SteelPeak Wealth LLC Buys 12,618 Shares of Johnson & Johnson (NYSE:JNJ)

SteelPeak Wealth LLC grew its stake in shares of Johnson & Johnson (NYSE:JNJ) by 21.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 71,027 shares of the company’s stock after purchasing an additional 12,618 shares during the period. SteelPeak Wealth LLC’s holdings in Johnson & Johnson were worth $10,381,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. Eagle Strategies LLC lifted its stake in Johnson & Johnson by 1.8% in the 4th quarter. Eagle Strategies LLC now owns 3,589 shares of the company’s stock worth $563,000 after acquiring an additional 63 shares in the last quarter. Alliance Wealth Advisors LLC UT increased its holdings in shares of Johnson & Johnson by 1.4% during the 4th quarter. Alliance Wealth Advisors LLC UT now owns 4,714 shares of the company’s stock valued at $739,000 after acquiring an additional 64 shares during the last quarter. Carolinas Wealth Consulting LLC grew its holdings in Johnson & Johnson by 0.4% in the 4th quarter. Carolinas Wealth Consulting LLC now owns 16,861 shares of the company’s stock valued at $2,643,000 after buying an additional 64 shares during the last quarter. Adamsbrown Wealth Consultants LLC lifted its position in shares of Johnson & Johnson by 2.3% in the 4th quarter. Adamsbrown Wealth Consultants LLC now owns 2,879 shares of the company’s stock worth $451,000 after acquiring an additional 65 shares during the period. Finally, Verity Asset Management Inc. lifted its position in shares of Johnson & Johnson by 2.0% in the 4th quarter. Verity Asset Management Inc. now owns 3,268 shares of the company’s stock worth $512,000 after acquiring an additional 65 shares during the period. Institutional investors own 69.55% of the company’s stock.

Analysts Set New Price Targets

JNJ has been the subject of several analyst reports. HSBC upgraded Johnson & Johnson from a “hold” rating to a “buy” rating and raised their target price for the stock from $169.00 to $170.00 in a research report on Thursday, April 18th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $215.00 price objective on shares of Johnson & Johnson in a research note on Monday, August 5th. StockNews.com lowered Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 8th. The Goldman Sachs Group reduced their target price on Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating on the stock in a report on Friday, July 19th. Finally, Sanford C. Bernstein boosted their price target on Johnson & Johnson from $161.00 to $171.00 in a report on Thursday, July 18th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Johnson & Johnson has an average rating of “Moderate Buy” and an average target price of $173.21.

Johnson & Johnson Stock Performance

JNJ stock traded up $0.62 on Thursday, hitting $159.10. The company had a trading volume of 7,237,481 shares, compared to its average volume of 7,355,802. Johnson & Johnson has a 12-month low of $143.13 and a 12-month high of $175.39. The company has a current ratio of 1.07, a quick ratio of 0.85 and a debt-to-equity ratio of 0.44. The stock’s 50-day simple moving average is $151.88 and its 200 day simple moving average is $153.10. The stock has a market cap of $382.90 billion, a price-to-earnings ratio of 9.90, a P/E/G ratio of 2.63 and a beta of 0.52.

Johnson & Johnson (NYSE:JNJ) last released its earnings results on Wednesday, July 17th. The company reported $2.82 earnings per share for the quarter, beating analysts’ consensus estimates of $2.71 by $0.11. The company had revenue of $22.45 billion for the quarter, compared to analysts’ expectations of $22.33 billion. Johnson & Johnson had a net margin of 46.34% and a return on equity of 36.60%. Johnson & Johnson’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.80 EPS. As a group, equities research analysts expect that Johnson & Johnson will post 10.07 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Tuesday, August 27th will be issued a dividend of $1.24 per share. The ex-dividend date is Tuesday, August 27th. This represents a $4.96 annualized dividend and a yield of 3.12%. Johnson & Johnson’s payout ratio is 30.92%.

About Johnson & Johnson

Johnson & Johnson, together with its subsidiaries, researches, develops, manufactures, and sells various products in the healthcare field worldwide. The company's Innovative Medicine segment offers products for various therapeutic areas, such as immunology, including rheumatoid arthritis, psoriatic arthritis, inflammatory bowel disease, and psoriasis; infectious diseases comprising HIV/AIDS; neuroscience, consisting of mood disorders, neurodegenerative disorders, and schizophrenia; oncology, such as prostate cancer, hematologic malignancies, lung cancer, and bladder cancer; cardiovascular and metabolism, including thrombosis, diabetes, and macular degeneration; and pulmonary hypertension comprising pulmonary arterial hypertension through retailers, wholesalers, distributors, hospitals, and healthcare professionals for prescription use.