Grant Private Wealth Management Inc Invests $306,000 in Johnson & Johnson (NYSE:JNJ)

Grant Private Wealth Management Inc purchased a new position in Johnson & Johnson (NYSE:JNJ) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,113 shares of the company’s stock, valued at approximately $306,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Norges Bank bought a new stake in shares of Johnson & Johnson during the fourth quarter worth $4,390,037,000. Raymond James Financial Inc. bought a new stake in shares of Johnson & Johnson during the fourth quarter worth approximately $1,339,878,000. Vanguard Group Inc. grew its stake in shares of Johnson & Johnson by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 232,792,559 shares of the company’s stock worth $33,666,460,000 after purchasing an additional 1,772,706 shares during the period. Franklin Resources Inc. increased its stake in shares of Johnson & Johnson by 11.4% in the 3rd quarter. Franklin Resources Inc. now owns 16,840,069 shares of the company’s stock valued at $2,721,355,000 after acquiring an additional 1,729,281 shares during the last quarter. Finally, Amundi raised its holdings in Johnson & Johnson by 16.2% in the fourth quarter. Amundi now owns 11,930,183 shares of the company’s stock worth $1,698,984,000 after purchasing an additional 1,660,458 shares during the period. Institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Stock Performance

Shares of NYSE JNJ opened at $155.41 on Thursday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.86 and a current ratio of 1.11. The stock has a 50 day moving average price of $159.36 and a 200 day moving average price of $155.98. The stock has a market capitalization of $374.51 billion, a PE ratio of 23.37, a price-to-earnings-growth ratio of 2.56 and a beta of 0.47. Johnson & Johnson has a 52 week low of $140.68 and a 52 week high of $169.99.

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 analysts’ consensus estimates of $1.99 by $0.05. Johnson & Johnson had a net margin of 18.20% and a return on equity of 34.24%. The business had revenue of $22.52 billion for the quarter, compared to the consensus estimate of $22.44 billion. During the same period in the previous year, the company earned $2.29 earnings per share. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. Analysts predict that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on JNJ. Argus raised Johnson & Johnson to a “strong-buy” rating in a research note on Friday, January 24th. Bank of America boosted their price objective on Johnson & Johnson from $159.00 to $171.00 and gave the company a “neutral” rating in a research report on Wednesday, March 5th. Leerink Partners cut 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. Stifel Nicolaus lowered their price objective on shares of Johnson & Johnson from $170.00 to $155.00 and set a “hold” rating for the company in a research report on Thursday, January 23rd. Finally, StockNews.com raised shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Saturday, January 25th. 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 company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $171.33.

Insider Activity

In related news, VP Robert J. Decker sold 6,999 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $165.88, for a total transaction of $1,160,994.12. Following the transaction, the vice president now directly owns 21,001 shares of the company’s stock, valued at approximately $3,483,645.88. The trade was a 25.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Timothy Schmid sold 403 shares of Johnson & Johnson stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $156.15, for a total transaction 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. This trade represents a 2.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.16% of the stock is owned by insiders.

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.