Rialto Wealth Management LLC Acquires New Position in Johnson & Johnson (NYSE:JNJ)

Rialto Wealth Management LLC bought a new position in Johnson & Johnson (NYSE:JNJ - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 2,210 shares of the company's stock, valued at approximately $320,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. State Street Corp grew its stake in Johnson & Johnson by 0.9% in the 3rd quarter. State Street Corp now owns 134,245,811 shares of the company's stock valued at $21,755,874,000 after buying an additional 1,154,088 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Johnson & Johnson by 1.8% in the third quarter. Geode Capital Management LLC now owns 56,106,884 shares of the company's stock valued at $9,064,149,000 after purchasing an additional 1,004,763 shares in the last quarter. FMR LLC raised its stake in shares of Johnson & Johnson by 7.4% during the 3rd quarter. FMR LLC now owns 18,316,920 shares of the company's stock valued at $2,968,440,000 after purchasing an additional 1,265,748 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Johnson & Johnson by 3.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 18,187,082 shares of the company's stock valued at $2,630,216,000 after buying an additional 547,714 shares in the last quarter. Finally, Franklin Resources Inc. increased its position in shares of Johnson & Johnson by 11.4% during the third 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 during the period. Institutional investors own 69.55% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Wells Fargo & Company decreased their target price 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. Guggenheim increased their price objective on Johnson & Johnson from $162.00 to $166.00 and gave the stock a "neutral" rating in a research report on Monday, February 3rd. Argus upgraded Johnson & Johnson to a "strong-buy" rating in a research report on Friday, January 24th. Royal Bank of Canada restated an "outperform" rating and issued a $181.00 price objective on shares of Johnson & Johnson in a research report on Wednesday, February 19th. Finally, Bank of America lifted their target price on shares of Johnson & Johnson from $159.00 to $171.00 and gave the company a "neutral" rating in a research report on Wednesday. Nine investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, Johnson & Johnson currently has a consensus rating of "Moderate Buy" and a consensus target price of $171.33.

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Johnson & Johnson Trading Up 0.6 %

NYSE JNJ opened at $166.81 on Friday. The stock has a 50-day moving average of $152.95 and a 200-day moving average of $156.28. 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 has a 1-year low of $140.68 and a 1-year high of $169.99. The firm has a market cap of $401.61 billion, a PE ratio of 25.08, a price-to-earnings-growth ratio of 2.56 and a beta of 0.47.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last released its quarterly earnings data 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 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 analyst estimates of $22.44 billion. During the same quarter in the prior year, the firm posted $2.29 earnings per share. The business's quarterly revenue was up 5.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th were given a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a dividend yield of 2.97%. The ex-dividend date of this dividend was Tuesday, February 18th. Johnson & Johnson's payout ratio is 74.59%.

Insider Activity

In other Johnson & Johnson news, Director Mark A. Weinberger acquired 1,000 shares of the company's stock in a transaction on Thursday, December 12th. The stock was acquired at an average price of $147.22 per share, for a total transaction of $147,220.00. Following the acquisition, the director now owns 1,000 shares in the company, valued at $147,220. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Timothy Schmid sold 403 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $156.15, for a total value of $62,928.45. Following the transaction, the executive vice president now directly owns 15,098 shares in the company, valued at $2,357,552.70. This trade represents 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 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.

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