Destination Wealth Management Has $43.52 Million Stock Holdings in Johnson & Johnson (NYSE:JNJ)

Destination Wealth Management raised its position in Johnson & Johnson (NYSE:JNJ - Free Report) by 2.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 268,537 shares of the company's stock after buying an additional 7,133 shares during the period. Johnson & Johnson accounts for about 1.3% of Destination Wealth Management's investment portfolio, making the stock its 26th biggest position. Destination Wealth Management's holdings in Johnson & Johnson were worth $43,519,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Innealta Capital LLC acquired a new position in Johnson & Johnson during the 2nd quarter worth about $27,000. Highline Wealth Partners LLC bought a new position in shares of Johnson & Johnson in the third quarter worth about $31,000. RPg Family Wealth Advisory LLC acquired a new position in shares of Johnson & Johnson during the third quarter worth approximately $35,000. Mowery & Schoenfeld Wealth Management LLC grew its stake in shares of Johnson & Johnson by 58.7% during the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 246 shares of the company's stock valued at $40,000 after purchasing an additional 91 shares during the last quarter. Finally, Activest Wealth Management acquired a new stake in shares of Johnson & Johnson in the third quarter valued at approximately $40,000. 69.55% of the stock is owned by institutional investors.

Johnson & Johnson Trading Down 0.3 %

Shares of Johnson & Johnson stock traded down $0.41 during trading hours on Thursday, hitting $146.23. The company's stock had a trading volume of 6,174,458 shares, compared to its average volume of 7,118,662. Johnson & Johnson has a 12 month low of $143.13 and a 12 month high of $168.85. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.03 and a quick ratio of 0.79. The company has a market capitalization of $352.07 billion, a PE ratio of 21.28, a price-to-earnings-growth ratio of 2.66 and a beta of 0.51. The stock has a 50 day moving average of $157.29 and a 200 day moving average of $156.35.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last issued its quarterly earnings data on Tuesday, October 15th. The company reported $2.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.21 by $0.21. The company had revenue of $22.47 billion during the quarter, compared to the consensus estimate of $22.17 billion. Johnson & Johnson had a net margin of 19.14% and a return on equity of 35.45%. The firm's revenue was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.66 earnings per share. Analysts predict that Johnson & Johnson will post 9.93 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Tuesday, November 26th were given a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a yield of 3.39%. The ex-dividend date of this dividend was Tuesday, November 26th. Johnson & Johnson's dividend payout ratio is presently 71.78%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on JNJ. Guggenheim upped their price objective on Johnson & Johnson from $156.00 to $162.00 and gave the stock a "neutral" rating in a report on Wednesday, November 6th. Morgan Stanley raised their price target on Johnson & Johnson from $169.00 to $175.00 and gave the company an "equal weight" rating in a report on Wednesday, October 16th. Wolfe Research initiated coverage on Johnson & Johnson in a report on Friday, November 15th. They set an "outperform" rating and a $190.00 price objective for the company. Cantor Fitzgerald restated an "overweight" rating and set a $215.00 target price on shares of Johnson & Johnson in a research report on Wednesday, October 16th. Finally, Royal Bank of Canada lifted their price target on shares of Johnson & Johnson from $178.00 to $181.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 16th. Seven research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $174.73.

Insiders Place Their Bets

In related news, Director Mark A. Weinberger purchased 1,000 shares of Johnson & Johnson stock in a transaction that occurred on Thursday, December 12th. The stock was purchased at an average cost 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 of the company's stock, valued at approximately $147,220. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.16% of the company's stock.

Johnson & Johnson Company Profile

Johnson & Johnson, together with its subsidiaries, researches, develops, manufactures, and sells various products in the healthcare field worldwide. The company's Innovative Medicine segment offers products for various therapeutic areas, such as immunology, including rheumatoid arthritis, psoriatic arthritis, inflammatory bowel disease, and psoriasis; infectious diseases comprising HIV/AIDS; neuroscience, consisting of mood disorders, neurodegenerative disorders, and schizophrenia; oncology, such as prostate cancer, hematologic malignancies, lung cancer, and bladder cancer; cardiovascular and metabolism, including thrombosis, diabetes, and macular degeneration; and pulmonary hypertension comprising pulmonary arterial hypertension through retailers, wholesalers, distributors, hospitals, and healthcare professionals for prescription use.