Red Door Wealth Management LLC Grows Stock Holdings in Johnson & Johnson (NYSE:JNJ)

Red Door Wealth Management LLC grew its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 5.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 46,401 shares of the company’s stock after buying an additional 2,552 shares during the quarter. Johnson & Johnson accounts for approximately 1.6% of Red Door Wealth Management LLC’s holdings, making the stock its 16th biggest holding. Red Door Wealth Management LLC’s holdings in Johnson & Johnson were worth $7,273,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. DORCHESTER WEALTH MANAGEMENT Co boosted its stake in shares of Johnson & Johnson by 8.6% during the 1st quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 67,618 shares of the company’s stock worth $14,975,000 after purchasing an additional 5,327 shares during the period. Cantor Fitzgerald Investment Advisor L.P grew its stake in shares of Johnson & Johnson by 88.9% during the first quarter. Cantor Fitzgerald Investment Advisor L.P now owns 175,194 shares of the company’s stock valued at $31,049,000 after buying an additional 82,429 shares during the last quarter. AMI Investment Management Inc. raised its holdings in shares of Johnson & Johnson by 8.8% in the first quarter. AMI Investment Management Inc. now owns 18,305 shares of the company’s stock worth $3,244,000 after buying an additional 1,475 shares during the period. Equitable Holdings Inc. lifted its stake in shares of Johnson & Johnson by 4.9% during the 1st quarter. Equitable Holdings Inc. now owns 45,673 shares of the company’s stock worth $8,095,000 after acquiring an additional 2,119 shares during the last quarter. Finally, USS Investment Management Ltd boosted its holdings in Johnson & Johnson by 2.4% during the 1st quarter. USS Investment Management Ltd now owns 860,371 shares of the company’s stock valued at $152,488,000 after acquiring an additional 20,528 shares during the period. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Stock Up 1.4 %

Shares of NYSE JNJ opened at $157.96 on Thursday. Johnson & Johnson has a 12-month low of $144.95 and a 12-month high of $175.97. The stock’s fifty day simple moving average is $158.76 and its two-hundred day simple moving average is $156.69. The stock has a market capitalization of $380.65 billion, a PE ratio of 11.44, a price-to-earnings-growth ratio of 2.62 and a beta of 0.53. The company has a current ratio of 1.16, a quick ratio of 0.91 and a debt-to-equity ratio of 0.38.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings data on Tuesday, January 23rd. The company reported $2.29 earnings per share for the quarter, beating analysts’ consensus estimates of $2.28 by $0.01. The company had revenue of $21.40 billion for the quarter, compared to the consensus estimate of $21.02 billion. Johnson & Johnson had a return on equity of 37.27% and a net margin of 37.79%. The firm’s revenue for the quarter was down 9.7% compared to the same quarter last year. During the same quarter last year, the company earned $2.35 earnings per share. As a group, analysts expect that Johnson & Johnson will post 10.65 EPS for the current fiscal year.

Johnson & Johnson Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 5th. Investors of record on Tuesday, February 20th were given a dividend of $1.19 per share. The ex-dividend date of this dividend was Friday, February 16th. This represents a $4.76 dividend on an annualized basis and a yield of 3.01%. Johnson & Johnson’s payout ratio is 34.47%.

Insider Buying and Selling at Johnson & Johnson

In other news, EVP Jennifer L. Taubert sold 59,397 shares of the company’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $156.27, for a total transaction of $9,281,969.19. Following the transaction, the executive vice president now directly owns 141,416 shares of the company’s stock, valued at $22,099,078.32. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, EVP Jennifer L. Taubert sold 59,397 shares of the business’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $156.27, for a total transaction of $9,281,969.19. Following the transaction, the executive vice president now directly owns 141,416 shares in the company, valued at approximately $22,099,078.32. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder & Johnson Johnson sold 3,725 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $25.81, for a total value of $96,142.25. Following the completion of the sale, the insider now owns 4,099,575 shares of the company’s stock, valued at $105,810,030.75. The disclosure for this sale can be found here. 0.16% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on JNJ. StockNews.com raised shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, February 6th. Morgan Stanley lowered their price objective on shares of Johnson & Johnson from $170.00 to $169.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 24th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $181.00 price target on shares of Johnson & Johnson in a research note on Wednesday, February 28th. UBS Group raised Johnson & Johnson from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $167.00 to $180.00 in a research note on Friday, December 1st. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $215.00 price objective on shares of Johnson & Johnson in a report on Wednesday, March 13th. Seven research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Johnson & Johnson presently has an average rating of “Moderate Buy” and a consensus target price of $177.31.

About Johnson & Johnson

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.