Innova Wealth Partners Makes New $416,000 Investment in Johnson & Johnson (NYSE:JNJ)

Innova Wealth Partners bought a new stake in Johnson & Johnson (NYSE:JNJ) during the 4th quarter, HoldingsChannel reports. The institutional investor bought 2,874 shares of the company’s stock, valued at approximately $416,000.

A number of other hedge funds and other institutional investors have also modified their holdings of JNJ. State Street Corp lifted its stake in Johnson & Johnson by 0.9% during the third quarter. State Street Corp now owns 134,245,811 shares of the company’s stock worth $21,755,874,000 after purchasing an additional 1,154,088 shares during the last quarter. Geode Capital Management LLC raised its stake in Johnson & Johnson by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 56,106,884 shares of the company’s stock worth $9,064,149,000 after acquiring an additional 1,004,763 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Johnson & Johnson by 10.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 18,780,645 shares of the company’s stock valued at $2,744,979,000 after acquiring an additional 1,831,751 shares in the last quarter. FMR LLC grew its holdings in shares of Johnson & Johnson by 7.4% during the third quarter. FMR LLC now owns 18,316,920 shares of the company’s stock worth $2,968,440,000 after purchasing an additional 1,265,748 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Johnson & Johnson by 0.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 17,639,368 shares of the company’s stock valued at $2,858,543,000 after purchasing an additional 102,502 shares during the last quarter. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

JNJ has been the topic of several research analyst reports. Wolfe Research began coverage on Johnson & Johnson in a research report on Friday, November 15th. They set an “outperform” rating and a $190.00 price target on the stock. StockNews.com cut shares of Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a report on Tuesday. Guggenheim raised their price objective on shares of Johnson & Johnson from $156.00 to $162.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 6th. Morgan Stanley lifted their price objective on shares of Johnson & Johnson from $169.00 to $175.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. Finally, Citigroup decreased their target price on shares of Johnson & Johnson from $185.00 to $175.00 and set a “buy” rating for the company in a research note on Wednesday, December 11th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Johnson & Johnson currently has an average rating of “Moderate Buy” and a consensus price target of $174.71.

Johnson & Johnson Price Performance

Shares of JNJ opened at $146.19 on Wednesday. The firm has a market capitalization of $351.97 billion, a PE ratio of 21.16, a P/E/G ratio of 2.52 and a beta of 0.51. The stock’s 50 day moving average is $150.75 and its two-hundred day moving average is $156.23. Johnson & Johnson has a twelve month low of $142.75 and a twelve month high of $168.85. The company has a current ratio of 1.03, a quick ratio of 0.79 and a debt-to-equity ratio of 0.45.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings data on Tuesday, October 15th. The company reported $2.42 earnings per share for the quarter, topping analysts’ consensus estimates of $2.21 by $0.21. Johnson & Johnson had a return on equity of 35.45% and a net margin of 19.14%. The firm had revenue of $22.47 billion for the quarter, compared to analyst estimates of $22.17 billion. During the same quarter in the prior year, the company posted $2.66 earnings per share. Johnson & Johnson’s quarterly revenue was up 5.2% on a year-over-year basis. Research analysts anticipate that Johnson & Johnson will post 9.94 earnings per share for the current year.

Johnson & Johnson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th will be paid a $1.24 dividend. This represents a $4.96 annualized dividend and a dividend yield of 3.39%. The ex-dividend date of this dividend is Tuesday, February 18th. Johnson & Johnson’s dividend payout ratio (DPR) is 71.78%.

Insider Buying and Selling

In other news, Director Mark A. Weinberger acquired 1,000 shares of Johnson & Johnson stock in a transaction that occurred on Thursday, December 12th. The stock was purchased at an average cost of $147.22 per share, with a total value of $147,220.00. Following the completion of the acquisition, the director now owns 1,000 shares in the company, valued at $147,220. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.16% of the stock is owned by insiders.

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.