Lorne Steinberg Wealth Management Inc. Has $4.62 Million Stake in Johnson & Johnson (NYSE:JNJ)

Lorne Steinberg Wealth Management Inc. grew its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 0.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 31,976 shares of the company’s stock after purchasing an additional 198 shares during the period. Lorne Steinberg Wealth Management Inc.’s holdings in Johnson & Johnson were worth $4,624,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the business. IFS Advisors LLC raised its stake in Johnson & Johnson by 138.9% in the fourth quarter. IFS Advisors LLC now owns 172 shares of the company’s stock valued at $25,000 after purchasing an additional 100 shares in the last quarter. Highline Wealth Partners LLC bought a new position in Johnson & Johnson in the 3rd quarter valued at about $31,000. RPg Family Wealth Advisory LLC bought a new stake in shares of Johnson & Johnson during the 3rd quarter worth approximately $35,000. Bay Harbor Wealth Management LLC acquired a new stake in shares of Johnson & Johnson during the 4th quarter worth approximately $32,000. Finally, Mowery & Schoenfeld Wealth Management LLC increased its stake in Johnson & Johnson by 58.7% in the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 246 shares of the company’s stock valued at $40,000 after acquiring an additional 91 shares during the last quarter. 69.55% of the stock is owned by institutional investors.

Johnson & Johnson Trading Up 1.7 %

Shares of JNJ stock opened at $162.35 on Friday. The stock has a 50-day moving average of $148.93 and a 200-day moving average of $155.90. The company has a current ratio of 1.11, a quick ratio of 0.86 and a debt-to-equity ratio of 0.43. The stock has a market cap of $390.87 billion, a price-to-earnings ratio of 24.41, a PEG ratio of 2.53 and a beta of 0.52. Johnson & Johnson has a 1-year low of $140.68 and a 1-year high of $168.85.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings results on Wednesday, January 22nd. The company reported $2.04 earnings per share (EPS) 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 34.24%. The firm had revenue of $22.52 billion during the quarter, compared to analyst estimates of $22.44 billion. During the same quarter last year, the business earned $2.29 EPS. The company’s revenue was up 5.3% compared to the same quarter last year. On average, equities research analysts forecast that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 4th. Shareholders 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 yield of 3.06%. Johnson & Johnson’s dividend payout ratio (DPR) is currently 74.59%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on JNJ shares. Raymond James reduced their target price on Johnson & Johnson from $170.00 to $165.00 and set an “outperform” rating on the stock in a report on Thursday, January 23rd. Citigroup decreased their target price on Johnson & Johnson from $185.00 to $175.00 and set a “buy” rating on the stock in a research report on Wednesday, December 11th. Leerink Partners reduced their price target on shares of Johnson & Johnson from $182.00 to $169.00 and set an “outperform” rating on the stock in a research note on Thursday, January 23rd. Royal Bank of Canada reissued an “outperform” rating and issued a $181.00 price objective on shares of Johnson & Johnson in a research note on Wednesday. Finally, Wolfe Research initiated coverage on shares of Johnson & Johnson in a research note on Friday, November 15th. They set an “outperform” rating and a $190.00 target price on the stock. Nine research 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.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $170.67.

Insiders Place Their Bets

In other Johnson & Johnson news, EVP Timothy Schmid sold 403 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $156.15, for a total value of $62,928.45. Following the transaction, the executive vice president now directly owns 15,098 shares of the company’s stock, valued at approximately $2,357,552.70. The trade was a 2.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mark A. Weinberger acquired 1,000 shares of Johnson & Johnson stock in a transaction dated Thursday, December 12th. The shares were bought at an average cost of $147.22 per share, with a total value of $147,220.00. Following the transaction, the director now owns 1,000 shares in the company, valued at approximately $147,220. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.16% of the company’s stock.

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.