Riverbend Wealth Management LLC Invests $669,000 in Johnson & Johnson (NYSE:JNJ)

Riverbend Wealth Management LLC purchased a new position in shares of Johnson & Johnson (NYSE:JNJ) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 4,613 shares of the company’s stock, valued at approximately $669,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vinva Investment Management Ltd grew its position in Johnson & Johnson by 6.8% in the 3rd quarter. Vinva Investment Management Ltd now owns 111,448 shares of the company’s stock valued at $17,988,000 after buying an additional 7,110 shares in the last quarter. Financial Counselors Inc. grew its position in Johnson & Johnson by 5.3% in the 3rd quarter. Financial Counselors Inc. now owns 185,093 shares of the company’s stock valued at $29,996,000 after buying an additional 9,309 shares in the last quarter. Oregon Pacific Wealth Management LLC bought a new position in Johnson & Johnson in the 4th quarter valued at about $949,000. Horan Securities Inc. grew its position in Johnson & Johnson by 1.3% in the 4th quarter. Horan Securities Inc. now owns 7,178 shares of the company’s stock valued at $1,038,000 after buying an additional 90 shares in the last quarter. Finally, Strategic Financial Concepts LLC grew its position in Johnson & Johnson by 57.9% in the 4th quarter. Strategic Financial Concepts LLC now owns 3,467 shares of the company’s stock valued at $501,000 after buying an additional 1,271 shares in the last quarter. Institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Stock Up 0.5 %

JNJ stock opened at $167.57 on Tuesday. The company has a 50 day moving average of $153.44 and a two-hundred day moving average of $156.28. The company has a quick ratio of 0.86, a current ratio of 1.11 and a debt-to-equity ratio of 0.43. Johnson & Johnson has a 12-month low of $140.68 and a 12-month high of $169.99. The company has a market cap of $403.45 billion, a price-to-earnings ratio of 25.20, a PEG ratio of 2.56 and a beta of 0.47.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings data on Wednesday, January 22nd. The company reported $2.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.99 by $0.05. Johnson & Johnson had a return on equity of 34.24% and a net margin of 18.20%. The firm had revenue of $22.52 billion during the quarter, compared to analysts’ expectations of $22.44 billion. During the same quarter last year, the firm earned $2.29 earnings per share. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. On average, equities analysts anticipate that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th were given a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a yield of 2.96%. The ex-dividend date of this dividend was Tuesday, February 18th. Johnson & Johnson’s payout ratio is presently 74.59%.

Analysts Set New Price Targets

JNJ has been the subject of a number of research analyst reports. Leerink Partners cut their price target on shares of Johnson & Johnson from $182.00 to $169.00 and set an “outperform” rating for the company in a report on Thursday, January 23rd. Wells Fargo & Company cut their price target on shares of Johnson & Johnson from $166.00 to $152.00 and set an “equal weight” rating for the company in a report on Thursday, January 23rd. Raymond James cut their price target on shares of Johnson & Johnson from $170.00 to $165.00 and set an “outperform” rating for the company in a report on Thursday, January 23rd. Argus raised shares of Johnson & Johnson to a “strong-buy” rating in a report on Friday, January 24th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $181.00 price target on shares of Johnson & Johnson in a report on Wednesday, February 19th. Nine investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $171.33.

Insider Buying and Selling at Johnson & Johnson

In other Johnson & Johnson news, EVP Timothy Schmid sold 403 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $156.15, for a total transaction of $62,928.45. Following the transaction, the executive vice president now directly owns 15,098 shares of the company’s stock, valued at $2,357,552.70. This represents a 2.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Robert J. Decker sold 6,999 shares of the stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $165.88, for a total transaction of $1,160,994.12. Following the transaction, the vice president now directly owns 21,001 shares in the company, valued at $3,483,645.88. The trade was a 25.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.16% of the company’s stock.

Johnson & Johnson Profile

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.