Drive Wealth Management LLC Boosts Stake in Johnson & Johnson (NYSE:JNJ)

Drive Wealth Management LLC grew its stake in shares of Johnson & Johnson (NYSE:JNJ) by 4.5% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 9,625 shares of the company’s stock after acquiring an additional 414 shares during the period. Drive Wealth Management LLC’s holdings in Johnson & Johnson were worth $1,523,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Tower View Wealth Management LLC boosted its holdings in Johnson & Johnson by 183.3% in the 3rd quarter. Tower View Wealth Management LLC now owns 255 shares of the company’s stock worth $40,000 after buying an additional 165 shares during the period. Keener Financial Planning LLC bought a new position in Johnson & Johnson in the 4th quarter worth approximately $40,000. WFA Asset Management Corp boosted its holdings in Johnson & Johnson by 61.4% in the 4th quarter. WFA Asset Management Corp now owns 255 shares of the company’s stock worth $40,000 after buying an additional 97 shares during the period. Vermillion & White Wealth Management Group LLC bought a new position in Johnson & Johnson in the 4th quarter valued at $44,000. Finally, Creative Capital Management Investments LLC boosted its holdings in Johnson & Johnson by 43.0% in the 3rd quarter. Creative Capital Management Investments LLC now owns 286 shares of the company’s stock valued at $45,000 after purchasing an additional 86 shares during the period. 69.55% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Johnson & Johnson news, major shareholder & Johnson Johnson sold 3,725 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $25.81, for a total value of $96,142.25. Following the sale, the insider now owns 4,099,575 shares in the company, valued at $105,810,030.75. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, major shareholder & Johnson Johnson sold 3,725 shares of the stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $25.81, for a total transaction of $96,142.25. Following the sale, the insider now owns 4,099,575 shares in the company, valued at $105,810,030.75. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Jennifer L. Taubert sold 59,397 shares of the stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $156.27, for a total transaction of $9,281,969.19. Following the sale, the executive vice president now owns 141,416 shares in the company, valued at approximately $22,099,078.32. The disclosure for this sale can be found here. Corporate insiders own 0.16% of the company’s stock.

Johnson & Johnson Trading Down 0.5 %

Shares of JNJ traded down $0.68 during trading hours on Friday, reaching $146.14. 6,182,982 shares of the company traded hands, compared to its average volume of 7,728,638. The company’s fifty day moving average price is $155.26 and its two-hundred day moving average price is $155.29. The company has a market capitalization of $352.17 billion, a price-to-earnings ratio of 9.11, a price-to-earnings-growth ratio of 2.41 and a beta of 0.53. The company has a quick ratio of 0.91, a current ratio of 1.16 and a debt-to-equity ratio of 0.38. Johnson & Johnson has a 12 month low of $143.13 and a 12 month high of $175.97.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings data on Tuesday, April 16th. The company reported $2.71 earnings per share for the quarter, topping analysts’ consensus estimates of $2.64 by $0.07. The business had revenue of $21.38 billion for the quarter, compared to analysts’ expectations of $21.39 billion. Johnson & Johnson had a net margin of 45.26% and a return on equity of 36.43%. The business’s revenue was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.68 earnings per share. Equities research analysts predict that Johnson & Johnson will post 10.65 earnings per share for the current fiscal year.

Johnson & Johnson Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Shareholders of record on Tuesday, May 21st will be issued a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a yield of 3.39%. The ex-dividend date of this dividend is Monday, May 20th. This is a boost from Johnson & Johnson’s previous quarterly dividend of $1.19. Johnson & Johnson’s dividend payout ratio is 30.92%.

Analyst Ratings Changes

JNJ has been the subject of several analyst reports. Cantor Fitzgerald reissued an “overweight” rating and issued a $215.00 price target on shares of Johnson & Johnson in a report on Monday, April 15th. Bank of America cut their price target on shares of Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating for the company in a report on Wednesday, April 17th. StockNews.com raised shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Tuesday, February 6th. Royal Bank of Canada lowered their price objective on shares of Johnson & Johnson from $181.00 to $175.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 17th. Finally, Raymond James raised their price objective on shares of Johnson & Johnson from $172.00 to $175.00 and gave the company an “outperform” rating in a research report on Wednesday, January 3rd. Seven research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $175.86.

Johnson & Johnson Company Profile

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.