Westshore Wealth LLC Makes New Investment in Johnson & Johnson (NYSE:JNJ)

Westshore Wealth LLC bought a new position in Johnson & Johnson (NYSE:JNJ) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 6,350 shares of the company’s stock, valued at approximately $926,000. Johnson & Johnson accounts for approximately 1.0% of Westshore Wealth LLC’s holdings, making the stock its 13th biggest position.

Several other hedge funds also recently bought and sold shares of JNJ. Ilmarinen Mutual Pension Insurance Co bought a new position in Johnson & Johnson during the 3rd quarter worth $31,646,000. UMA Financial Services Inc. bought a new position in shares of Johnson & Johnson in the third quarter worth $431,000. Voya Financial Advisors Inc. grew its position in Johnson & Johnson by 0.5% in the third quarter. Voya Financial Advisors Inc. now owns 78,872 shares of the company’s stock valued at $10,143,000 after acquiring an additional 387 shares during the last quarter. Endurant Capital Management LP bought a new position in Johnson & Johnson in the third quarter valued at about $13,897,000. Finally, Merit Financial Group LLC grew its position in Johnson & Johnson by 5.2% in the third quarter. Merit Financial Group LLC now owns 8,633 shares of the company’s stock valued at $1,117,000 after acquiring an additional 427 shares during the last quarter. Institutional investors and hedge funds own 69.30% of the company’s stock.

In related news, COO Michael E. Sneed sold 58,128 shares of the company’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $149.39, for a total transaction of $8,683,741.92. Following the completion of the sale, the chief operating officer now owns 107,511 shares in the company, valued at $16,061,068.29. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director William D. Perez purchased 500 shares of the firm’s stock in a transaction that occurred on Friday, March 13th. The shares were bought at an average price of $127.69 per share, with a total value of $63,845.00. Following the acquisition, the director now directly owns 16,030 shares of the company’s stock, valued at approximately $2,046,870.70. The disclosure for this purchase can be found here. Corporate insiders own 0.27% of the company’s stock.

Shares of NYSE JNJ traded down $1.19 during midday trading on Tuesday, hitting $131.83. 10,579,989 shares of the stock traded hands, compared to its average volume of 15,921,701. The company has a market cap of $324.69 billion, a PE ratio of 19.44, a P/E/G ratio of 2.05 and a beta of 0.74. Johnson & Johnson has a one year low of $109.16 and a one year high of $154.50. The business has a 50 day moving average price of $138.31 and a two-hundred day moving average price of $138.24. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.01 and a current ratio of 1.26.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings data on Wednesday, January 22nd. The company reported $1.88 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.87 by $0.01. The firm had revenue of $20.75 billion during the quarter, compared to the consensus estimate of $20.83 billion. Johnson & Johnson had a return on equity of 39.27% and a net margin of 22.18%. The company’s quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.97 earnings per share. As a group, equities research analysts forecast that Johnson & Johnson will post 9.03 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Tuesday, February 25th were issued a dividend of $0.95 per share. The ex-dividend date was Monday, February 24th. This represents a $3.80 annualized dividend and a yield of 2.88%. Johnson & Johnson’s dividend payout ratio (DPR) is currently 43.78%.

A number of research analysts have issued reports on the company. Cantor Fitzgerald reiterated a “buy” rating and issued a $168.00 target price on shares of Johnson & Johnson in a research report on Thursday, January 23rd. Barclays upgraded Johnson & Johnson from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $140.00 to $173.00 in a research report on Thursday, December 19th. Argus reiterated a “buy” rating and issued a $155.00 target price (down previously from $165.00) on shares of Johnson & Johnson in a research report on Friday. Wells Fargo & Co lifted their price target on Johnson & Johnson from $155.00 to $165.00 and gave the company an “overweight” rating in a research note on Thursday, January 9th. Finally, Citigroup cut their price objective on Johnson & Johnson from $163.00 to $150.00 and set a “buy” rating on the stock in a research note on Friday. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Johnson & Johnson has an average rating of “Buy” and a consensus price target of $160.00.

About Johnson & Johnson

Johnson & Johnson, together with its subsidiaries, researches and develops, manufactures, and sells various products in the health care field worldwide. It operates in three segments: Consumer, Pharmaceutical, and Medical Devices. The Consumer segment offers baby care products under the JOHNSON'S brand; oral care products under the LISTERINE brand; beauty products under the AVEENO, CLEAN & CLEAR, DABAO, JOHNSON'S Adult, LE PETITE MARSEILLAIS, NEUTROGENA, and OGX brands; over-the-counter medicines, including acetaminophen products under the TYLENOL brand; cold, flu, and allergy products under the SUDAFED brand; allergy products under the BENADRYL and ZYRTEC brands; ibuprofen products under the MOTRIN IB brand; and acid reflux products under the PEPCID brand.

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Institutional Ownership by Quarter for Johnson & Johnson (NYSE:JNJ)

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