Johnson & Johnson (NYSE:JNJ) Shares Bought by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC raised its stake in Johnson & Johnson (NYSE:JNJ) by 129.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,165 shares of the company’s stock after buying an additional 2,349 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Johnson & Johnson were worth $653,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. California Public Employees Retirement System lifted its position in Johnson & Johnson by 4.9% in the fourth quarter. California Public Employees Retirement System now owns 10,620,264 shares of the company’s stock valued at $1,664,620,000 after buying an additional 498,647 shares during the last quarter. Gimbal Financial purchased a new position in shares of Johnson & Johnson in the fourth quarter valued at approximately $793,000. Foster & Motley Inc. grew its holdings in shares of Johnson & Johnson by 6.0% in the fourth quarter. Foster & Motley Inc. now owns 45,857 shares of the company’s stock valued at $7,188,000 after purchasing an additional 2,584 shares in the last quarter. RWA Wealth Partners LLC increased its stake in Johnson & Johnson by 106.0% during the 4th quarter. RWA Wealth Partners LLC now owns 306,991 shares of the company’s stock worth $48,118,000 after buying an additional 157,966 shares during the period. Finally, Significant Wealth Partners LLC purchased a new position in Johnson & Johnson in the 4th quarter valued at approximately $514,000. Institutional investors and hedge funds own 69.55% of the company’s stock.

Insider Activity at Johnson & Johnson

In other news, major shareholder & Johnson Johnson sold 3,725 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $25.81, for a total value of $96,142.25. Following the completion of the sale, the insider now directly owns 4,099,575 shares of the company’s stock, valued at $105,810,030.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, major shareholder & Johnson Johnson sold 3,725 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $25.81, for a total value of $96,142.25. Following the completion of the sale, the insider now directly owns 4,099,575 shares of the company’s stock, valued at $105,810,030.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Jennifer L. Taubert sold 59,397 shares of the company’s stock in a transaction dated 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 $22,099,078.32. The disclosure for this sale can be found here. 0.16% of the stock is owned by corporate insiders.

Johnson & Johnson Price Performance

Shares of JNJ opened at $146.14 on Friday. Johnson & Johnson has a 1-year low of $143.13 and a 1-year high of $175.97. The stock has a market cap of $352.17 billion, a PE ratio of 9.11, a price-to-earnings-growth ratio of 2.41 and a beta of 0.53. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.16 and a quick ratio of 0.91. The firm has a fifty day moving average price of $155.26 and a 200 day moving average price of $155.30.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings results 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. Johnson & Johnson had a net margin of 45.26% and a return on equity of 36.43%. The firm had revenue of $21.38 billion during the quarter, compared to analysts’ expectations of $21.39 billion. During the same period in the previous year, the company earned $2.68 earnings per share. Johnson & Johnson’s quarterly revenue was up 2.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Johnson & Johnson will post 10.65 EPS for the current year.

Johnson & Johnson Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 4th. Investors of record on Tuesday, May 21st will be given a $1.24 dividend. The ex-dividend date of this dividend is Monday, May 20th. This is a boost from Johnson & Johnson’s previous quarterly dividend of $1.19. This represents a $4.96 dividend on an annualized basis and a yield of 3.39%. Johnson & Johnson’s payout ratio is 29.68%.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Royal Bank of Canada dropped their price target on shares of Johnson & Johnson from $181.00 to $175.00 and set an “outperform” rating for the company in a research note on Wednesday, April 17th. Raymond James boosted their price target on shares of Johnson & Johnson from $172.00 to $175.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 3rd. Morgan Stanley dropped their price target on shares of 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. HSBC upgraded shares of Johnson & Johnson from a “hold” rating to a “buy” rating and boosted their price target for the stock from $169.00 to $170.00 in a research note on Thursday, April 18th. Finally, Bank of America dropped their price target on shares of Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating for the company in a research note on Wednesday, April 17th. Seven equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $175.86.

About Johnson & Johnson

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.