Golden State Wealth Management LLC Invests $608,000 in Johnson & Johnson (NYSE:JNJ)

Golden State Wealth Management LLC acquired a new position in shares of Johnson & Johnson (NYSE:JNJ) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 4,203 shares of the company’s stock, valued at approximately $608,000.

Other institutional investors also recently bought and sold shares of the company. State Street Corp raised its position in shares of Johnson & Johnson by 0.9% during the 3rd quarter. State Street Corp now owns 134,245,811 shares of the company’s stock worth $21,755,874,000 after purchasing an additional 1,154,088 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Johnson & Johnson by 1.8% in the third quarter. Geode Capital Management LLC now owns 56,106,884 shares of the company’s stock worth $9,064,149,000 after acquiring an additional 1,004,763 shares during the last quarter. FMR LLC lifted its position in shares of Johnson & Johnson by 7.4% in the third quarter. FMR LLC now owns 18,316,920 shares of the company’s stock valued at $2,968,440,000 after acquiring an additional 1,265,748 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Johnson & Johnson by 0.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 17,639,368 shares of the company’s stock valued at $2,858,543,000 after acquiring an additional 102,502 shares during the last quarter. Finally, Franklin Resources Inc. increased its position in Johnson & Johnson by 11.4% during the 3rd quarter. Franklin Resources Inc. now owns 16,840,069 shares of the company’s stock worth $2,721,355,000 after purchasing an additional 1,729,281 shares in the last quarter. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Mark A. Weinberger acquired 1,000 shares of the business’s stock in a transaction on Thursday, December 12th. The shares were purchased at an average price of $147.22 per share, for a total transaction of $147,220.00. Following the acquisition, the director now directly owns 1,000 shares of the company’s stock, valued at $147,220. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.16% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on JNJ shares. Wells Fargo & Company cut their price objective on shares of Johnson & Johnson from $166.00 to $152.00 and set an “equal weight” rating for the company in a research report on Thursday, January 23rd. Morgan Stanley reduced their price target on Johnson & Johnson from $175.00 to $163.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 23rd. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $215.00 price objective on shares of Johnson & Johnson in a research report on Wednesday, October 16th. Barclays increased their target price on Johnson & Johnson from $159.00 to $166.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 28th. Finally, Wolfe Research assumed coverage on Johnson & Johnson in a report on Friday, November 15th. They issued an “outperform” rating and a $190.00 price target for the company. Nine research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Johnson & Johnson currently has an average rating of “Moderate Buy” and a consensus price target of $170.67.

Johnson & Johnson Stock Performance

NYSE:JNJ opened at $154.22 on Tuesday. Johnson & Johnson has a twelve month low of $140.68 and a twelve month high of $168.85. The firm has a market capitalization of $371.31 billion, a price-to-earnings ratio of 23.19, 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. The firm’s fifty day simple moving average is $147.42 and its 200 day simple moving average is $156.08.

Johnson & Johnson (NYSE:JNJ) last issued 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. The company had revenue of $22.52 billion during the quarter, compared to the consensus estimate of $22.44 billion. Johnson & Johnson had a return on equity of 34.35% and a net margin of 18.20%. The company’s revenue was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.29 earnings per share. As a group, equities 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 announced a quarterly dividend, which will be paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th will be given a dividend of $1.24 per share. The ex-dividend date is Tuesday, February 18th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.22%. Johnson & Johnson’s payout ratio is currently 74.59%.

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.