Broadway Wealth Solutions Inc. Purchases New Position in Johnson & Johnson (NYSE:JNJ)

Broadway Wealth Solutions Inc. purchased a new stake in Johnson & Johnson (NYSE:JNJ - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 2,897 shares of the company's stock, valued at approximately $419,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vinva Investment Management Ltd lifted its holdings in Johnson & Johnson by 6.8% in the third quarter. Vinva Investment Management Ltd now owns 111,448 shares of the company's stock valued at $17,988,000 after acquiring an additional 7,110 shares during the last quarter. Financial Counselors Inc. increased its position in shares of Johnson & Johnson by 5.3% during the 3rd quarter. Financial Counselors Inc. now owns 185,093 shares of the company's stock worth $29,996,000 after purchasing an additional 9,309 shares during the last quarter. Oregon Pacific Wealth Management LLC purchased a new stake in Johnson & Johnson in the 4th quarter valued at about $949,000. Horan Securities Inc. raised its position in Johnson & Johnson by 1.3% in the fourth quarter. Horan Securities Inc. now owns 7,178 shares of the company's stock valued at $1,038,000 after purchasing an additional 90 shares during the period. Finally, Strategic Financial Concepts LLC boosted its position in shares of Johnson & Johnson by 57.9% during the fourth quarter. Strategic Financial Concepts LLC now owns 3,467 shares of the company's stock worth $501,000 after buying an additional 1,271 shares during the period. Institutional investors and hedge funds own 69.55% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on JNJ shares. Barclays increased their target price on Johnson & Johnson from $159.00 to $166.00 and gave the stock an "equal weight" rating in a research note on Tuesday, January 28th. Citigroup reduced their price objective on shares of Johnson & Johnson from $185.00 to $175.00 and set a "buy" rating on the stock in a report on Wednesday, December 11th. Morgan Stanley dropped their target price on Johnson & Johnson from $175.00 to $163.00 and set an "equal weight" rating on the stock in a report on Thursday, January 23rd. Stifel Nicolaus decreased their price target on Johnson & Johnson from $170.00 to $155.00 and set a "hold" rating for the company in a report on Thursday, January 23rd. Finally, Raymond James dropped their price objective on Johnson & Johnson from $170.00 to $165.00 and set an "outperform" rating on the stock in a report on Thursday, January 23rd. Nine analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Johnson & Johnson currently has an average rating of "Moderate Buy" and a consensus target price of $171.33.

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Johnson & Johnson Price Performance

NYSE:JNJ traded up $2.13 during mid-day trading on Monday, hitting $165.84. 2,973,538 shares of the company's stock traded hands, compared to its average volume of 7,607,582. Johnson & Johnson has a 1 year low of $140.68 and a 1 year high of $169.99. The company has a market cap of $399.64 billion, a PE ratio of 24.95, a price-to-earnings-growth ratio of 2.56 and a beta of 0.47. The firm's 50 day simple moving average is $158.68 and its 200 day simple moving average is $156.07. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.86 and a current ratio of 1.11.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last announced its quarterly earnings results on Wednesday, January 22nd. The company reported $2.04 earnings per share for the quarter, beating analysts' consensus estimates of $1.99 by $0.05. Johnson & Johnson had a net margin of 18.20% and a return on equity of 34.24%. The company had revenue of $22.52 billion for the quarter, compared to analyst estimates of $22.44 billion. During the same quarter last year, the business earned $2.29 EPS. Johnson & Johnson's revenue for the quarter was up 5.3% on a year-over-year basis. Sell-side analysts expect that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th were given a $1.24 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $4.96 annualized dividend and a dividend yield of 2.99%. Johnson & Johnson's payout ratio is 74.59%.

Insiders Place Their Bets

In other Johnson & Johnson news, VP Robert J. Decker sold 6,999 shares of the firm's stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $165.88, for a total value of $1,160,994.12. Following the sale, the vice president now owns 21,001 shares in the company, valued at approximately $3,483,645.88. This trade represents a 25.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Timothy Schmid sold 403 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $156.15, for a total value 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 approximately $2,357,552.70. The trade was a 2.60 % decrease in their position. The disclosure for this sale can be found here. 0.16% of the stock is currently owned by corporate insiders.

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.