Summit Wealth & Retirement Planning Inc. Buys 510 Shares of Johnson & Johnson (NYSE:JNJ)

Summit Wealth & Retirement Planning Inc. grew its stake in shares of Johnson & Johnson (NYSE:JNJ) by 33.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,045 shares of the company’s stock after buying an additional 510 shares during the period. Summit Wealth & Retirement Planning Inc.’s holdings in Johnson & Johnson were worth $296,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in JNJ. IFS Advisors LLC raised its position in shares of Johnson & Johnson by 138.9% during the fourth quarter. IFS Advisors LLC now owns 172 shares of the company’s stock valued at $25,000 after buying an additional 100 shares during the last quarter. Highline Wealth Partners LLC purchased a new stake in Johnson & Johnson in the 3rd quarter worth $31,000. Bay Harbor Wealth Management LLC purchased a new position in shares of Johnson & Johnson during the fourth quarter valued at about $32,000. RPg Family Wealth Advisory LLC bought a new stake in shares of Johnson & Johnson in the third quarter worth about $35,000. Finally, Mowery & Schoenfeld Wealth Management LLC lifted its position 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 buying an additional 91 shares in the last quarter. 69.55% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

JNJ has been the topic of a number of research reports. Wolfe Research assumed coverage on Johnson & Johnson in a research note on Friday, November 15th. They issued an “outperform” rating and a $190.00 price objective on the stock. Guggenheim upped their price target 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. Barclays boosted their target price on shares of Johnson & Johnson from $159.00 to $166.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 28th. Stifel Nicolaus lowered their price target on shares of Johnson & Johnson from $170.00 to $155.00 and set a “hold” rating for the company in a report on Thursday, January 23rd. Finally, Bank of America reduced their price objective on Johnson & Johnson from $160.00 to $159.00 and set a “neutral” rating on the stock in a research note on Thursday, January 23rd. Nine equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $170.67.

Insider Activity at Johnson & Johnson

In other Johnson & Johnson news, Director Mark A. Weinberger purchased 1,000 shares of Johnson & Johnson stock in a transaction dated 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 trade represents a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.16% of the stock is currently owned by corporate insiders.

Johnson & Johnson Trading Up 1.3 %

NYSE JNJ opened at $156.18 on Wednesday. Johnson & Johnson has a 12 month low of $140.68 and a 12 month high of $168.85. The company’s 50-day moving average price is $147.40 and its 200-day moving average price is $156.04. The stock has a market cap of $376.02 billion, a PE ratio of 23.49, a PEG ratio of 2.46 and a beta of 0.52. The company has a current ratio of 1.03, a quick ratio of 0.79 and a debt-to-equity ratio of 0.45.

Johnson & Johnson (NYSE:JNJ) last issued its 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 net margin of 18.20% and a return on equity of 34.35%. The business had revenue of $22.52 billion for the quarter, compared to analyst estimates of $22.44 billion. During the same period last year, the company posted $2.29 earnings per share. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. Equities research analysts forecast that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

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 paid a dividend of $1.24 per share. The ex-dividend date is Tuesday, February 18th. This represents a $4.96 annualized dividend and a dividend yield of 3.18%. Johnson & Johnson’s dividend payout ratio is currently 74.59%.

Johnson & Johnson Company 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.