Summit Financial LLC Raises Stock Holdings in Johnson & Johnson (NYSE:JNJ)

Summit Financial LLC increased its stake in shares of Johnson & Johnson (NYSE:JNJ) by 24.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 54,457 shares of the company’s stock after purchasing an additional 10,854 shares during the quarter. Summit Financial LLC’s holdings in Johnson & Johnson were worth $7,876,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Oregon Pacific Wealth Management LLC purchased a new position in shares of Johnson & Johnson during the fourth quarter valued at approximately $949,000. Horan Securities Inc. lifted its stake in shares of Johnson & Johnson by 1.3% during the 4th quarter. Horan Securities Inc. now owns 7,178 shares of the company’s stock worth $1,038,000 after purchasing an additional 90 shares during the period. Strategic Financial Concepts LLC boosted its holdings in shares of Johnson & Johnson by 57.9% during the fourth quarter. Strategic Financial Concepts LLC now owns 3,467 shares of the company’s stock worth $501,000 after purchasing an additional 1,271 shares during the last quarter. Lord Abbett & CO. LLC purchased a new stake in shares of Johnson & Johnson in the third quarter valued at $69,859,000. Finally, Kestra Investment Management LLC acquired a new position in Johnson & Johnson in the third quarter valued at $3,391,000. Institutional investors and hedge funds own 69.55% of the company’s stock.

Johnson & Johnson Stock Up 0.3 %

Shares of Johnson & Johnson stock opened at $163.63 on Monday. The business has a 50-day moving average price of $158.68 and a 200 day moving average price of $156.07. Johnson & Johnson has a fifty-two week low of $140.68 and a fifty-two week high of $169.99. The firm has a market cap of $394.32 billion, a P/E ratio of 24.61, a P/E/G ratio of 2.56 and a beta of 0.47. 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 issued its quarterly earnings results on Wednesday, January 22nd. The company reported $2.04 earnings per share for the quarter, beating analysts’ consensus estimates of $1.99 by $0.05. Johnson & Johnson had a return on equity of 34.24% and a net margin of 18.20%. The business had revenue of $22.52 billion during the quarter, compared to the consensus estimate of $22.44 billion. During the same period in the previous year, the business earned $2.29 EPS. The business’s quarterly revenue was up 5.3% on a year-over-year basis. On average, sell-side analysts forecast that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th were given a $1.24 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.03%. Johnson & Johnson’s payout ratio is currently 74.59%.

Insider Activity

In related news, EVP Timothy Schmid sold 403 shares of the business’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 transaction of $62,928.45. Following the completion of the transaction, the executive vice president now owns 15,098 shares in the company, valued at $2,357,552.70. The trade was a 2.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Robert J. Decker sold 6,999 shares of the stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $165.88, for a total value of $1,160,994.12. Following the completion of the sale, the vice president now directly owns 21,001 shares in the company, valued at $3,483,645.88. This represents a 25.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.16% of the company’s stock.

Wall Street Analysts Forecast Growth

JNJ has been the subject of several recent analyst reports. Argus upgraded Johnson & Johnson to a “strong-buy” rating in a report on Friday, January 24th. Morgan Stanley decreased their target price on Johnson & Johnson from $175.00 to $163.00 and set an “equal weight” rating for the company in a report on Thursday, January 23rd. Leerink Partners cut their price target on shares of Johnson & Johnson from $182.00 to $169.00 and set an “outperform” rating on the stock in a report on Thursday, January 23rd. Bank of America boosted their price objective on shares of Johnson & Johnson from $159.00 to $171.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 5th. Finally, StockNews.com upgraded Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Saturday, January 25th. Nine analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $171.33.

About Johnson & Johnson

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.