42,560 Shares in Johnson & Johnson (NYSE:JNJ) Bought by Meridian Wealth Management LLC

Meridian Wealth Management LLC bought a new stake in Johnson & Johnson (NYSE:JNJ) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 42,560 shares of the company’s stock, valued at approximately $6,897,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Summit Wealth Partners LLC grew its stake in shares of Johnson & Johnson by 0.6% during the second quarter. Summit Wealth Partners LLC now owns 10,007 shares of the company’s stock valued at $1,463,000 after buying an additional 61 shares during the last quarter. Powers Advisory Group LLC grew its stake in shares of Johnson & Johnson by 0.6% in the third quarter. Powers Advisory Group LLC now owns 9,489 shares of the company’s stock worth $1,538,000 after purchasing an additional 61 shares during the last quarter. Citizens & Northern Corp grew its stake in shares of Johnson & Johnson by 3.5% in the second quarter. Citizens & Northern Corp now owns 1,884 shares of the company’s stock worth $275,000 after purchasing an additional 63 shares during the last quarter. Eagle Wealth Strategies LLC grew its stake in shares of Johnson & Johnson by 2.8% in the third quarter. Eagle Wealth Strategies LLC now owns 2,294 shares of the company’s stock worth $372,000 after purchasing an additional 63 shares during the last quarter. Finally, Epic Trust Investment Advisors LLC lifted its holdings in Johnson & Johnson by 3.6% in the second quarter. Epic Trust Investment Advisors LLC now owns 1,831 shares of the company’s stock worth $268,000 after buying an additional 64 shares during the period. 69.55% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on JNJ shares. Royal Bank of Canada lifted their target price on shares of Johnson & Johnson from $178.00 to $181.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Guggenheim boosted their price objective on shares of Johnson & Johnson from $156.00 to $162.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. Wolfe Research started coverage on shares of Johnson & Johnson in a report on Friday, November 15th. They issued an “outperform” rating and a $190.00 price objective for the company. StockNews.com raised shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 14th. Finally, Wells Fargo & Company boosted their price objective on shares of Johnson & Johnson from $163.00 to $166.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. Seven analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $175.94.

Insider Activity at Johnson & Johnson

In related news, VP Robert J. Decker sold 5,635 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $165.06, for a total transaction of $930,113.10. Following the completion of the transaction, the vice president now directly owns 18,973 shares in the company, valued at $3,131,683.38. The trade was a 22.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.16% of the stock is currently owned by insiders.

Johnson & Johnson Trading Up 1.8 %

NYSE:JNJ opened at $155.79 on Friday. Johnson & Johnson has a 12 month low of $143.13 and a 12 month high of $168.85. The firm has a fifty day simple moving average of $160.41 and a 200-day simple moving average of $156.17. The company has a current ratio of 1.03, a quick ratio of 0.79 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $375.08 billion, a P/E ratio of 22.55, a PEG ratio of 2.72 and a beta of 0.53.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings data on Tuesday, October 15th. The company reported $2.42 EPS for the quarter, topping the consensus estimate of $2.21 by $0.21. Johnson & Johnson had a net margin of 19.14% and a return on equity of 35.45%. The business had revenue of $22.47 billion during the quarter, compared to the consensus estimate of $22.17 billion. During the same period in the previous year, the firm posted $2.66 earnings per share. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. On average, equities research analysts anticipate that Johnson & Johnson will post 9.93 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 26th will be given a dividend of $1.24 per share. The ex-dividend date is Tuesday, November 26th. This represents a $4.96 dividend on an annualized basis and a yield of 3.18%. Johnson & Johnson’s dividend payout ratio is presently 71.78%.

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.