Modern Wealth Management LLC Buys 8,769 Shares of Johnson & Johnson (NYSE:JNJ)

Modern Wealth Management LLC increased its stake in shares of Johnson & Johnson (NYSE:JNJ) by 35.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,386 shares of the company’s stock after purchasing an additional 8,769 shares during the quarter. Modern Wealth Management LLC’s holdings in Johnson & Johnson were worth $5,149,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new position in Johnson & Johnson in the fourth quarter worth $1,339,878,000. Janus Henderson Group PLC boosted its position in shares of Johnson & Johnson by 228.1% in the 3rd quarter. Janus Henderson Group PLC now owns 3,389,361 shares of the company’s stock worth $549,223,000 after purchasing an additional 2,356,359 shares in the last quarter. Vanguard Group Inc. grew its stake in Johnson & Johnson by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 232,792,559 shares of the company’s stock worth $33,666,460,000 after buying an additional 1,772,706 shares during the last quarter. Franklin Resources Inc. increased its position in Johnson & Johnson by 11.4% during the 3rd quarter. Franklin Resources Inc. now owns 16,840,069 shares of the company’s stock valued at $2,721,355,000 after buying an additional 1,729,281 shares in the last quarter. Finally, Amundi boosted its holdings in Johnson & Johnson by 16.2% in the fourth quarter. Amundi now owns 11,930,183 shares of the company’s stock worth $1,698,984,000 after acquiring an additional 1,660,458 shares in the last quarter. Institutional investors own 69.55% of the company’s stock.

Insider Buying and Selling

In other Johnson & Johnson news, EVP Timothy Schmid sold 403 shares of Johnson & Johnson 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 sale, the executive vice president now owns 15,098 shares of the company’s stock, valued at $2,357,552.70. The trade was a 2.60 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Robert J. Decker sold 6,999 shares of the company’s 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 sale, the vice president now directly owns 21,001 shares of the company’s stock, valued at $3,483,645.88. The trade was a 25.00 % decrease in their position. The disclosure for this sale can be found here. 0.16% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on JNJ shares. Argus upgraded shares of Johnson & Johnson to a “strong-buy” rating in a report on Friday, January 24th. Citigroup reduced their target price on Johnson & Johnson from $185.00 to $175.00 and set a “buy” rating for the company in a research note on Wednesday, December 11th. Morgan Stanley dropped their price target on Johnson & Johnson from $175.00 to $163.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 23rd. StockNews.com upgraded Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Saturday, January 25th. Finally, Wells Fargo & Company cut their price target on shares of Johnson & Johnson from $166.00 to $152.00 and set an “equal weight” rating on the stock in a report on Thursday, January 23rd. Nine investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Johnson & Johnson currently has a consensus rating of “Moderate Buy” and an average price target of $171.33.

Johnson & Johnson Stock Performance

Shares of JNJ stock opened at $163.43 on Tuesday. The company has a market capitalization of $393.83 billion, a P/E ratio of 24.58, a P/E/G ratio of 2.56 and a beta of 0.47. Johnson & Johnson has a 12-month low of $140.68 and a 12-month high of $169.99. The business’s 50 day moving average is $157.37 and its two-hundred day moving average is $156.16. The company has a current ratio of 1.11, a quick ratio of 0.86 and a debt-to-equity ratio of 0.43.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings results 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. The firm had revenue of $22.52 billion for the quarter, compared to analysts’ expectations of $22.44 billion. Johnson & Johnson had a net margin of 18.20% and a return on equity of 34.24%. The firm’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter last year, the company earned $2.29 EPS. Analysts expect that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th were paid a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date of this dividend was Tuesday, February 18th. Johnson & Johnson’s dividend payout ratio is presently 74.59%.

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.