Perigon Wealth Management LLC Boosts Stake in Johnson & Johnson (NYSE:JNJ)

Perigon Wealth Management LLC grew its stake in Johnson & Johnson (NYSE:JNJ) by 20.7% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 117,149 shares of the company’s stock after buying an additional 20,065 shares during the period. Perigon Wealth Management LLC’s holdings in Johnson & Johnson were worth $18,362,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in JNJ. Moneta Group Investment Advisors LLC increased its stake in shares of Johnson & Johnson by 90,144.4% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 54,386,720 shares of the company’s stock worth $9,607,414,000 after acquiring an additional 54,326,454 shares during the period. Norges Bank acquired a new stake in shares of Johnson & Johnson in the fourth quarter worth $4,609,399,000. Morgan Stanley increased its stake in shares of Johnson & Johnson by 12.0% in the fourth quarter. Morgan Stanley now owns 42,224,521 shares of the company’s stock worth $7,458,962,000 after acquiring an additional 4,521,062 shares during the period. Barclays PLC increased its stake in shares of Johnson & Johnson by 61.0% in the second quarter. Barclays PLC now owns 11,287,765 shares of the company’s stock worth $1,868,351,000 after acquiring an additional 4,278,512 shares during the period. Finally, Imprint Wealth LLC increased its stake in shares of Johnson & Johnson by 17,087.7% in the second quarter. Imprint Wealth LLC now owns 2,913,480 shares of the company’s stock worth $291,348,000 after acquiring an additional 2,896,529 shares during the period. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. StockNews.com upgraded shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, February 6th. Bank of America dropped their price target on shares of Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating on the stock in a research report on Wednesday. Raymond James increased their price objective on shares of Johnson & Johnson from $172.00 to $175.00 and gave the company an “outperform” rating in a report on Wednesday, January 3rd. Royal Bank of Canada decreased their price objective on shares of Johnson & Johnson from $181.00 to $175.00 and set an “outperform” rating on the stock in a report on Wednesday. Finally, Morgan Stanley decreased their price objective on shares of Johnson & Johnson from $170.00 to $169.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 24th. Eight research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Johnson & Johnson has a consensus rating of “Moderate Buy” and an average price target of $176.36.

Johnson & Johnson Price Performance

Shares of JNJ opened at $144.77 on Thursday. Johnson & Johnson has a 1-year low of $143.39 and a 1-year high of $175.97. The stock has a market cap of $348.86 billion, a PE ratio of 10.48, a P/E/G ratio of 2.45 and a beta of 0.53. The firm has a 50-day simple moving average of $156.54 and a two-hundred day simple moving average of $155.74. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.16 and a quick ratio of 0.91.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings data on Tuesday, April 16th. The company reported $2.71 earnings per share for the quarter, beating analysts’ consensus estimates of $2.64 by $0.07. The firm had revenue of $21.38 billion during the quarter, compared to analysts’ expectations of $21.39 billion. Johnson & Johnson had a net margin of 37.79% and a return on equity of 37.27%. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.68 earnings per share. As a group, analysts forecast that Johnson & Johnson will post 10.66 EPS for the current year.

Johnson & Johnson Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Investors of record on Tuesday, May 21st will be issued a $1.24 dividend. The ex-dividend date is Monday, May 20th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.43%. This is a boost from Johnson & Johnson’s previous quarterly dividend of $1.19. Johnson & Johnson’s payout ratio is 34.47%.

Insider Activity at Johnson & Johnson

In other Johnson & Johnson news, EVP Jennifer L. Taubert sold 59,397 shares of the business’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 141,416 shares in the company, valued at approximately $22,099,078.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Johnson & Johnson news, major shareholder & Johnson Johnson sold 3,725 shares of the business’s 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 completion of the transaction, the insider now owns 4,099,575 shares in the company, valued at approximately $105,810,030.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jennifer L. Taubert sold 59,397 shares of the business’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 transaction of $9,281,969.19. Following the transaction, the executive vice president now 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. Company insiders own 0.16% of the company’s stock.

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.