Red Door Wealth Management LLC Boosts Position in Johnson & Johnson (NYSE:JNJ)

Red Door Wealth Management LLC raised its stake in Johnson & Johnson (NYSE:JNJFree Report) by 5.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 46,401 shares of the company’s stock after purchasing an additional 2,552 shares during the period. Johnson & Johnson accounts for about 1.6% of Red Door Wealth Management LLC’s holdings, making the stock its 16th biggest position. Red Door Wealth Management LLC’s holdings in Johnson & Johnson were worth $7,273,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Hibernia Wealth Partners LLC acquired a new stake in shares of Johnson & Johnson in the 3rd quarter valued at about $27,000. FNY Investment Advisers LLC purchased a new stake in Johnson & Johnson in the third quarter valued at approximately $37,000. Tower View Wealth Management LLC boosted its holdings in shares of Johnson & Johnson by 183.3% in the third quarter. Tower View Wealth Management LLC now owns 255 shares of the company’s stock valued at $40,000 after acquiring an additional 165 shares during the period. Creative Capital Management Investments LLC grew its position in shares of Johnson & Johnson by 43.0% during the third quarter. Creative Capital Management Investments LLC now owns 286 shares of the company’s stock worth $45,000 after acquiring an additional 86 shares during the last quarter. Finally, VitalStone Financial LLC acquired a new position in shares of Johnson & Johnson in the 2nd quarter valued at $48,000. Institutional investors and hedge funds own 69.55% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on JNJ. Wells Fargo & Company downgraded shares of Johnson & Johnson from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $170.00 to $163.00 in a research report on Wednesday, December 13th. Morgan Stanley lowered their price target on Johnson & Johnson from $170.00 to $169.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 24th. Raymond James upped their price objective on Johnson & Johnson from $172.00 to $175.00 and gave the company an “outperform” rating in a research note on Wednesday, January 3rd. StockNews.com upgraded Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, February 6th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $181.00 price target on shares of Johnson & Johnson in a research note on Wednesday, February 28th. Seven investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $177.31.

View Our Latest Stock Report on JNJ

Johnson & Johnson Price Performance

Shares of NYSE JNJ opened at $157.96 on Thursday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.91 and a current ratio of 1.16. Johnson & Johnson has a one year low of $144.95 and a one year high of $175.97. The firm has a market capitalization of $380.65 billion, a P/E ratio of 11.44, a PEG ratio of 2.62 and a beta of 0.53. The company’s fifty day moving average is $158.76 and its two-hundred day moving average is $156.69.

Johnson & Johnson (NYSE:JNJGet Free Report) last released its quarterly earnings data on Tuesday, January 23rd. The company reported $2.29 EPS for the quarter, topping analysts’ consensus estimates of $2.28 by $0.01. Johnson & Johnson had a net margin of 37.79% and a return on equity of 37.27%. The firm had revenue of $21.40 billion for the quarter, compared to the consensus estimate of $21.02 billion. During the same quarter in the previous year, the firm earned $2.35 earnings per share. The firm’s revenue was down 9.7% on a year-over-year basis. Analysts forecast that Johnson & Johnson will post 10.65 EPS for the current fiscal year.

Johnson & Johnson Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 5th. Investors of record on Tuesday, February 20th were issued a dividend of $1.19 per share. The ex-dividend date of this dividend was Friday, February 16th. This represents a $4.76 annualized dividend and a yield of 3.01%. Johnson & Johnson’s dividend payout ratio is presently 34.47%.

Insider Activity

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

Johnson & Johnson Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Johnson & Johnson (NYSE:JNJ)

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