Tide Cove Capital Partners LLC Purchases New Shares in Johnson & Johnson (NYSE:JNJ)

Tide Cove Capital Partners LLC acquired a new position in Johnson & Johnson (NYSE:JNJ) in the fourth quarter, Holdings Channel reports. The institutional investor acquired 16,927 shares of the company’s stock, valued at approximately $2,448,000. Johnson & Johnson makes up approximately 1.7% of Tide Cove Capital Partners LLC’s portfolio, making the stock its 14th largest position.

Several other hedge funds have also recently made changes to their positions in the business. Octavia Wealth Advisors LLC increased its stake in Johnson & Johnson by 3.3% during the fourth quarter. Octavia Wealth Advisors LLC now owns 13,885 shares of the company’s stock worth $2,008,000 after acquiring an additional 447 shares during the last quarter. Commons Capital LLC increased its position in shares of Johnson & Johnson by 4.8% during the 4th quarter. Commons Capital LLC now owns 2,037 shares of the company’s stock valued at $295,000 after purchasing an additional 93 shares during the last quarter. Fort Washington Investment Advisors Inc. OH raised its holdings in Johnson & Johnson by 4.1% during the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 1,702,574 shares of the company’s stock valued at $246,226,000 after buying an additional 67,629 shares during the period. LifePlan Financial LLC lifted its position in Johnson & Johnson by 238.4% in the fourth quarter. LifePlan Financial LLC now owns 4,227 shares of the company’s stock worth $611,000 after buying an additional 2,978 shares during the last quarter. Finally, Capricorn Fund Managers Ltd boosted its stake in Johnson & Johnson by 0.4% during the fourth quarter. Capricorn Fund Managers Ltd now owns 68,550 shares of the company’s stock worth $9,826,000 after buying an additional 292 shares during the period. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on JNJ. Morgan Stanley lowered their target price on shares of Johnson & Johnson from $175.00 to $163.00 and set an “equal weight” rating for the company in a report on Thursday. Cantor Fitzgerald restated an “overweight” rating and set a $215.00 target price on shares of Johnson & Johnson in a research report on Wednesday, October 16th. Guggenheim increased their price target on Johnson & Johnson from $156.00 to $162.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. Bank of America dropped their price objective on Johnson & Johnson from $160.00 to $159.00 and set a “neutral” rating for the company in a report on Thursday. Finally, Barclays reduced their target price on Johnson & Johnson from $160.00 to $159.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Nine equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Johnson & Johnson presently has an average rating of “Moderate Buy” and a consensus target price of $170.06.

Insiders Place Their Bets

In other Johnson & Johnson news, Director Mark A. Weinberger bought 1,000 shares of Johnson & Johnson stock in a transaction that occurred on Thursday, December 12th. The stock was purchased at an average price of $147.22 per share, with a total value of $147,220.00. Following the completion of the acquisition, the director now directly owns 1,000 shares in the company, valued at approximately $147,220. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.16% of the stock is currently owned by insiders.

Johnson & Johnson Trading Up 0.1 %

Shares of NYSE:JNJ opened at $146.76 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.03 and a quick ratio of 0.79. The firm has a market capitalization of $353.34 billion, a P/E ratio of 22.07, a P/E/G ratio of 2.45 and a beta of 0.51. The business’s 50-day moving average is $147.99 and its 200 day moving average is $155.98. Johnson & Johnson has a 1 year low of $140.68 and a 1 year high of $168.85.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings data on Wednesday, January 22nd. The company reported $2.04 earnings per share for the quarter, beating analysts’ consensus estimates of $1.99 by $0.05. Johnson & Johnson had a net margin of 18.20% and a return on equity of 34.35%. The firm had revenue of $22.52 billion for the quarter, compared to analyst estimates of $22,438,500 billion. During the same period in the previous year, the company earned $2.29 earnings per share. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. On average, research analysts predict that Johnson & Johnson will post 10.56 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. Investors of record on Tuesday, February 18th will be given a $1.24 dividend. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $4.96 dividend on an annualized basis and a yield of 3.38%. Johnson & Johnson’s dividend payout ratio is currently 74.59%.

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.