Centricity Wealth Management LLC Takes Position in Johnson & Johnson (NYSE:JNJ)

Centricity Wealth Management LLC bought a new stake in Johnson & Johnson (NYSE:JNJ) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 2,180 shares of the company’s stock, valued at approximately $315,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. State Street Corp grew its stake in shares of 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 period. Geode Capital Management LLC grew its stake in shares of Johnson & Johnson by 1.8% during the third quarter. Geode Capital Management LLC now owns 56,106,884 shares of the company’s stock worth $9,064,149,000 after purchasing an additional 1,004,763 shares during the period. FMR LLC grew its stake 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 period. Charles Schwab Investment Management Inc. grew its stake in shares of Johnson & Johnson by 0.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 17,639,368 shares of the company’s stock worth $2,858,543,000 after purchasing an additional 102,502 shares during the period. Finally, Franklin Resources Inc. grew its stake in shares of Johnson & Johnson by 11.4% during the third quarter. Franklin Resources Inc. now owns 16,840,069 shares of the company’s stock worth $2,721,355,000 after purchasing an additional 1,729,281 shares during the period. 69.55% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently commented on JNJ shares. Argus raised Johnson & Johnson to a “strong-buy” rating in a research note on Friday, January 24th. Citigroup reduced their target price on Johnson & Johnson from $185.00 to $175.00 and set a “buy” rating on the stock in a report on Wednesday, December 11th. Stifel Nicolaus reduced their target price on Johnson & Johnson from $170.00 to $155.00 and set a “hold” rating on the stock in a report on Thursday, January 23rd. Raymond James reduced their target price on Johnson & Johnson from $170.00 to $165.00 and set an “outperform” rating on the stock in a report on Thursday, January 23rd. Finally, Guggenheim lifted their target price on Johnson & Johnson from $162.00 to $166.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Nine investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Johnson & Johnson currently has a consensus rating of “Moderate Buy” and an average target price of $170.67.

Johnson & Johnson Stock Performance

Shares of Johnson & Johnson stock opened at $163.81 on Tuesday. The firm has a market cap of $394.38 billion, a price-to-earnings ratio of 24.63, a price-to-earnings-growth ratio of 2.56 and a beta of 0.52. The stock’s 50-day moving average is $149.33 and its 200-day moving average is $155.88. Johnson & Johnson has a one year low of $140.68 and a one year high of $168.85. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.11 and a quick ratio of 0.86.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings results on Wednesday, January 22nd. The company reported $2.04 EPS for the quarter, beating analysts’ consensus estimates of $1.99 by $0.05. The company had revenue of $22.52 billion for the quarter, compared to analyst estimates of $22.44 billion. Johnson & Johnson had a return on equity of 34.24% and a net margin of 18.20%. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the company posted $2.29 earnings per share. Equities analysts predict that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th will be given a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.03%. The ex-dividend date is Tuesday, February 18th. Johnson & Johnson’s dividend payout ratio is currently 74.59%.

Insider Activity at Johnson & Johnson

In related news, Director Mark A. Weinberger bought 1,000 shares of the stock in a transaction that occurred on Thursday, December 12th. The shares were acquired at an average price of $147.22 per share, with a total value of $147,220.00. Following the completion of the transaction, the director now owns 1,000 shares in the company, valued at $147,220. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Timothy Schmid sold 403 shares of Johnson & Johnson stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $156.15, for a total value of $62,928.45. Following the completion of the sale, the executive vice president now directly owns 15,098 shares in the company, valued at approximately $2,357,552.70. This represents a 2.60 % decrease in their position. The disclosure for this sale can be found here. 0.16% of the stock is owned by company insiders.

About Johnson & Johnson

Johnson & Johnson is a holding company, which engages in the research, development, manufacture, and sale of products in the healthcare field. It operates through the Innovative Medicine and MedTech segments. The Innovative Medicine segment focuses on immunology, infectious diseases, neuroscience, oncology, cardiovascular and metabolism, and pulmonary hypertension.