SteelPeak Wealth LLC Sells 5,898 Shares of Johnson & Johnson (NYSE:JNJ)

SteelPeak Wealth LLC lowered its stake in shares of Johnson & Johnson (NYSE:JNJ) by 7.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 71,915 shares of the company’s stock after selling 5,898 shares during the quarter. SteelPeak Wealth LLC’s holdings in Johnson & Johnson were worth $10,400,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in JNJ. Powers Advisory Group LLC boosted its position in Johnson & Johnson by 0.6% in the third quarter. Powers Advisory Group LLC now owns 9,489 shares of the company’s stock valued at $1,538,000 after buying an additional 61 shares in the last quarter. Eagle Wealth Strategies LLC raised its stake in shares of Johnson & Johnson by 2.8% in the third quarter. Eagle Wealth Strategies LLC now owns 2,294 shares of the company’s stock valued at $372,000 after acquiring an additional 63 shares during the last quarter. Knuff & Co LLC boosted its holdings in shares of Johnson & Johnson by 0.7% in the 3rd quarter. Knuff & Co LLC now owns 9,466 shares of the company’s stock worth $1,534,000 after acquiring an additional 64 shares in the last quarter. Perkins Coie Trust Co grew its position in Johnson & Johnson by 1.8% during the 3rd quarter. Perkins Coie Trust Co now owns 3,705 shares of the company’s stock worth $600,000 after acquiring an additional 65 shares during the last quarter. Finally, Vertex Planning Partners LLC raised its position in Johnson & Johnson by 1.3% in the 3rd quarter. Vertex Planning Partners LLC now owns 5,211 shares of the company’s stock valued at $844,000 after purchasing an additional 65 shares during the last quarter. Institutional investors and hedge funds own 69.55% of the company’s stock.

Johnson & Johnson Stock Performance

Shares of NYSE:JNJ opened at $152.09 on Friday. The firm’s 50 day simple moving average is $147.67 and its 200 day simple moving average is $156.07. Johnson & Johnson has a fifty-two week low of $140.68 and a fifty-two week high of $168.85. The company has a market capitalization of $366.17 billion, a price-to-earnings ratio of 22.87, a P/E/G ratio of 2.43 and a beta of 0.51. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.03 and a quick ratio of 0.79.

Johnson & Johnson (NYSE:JNJ) last posted its earnings results on Wednesday, January 22nd. The company reported $2.04 earnings per share for the quarter, topping the consensus estimate of $1.99 by $0.05. Johnson & Johnson had a net margin of 18.20% and a return on equity of 34.35%. The company had revenue of $22.52 billion for the quarter, compared to analyst estimates of $22.44 billion. During the same period last year, the business posted $2.29 earnings per share. The business’s revenue for the quarter 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 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th will be issued a $1.24 dividend. The ex-dividend date is Tuesday, February 18th. This represents a $4.96 annualized dividend and a dividend yield of 3.26%. Johnson & Johnson’s dividend payout ratio (DPR) is currently 74.59%.

Insider Transactions at Johnson & Johnson

In other Johnson & Johnson news, Director Mark A. Weinberger bought 1,000 shares of the stock in a transaction that occurred on Thursday, December 12th. The stock was acquired at an average cost of $147.22 per share, with a total value of $147,220.00. Following the purchase, the director now owns 1,000 shares in the company, valued at $147,220. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.16% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on JNJ shares. Wells Fargo & Company decreased their target price on Johnson & Johnson from $166.00 to $152.00 and set an “equal weight” rating on the stock in a report on Thursday, January 23rd. 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 Thursday, January 23rd. Bank of America reduced their target price on shares of Johnson & Johnson from $160.00 to $159.00 and set a “neutral” rating on the stock in a research report on Thursday, January 23rd. Guggenheim raised their price target on shares of Johnson & Johnson from $156.00 to $162.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. Finally, Leerink Partners reduced their price objective on Johnson & Johnson from $182.00 to $169.00 and set an “outperform” rating on the stock in a report on Thursday, January 23rd. Nine research 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 stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $170.44.

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.