Elevation Wealth Partners LLC Has $668,000 Stock Holdings in Johnson & Johnson (NYSE:JNJ)

Elevation Wealth Partners LLC reduced its stake in shares of Johnson & Johnson (NYSE:JNJ) by 7.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,621 shares of the company’s stock after selling 396 shares during the period. Elevation Wealth Partners LLC’s holdings in Johnson & Johnson were worth $668,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. AMF Tjanstepension AB lifted its holdings in Johnson & Johnson by 14.2% in the third quarter. AMF Tjanstepension AB now owns 425,261 shares of the company’s stock valued at $68,985,000 after buying an additional 52,997 shares during the period. Alpha Financial Partners LLC bought a new stake in shares of Johnson & Johnson during the 3rd quarter valued at about $209,000. Wealth Group Ltd. acquired a new stake in Johnson & Johnson during the third quarter worth approximately $213,000. Wedge Capital Management L L P NC lifted its stake in Johnson & Johnson by 2.2% in the third quarter. Wedge Capital Management L L P NC now owns 4,039 shares of the company’s stock valued at $655,000 after buying an additional 86 shares during the period. Finally, Creative Planning boosted its holdings in shares of Johnson & Johnson by 4.3% during the 3rd quarter. Creative Planning now owns 988,403 shares of the company’s stock worth $160,181,000 after buying an additional 41,082 shares in the last quarter. 69.55% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Mark A. Weinberger bought 1,000 shares of Johnson & Johnson 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 transaction, 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.16% of the stock is currently owned by corporate insiders.

Johnson & Johnson Trading Down 0.6 %

Shares of JNJ stock opened at $155.23 on Thursday. Johnson & Johnson has a 52-week low of $140.68 and a 52-week high of $168.85. The company has a 50-day simple moving average of $147.48 and a two-hundred day simple moving average of $156.01. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.79 and a current ratio of 1.03. The company has a market capitalization of $373.73 billion, a price-to-earnings ratio of 23.34, a PEG ratio of 2.46 and a beta of 0.52.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings results on Wednesday, January 22nd. The company reported $2.04 EPS for the quarter, beating analysts’ consensus estimates 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%. Johnson & Johnson’s revenue was up 5.3% on a year-over-year basis. During the same period last year, the business posted $2.29 earnings per share. Research analysts anticipate that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 4th. Investors 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 annualized dividend and a yield of 3.20%. Johnson & Johnson’s payout ratio is currently 74.59%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Cantor Fitzgerald reiterated an “overweight” rating and set a $215.00 target price on shares of Johnson & Johnson in a research report on Wednesday, October 16th. Guggenheim raised their target price on Johnson & Johnson from $162.00 to $166.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Citigroup decreased their target price on Johnson & Johnson from $185.00 to $175.00 and set a “buy” rating for the company in a research report on Wednesday, December 11th. Stifel Nicolaus reduced their price objective on Johnson & Johnson from $170.00 to $155.00 and set a “hold” rating for the company in a research note on Thursday, January 23rd. Finally, Leerink Partners decreased their price objective on Johnson & Johnson from $182.00 to $169.00 and set an “outperform” rating for the company in a report on Thursday, January 23rd. Nine investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target 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.