Innova Wealth Partners Has $458,000 Holdings in Johnson & Johnson $JNJ

Innova Wealth Partners raised its stake in Johnson & Johnson (NYSE:JNJ) by 4.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,000 shares of the company’s stock after purchasing an additional 126 shares during the period. Innova Wealth Partners’ holdings in Johnson & Johnson were worth $458,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of JNJ. Brighton Jones LLC boosted its holdings in Johnson & Johnson by 13.9% in the 4th quarter. Brighton Jones LLC now owns 51,876 shares of the company’s stock valued at $7,502,000 after purchasing an additional 6,332 shares during the period. Wealth Group Ltd. bought a new stake in Johnson & Johnson in the 1st quarter valued at $218,000. GAMMA Investing LLC boosted its holdings in Johnson & Johnson by 48.0% in the 1st quarter. GAMMA Investing LLC now owns 43,508 shares of the company’s stock valued at $7,215,000 after purchasing an additional 14,118 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in Johnson & Johnson by 6.7% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 1,698,831 shares of the company’s stock valued at $281,734,000 after purchasing an additional 107,009 shares during the period. Finally, Optivise Advisory Services LLC boosted its holdings in Johnson & Johnson by 8.1% in the 1st quarter. Optivise Advisory Services LLC now owns 2,265 shares of the company’s stock valued at $376,000 after purchasing an additional 169 shares during the period. 69.55% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on JNJ shares. Erste Group Bank upgraded shares of Johnson & Johnson from a “hold” rating to a “buy” rating in a research note on Wednesday, July 23rd. HSBC increased their price objective on shares of Johnson & Johnson from $188.00 to $210.00 in a research note on Tuesday, September 30th. Piper Sandler restated an “overweight” rating on shares of Johnson & Johnson in a research note on Thursday, July 17th. UBS Group increased their price objective on shares of Johnson & Johnson from $190.00 to $214.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, Stifel Nicolaus increased their target price on shares of Johnson & Johnson from $165.00 to $190.00 and gave the stock a “hold” rating in a research report on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Johnson & Johnson currently has a consensus rating of “Moderate Buy” and a consensus target price of $199.59.

Johnson & Johnson Stock Up 0.3%

Shares of NYSE:JNJ opened at $191.79 on Friday. Johnson & Johnson has a 12 month low of $140.68 and a 12 month high of $194.40. The company’s 50-day moving average price is $180.09 and its two-hundred day moving average price is $164.52. The company has a quick ratio of 0.76, a current ratio of 1.01 and a debt-to-equity ratio of 0.50. The firm has a market cap of $461.90 billion, a P/E ratio of 18.51, a P/E/G ratio of 2.40 and a beta of 0.40.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings data on Wednesday, August 30th. The company reported $2.26 EPS for the quarter. Johnson & Johnson had a net margin of 27.26% and a return on equity of 33.08%. The firm had revenue of $24.02 billion for the quarter. As a group, research analysts forecast that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 9th. Shareholders of record on Tuesday, November 25th will be issued a dividend of $1.30 per share. The ex-dividend date of this dividend is Tuesday, November 25th. This represents a $5.20 dividend on an annualized basis and a yield of 2.7%. Johnson & Johnson’s dividend payout ratio is currently 55.61%.

Insider Buying and Selling

In other Johnson & Johnson news, EVP Jennifer L. Taubert sold 56,471 shares of the stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $177.81, for a total transaction of $10,041,108.51. Following the sale, the executive vice president owned 178,013 shares of the company’s stock, valued at $31,652,491.53. This represents a 24.08% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.16% of the stock is currently owned by corporate insiders.

Johnson & Johnson 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.