Cove Private Wealth LLC Purchases 1,206 Shares of Johnson & Johnson (NYSE:JNJ)

Cove Private Wealth LLC boosted its position in Johnson & Johnson (NYSE:JNJ) by 14.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 9,692 shares of the company’s stock after acquiring an additional 1,206 shares during the period. Cove Private Wealth LLC’s holdings in Johnson & Johnson were worth $1,402,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. IFS Advisors LLC boosted its holdings in Johnson & Johnson by 138.9% in the fourth quarter. IFS Advisors LLC now owns 172 shares of the company’s stock worth $25,000 after acquiring an additional 100 shares in the last quarter. Highline Wealth Partners LLC bought a new position in Johnson & Johnson in the third quarter worth approximately $31,000. RPg Family Wealth Advisory LLC purchased a new stake in shares of Johnson & Johnson in the third quarter worth approximately $35,000. Mowery & Schoenfeld Wealth Management LLC raised its stake in shares of Johnson & Johnson by 58.7% in the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 246 shares of the company’s stock worth $40,000 after purchasing an additional 91 shares during the last quarter. Finally, Activest Wealth Management purchased a new stake in shares of Johnson & Johnson in the third quarter worth approximately $40,000. Institutional investors own 69.55% of the company’s stock.

Wall Street Analysts Forecast Growth

JNJ has been the subject of several analyst reports. Barclays lowered their price objective on Johnson & Johnson from $160.00 to $159.00 and set an “equal weight” rating for the company in a research note on Tuesday. Bank of America lowered their price objective on Johnson & Johnson from $166.00 to $160.00 and set a “neutral” rating for the company in a research note on Friday, January 17th. Citigroup lowered their price objective on Johnson & Johnson from $185.00 to $175.00 and set a “buy” rating for the company in a research note on Wednesday, December 11th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $215.00 price target on shares of Johnson & Johnson in a research report on Wednesday, October 16th. Finally, StockNews.com downgraded Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 17th. Eight equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Johnson & Johnson has a consensus rating of “Hold” and a consensus target price of $173.27.

Insider Transactions at Johnson & Johnson

In related news, Director Mark A. Weinberger purchased 1,000 shares of the business’s stock in a transaction dated 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 acquisition, the director now directly 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 purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.16% of the company’s stock.

Johnson & Johnson Stock Performance

NYSE:JNJ opened at $145.39 on Thursday. 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 business has a fifty day simple moving average of $148.26 and a two-hundred day simple moving average of $156.12. Johnson & Johnson has a 1 year low of $140.68 and a 1 year high of $168.85. The company has a market capitalization of $350.04 billion, a P/E ratio of 21.04, a P/E/G ratio of 2.50 and a beta of 0.51.

Johnson & Johnson (NYSE:JNJ) last posted 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. Johnson & Johnson had a return on equity of 35.45% and a net margin of 19.14%. The firm had revenue of $22.52 billion during the quarter, compared to analyst estimates of $22,438,500 billion. During the same period last year, the company earned $2.29 earnings per share. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. On average, analysts expect that Johnson & Johnson will post 9.95 earnings per share for the current year.

Johnson & Johnson Announces Dividend

The business 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 $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.41%. The ex-dividend date of this dividend is Tuesday, February 18th. Johnson & Johnson’s payout ratio is currently 71.78%.

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.