Malaga Cove Capital LLC Acquires Shares of 1,609 Johnson & Johnson (NYSE:JNJ)

Malaga Cove Capital LLC bought a new position in shares of Johnson & Johnson (NYSE:JNJ) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 1,609 shares of the company’s stock, valued at approximately $252,000.

A number of other institutional investors have also recently modified their holdings of the business. Massachusetts Wealth Management grew its position in shares of Johnson & Johnson by 4.2% in the third quarter. Massachusetts Wealth Management now owns 16,105 shares of the company’s stock valued at $2,508,000 after purchasing an additional 650 shares during the period. Carderock Capital Management Inc. acquired a new stake in Johnson & Johnson in the 3rd quarter worth about $247,000. Cohen Lawrence B increased its stake in Johnson & Johnson by 192.4% during the 3rd quarter. Cohen Lawrence B now owns 20,679 shares of the company’s stock worth $3,221,000 after buying an additional 13,608 shares in the last quarter. Rosenbaum Jay D. lifted its position in shares of Johnson & Johnson by 243.0% in the third quarter. Rosenbaum Jay D. now owns 6,832 shares of the company’s stock valued at $1,064,000 after acquiring an additional 4,840 shares in the last quarter. Finally, Atlas Private Wealth Management boosted its stake in shares of Johnson & Johnson by 1.9% in the third quarter. Atlas Private Wealth Management now owns 25,511 shares of the company’s stock worth $3,973,000 after acquiring an additional 470 shares during the last quarter. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP Jennifer L. Taubert sold 59,397 shares of the firm’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 value of $9,281,969.19. Following the completion of the transaction, the executive vice president now owns 141,416 shares of the company’s stock, valued at $22,099,078.32. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Johnson & Johnson news, EVP Jennifer L. Taubert sold 59,397 shares of the 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 sale, the executive vice president now directly owns 141,416 shares in the company, valued at approximately $22,099,078.32. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder & Johnson Johnson sold 3,725 shares of the business’s stock in a transaction on Friday, February 16th. The stock was 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 of the company’s stock, valued at approximately $105,810,030.75. The disclosure for this sale can be found here. 0.16% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts recently commented on the company. HSBC raised Johnson & Johnson from a “hold” rating to a “buy” rating and increased their price objective for the company from $169.00 to $170.00 in a research note on Thursday, April 18th. Royal Bank of Canada decreased their price target on shares of Johnson & Johnson from $181.00 to $175.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 17th. Morgan Stanley dropped their price objective 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. StockNews.com upgraded Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Tuesday, February 6th. Finally, Bank of America cut their price target on Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating for the company in a report on Wednesday, April 17th. Seven investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $175.86.

Johnson & Johnson Price Performance

JNJ stock opened at $148.72 on Wednesday. Johnson & Johnson has a 52-week low of $143.13 and a 52-week high of $175.97. The business has a fifty day moving average of $153.70 and a two-hundred day moving average of $154.97. The stock has a market cap of $357.92 billion, a price-to-earnings ratio of 9.27, a price-to-earnings-growth ratio of 2.46 and a beta of 0.55. The company has a quick ratio of 0.94, a current ratio of 1.17 and a debt-to-equity ratio of 0.36.

Johnson & Johnson (NYSE:JNJ) last posted its earnings results on Tuesday, April 16th. The company reported $2.71 EPS 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 36.70%. The company had revenue of $21.38 billion for the quarter, compared to analysts’ expectations of $21.39 billion. During the same quarter in the prior year, the company posted $2.68 earnings per share. Johnson & Johnson’s revenue for the quarter was up 2.3% compared to the same quarter last year. As a group, research analysts anticipate that Johnson & Johnson will post 10.65 earnings per share for the current year.

Johnson & Johnson Increases Dividend

The company 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. This represents a $4.96 annualized dividend and a dividend yield of 3.34%. The ex-dividend date of this dividend is Monday, May 20th. This is an increase from Johnson & Johnson’s previous quarterly dividend of $1.19. Johnson & Johnson’s payout ratio is currently 29.68%.

Johnson & Johnson 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.