Investment Counsel Co. of Nevada Acquires Shares of 26,503 Johnson & Johnson (NYSE:JNJ)

Investment Counsel Co. of Nevada purchased a new stake in Johnson & Johnson (NYSE:JNJ) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 26,503 shares of the company’s stock, valued at approximately $3,833,000. Johnson & Johnson accounts for about 9.7% of Investment Counsel Co. of Nevada’s portfolio, making the stock its 3rd largest position.

A number of other hedge funds also recently added to or reduced their stakes in JNJ. Belpointe Asset Management LLC grew its position in shares of Johnson & Johnson by 0.7% in the fourth quarter. Belpointe Asset Management LLC now owns 23,712 shares of the company’s stock valued at $3,429,000 after purchasing an additional 170 shares during the last quarter. Hanlon Investment Management Inc. increased its position in Johnson & Johnson by 10.1% during the fourth quarter. Hanlon Investment Management Inc. now owns 2,544 shares of the company’s stock worth $368,000 after buying an additional 233 shares in the last quarter. CreativeOne Wealth LLC boosted its stake in shares of Johnson & Johnson by 69.1% during the fourth quarter. CreativeOne Wealth LLC now owns 28,241 shares of the company’s stock valued at $4,084,000 after acquiring an additional 11,541 shares during the last quarter. Mariner LLC raised its stake in Johnson & Johnson by 2.4% in the 4th quarter. Mariner LLC now owns 1,615,121 shares of the company’s stock valued at $233,566,000 after purchasing an additional 38,169 shares during the last quarter. Finally, Cohen & Steers Inc. boosted its stake in shares of Johnson & Johnson by 5.3% during the 4th quarter. Cohen & Steers Inc. now owns 2,472 shares of the company’s stock worth $358,000 after purchasing an additional 125 shares during the last quarter. 69.55% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently commented on JNJ shares. Stifel Nicolaus dropped their price target on shares of Johnson & Johnson from $170.00 to $155.00 and set a “hold” rating for the company in a research report on Thursday, January 23rd. Guggenheim reiterated a “neutral” rating on shares of Johnson & Johnson in a research note on Wednesday, April 2nd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $181.00 price target on shares of Johnson & Johnson in a report on Wednesday, April 2nd. Morgan Stanley boosted their price target on shares of Johnson & Johnson from $163.00 to $164.00 and gave the company an “equal weight” rating in a report on Wednesday, April 9th. Finally, Wells Fargo & Company decreased their target price on shares of Johnson & Johnson from $166.00 to $152.00 and set an “equal weight” rating for the company in a research report on Thursday, January 23rd. Eight investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, Johnson & Johnson currently has a consensus rating of “Moderate Buy” and an average price target of $171.67.

Insider Activity

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

Johnson & Johnson Stock Up 2.0 %

Shares of NYSE JNJ opened at $151.62 on Monday. The company has a quick ratio of 0.86, a current ratio of 1.11 and a debt-to-equity ratio of 0.43. The firm’s fifty day moving average is $159.40 and its 200 day moving average is $155.17. The company has a market cap of $365.39 billion, a price-to-earnings ratio of 22.80, a PEG ratio of 2.56 and a beta of 0.49. Johnson & Johnson has a 52 week low of $140.68 and a 52 week high of $169.99.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings results on Wednesday, January 22nd. The company reported $2.04 earnings per share for the quarter, beating the consensus estimate 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 firm’s revenue was up 5.3% on a year-over-year basis. During the same period in the previous year, the company posted $2.29 earnings per share. On average, equities research analysts expect that Johnson & Johnson will post 10.58 earnings per share for the current year.

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.