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.32%. The ex-dividend date of this dividend is Monday, May 20th. Johnson & Johnson’s payout ratio is currently 29.68%.

Insider Buying and Selling

In other Johnson & Johnson news, major shareholder & Johnson Johnson sold 3,725 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $25.81, for a total transaction of $96,142.25. Following the sale, the insider now owns 4,099,575 shares in the company, valued at $105,810,030.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Johnson & Johnson news, major shareholder & Johnson Johnson sold 3,725 shares of Johnson & Johnson stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $25.81, for a total transaction of $96,142.25. Following the transaction, the insider now directly owns 4,099,575 shares of the company’s stock, valued at $105,810,030.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jennifer L. Taubert sold 59,397 shares of the company’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $156.27, for a total transaction of $9,281,969.19. Following the completion of the sale, the executive vice president now directly owns 141,416 shares of the company’s stock, valued at approximately $22,099,078.32. The disclosure for this sale can be found here. 0.16% of the stock is owned by company insiders.

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.