Bay Harbor Wealth Management LLC Buys New Stake in Johnson & Johnson (NYSE:JNJ)

Bay Harbor Wealth Management LLC bought a new stake in Johnson & Johnson (NYSE:JNJ) during the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 223 shares of the company’s stock, valued at approximately $32,000.

A number of other hedge funds have also recently modified their holdings of JNJ. E. Ohman J or Asset Management AB boosted its stake in Johnson & Johnson by 12.1% during the 4th quarter. E. Ohman J or Asset Management AB now owns 109,740 shares of the company’s stock worth $15,871,000 after purchasing an additional 11,840 shares during the period. James J. Burns & Company LLC boosted its stake in Johnson & Johnson by 13.3% during the 4th quarter. James J. Burns & Company LLC now owns 8,609 shares of the company’s stock worth $1,245,000 after purchasing an additional 1,012 shares during the period. Mather Group LLC. lifted its stake in shares of Johnson & Johnson by 1.8% in the 4th quarter. Mather Group LLC. now owns 131,844 shares of the company’s stock worth $19,067,000 after acquiring an additional 2,315 shares during the period. Stephens Consulting LLC lifted its stake in shares of Johnson & Johnson by 9.2% in the 4th quarter. Stephens Consulting LLC now owns 4,143 shares of the company’s stock worth $599,000 after acquiring an additional 349 shares during the period. Finally, Commonwealth Financial Services LLC lifted its stake in shares of Johnson & Johnson by 11.2% in the 4th quarter. Commonwealth Financial Services LLC now owns 4,008 shares of the company’s stock worth $580,000 after acquiring an additional 403 shares during the period. 69.55% of the stock is owned by hedge funds and other institutional investors.

Johnson & Johnson Stock Performance

NYSE:JNJ opened at $153.10 on Friday. The company has a market capitalization of $368.61 billion, a P/E ratio of 23.02, a price-to-earnings-growth ratio of 2.44 and a beta of 0.52. Johnson & Johnson has a twelve month low of $140.68 and a twelve month high of $168.85. The company has a current ratio of 1.03, a quick ratio of 0.79 and a debt-to-equity ratio of 0.45. The firm has a 50-day moving average price of $147.46 and a two-hundred day moving average price of $156.06.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings results on Wednesday, January 22nd. The company reported $2.04 EPS for the quarter, topping analysts’ consensus estimates of $1.99 by $0.05. The business had revenue of $22.52 billion during the quarter, compared to the consensus estimate of $22.44 billion. Johnson & Johnson had a net margin of 18.20% and a return on equity of 34.35%. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.29 earnings per share. As a group, research analysts expect that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th will be issued a dividend of $1.24 per share. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.24%. Johnson & Johnson’s dividend payout ratio (DPR) is presently 74.59%.

Insider Transactions at Johnson & Johnson

In related news, Director Mark A. Weinberger bought 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The shares were acquired 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. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.16% of the company’s stock.

Analyst Upgrades and Downgrades

JNJ has been the subject of several recent analyst reports. Stifel Nicolaus reduced their target price on shares of Johnson & Johnson from $170.00 to $155.00 and set a “hold” rating for the company in a research note on Thursday, January 23rd. Leerink Partners reduced their target price on shares of Johnson & Johnson from $182.00 to $169.00 and set an “outperform” rating for the company in a research note on Thursday, January 23rd. Morgan Stanley reduced their target price on shares of Johnson & Johnson from $175.00 to $163.00 and set an “equal weight” rating for the company in a research note on Thursday, January 23rd. Guggenheim raised their price objective on shares of Johnson & Johnson from $162.00 to $166.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Finally, Bank of America reduced their price objective on shares of Johnson & Johnson from $160.00 to $159.00 and set a “neutral” rating for the company in a research note on Thursday, January 23rd. Nine investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $170.67.

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.