Raymond James Financial Inc. Invests $1.34 Billion in Johnson & Johnson (NYSE:JNJ)

Raymond James Financial Inc. acquired a new stake in shares of Johnson & Johnson (NYSE:JNJ) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 9,264,823 shares of the company’s stock, valued at approximately $1,339,878,000. Johnson & Johnson makes up approximately 0.5% of Raymond James Financial Inc.’s investment portfolio, making the stock its 28th biggest holding.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. IFS Advisors LLC boosted its position in shares of Johnson & Johnson by 138.9% in the 4th quarter. IFS Advisors LLC now owns 172 shares of the company’s stock worth $25,000 after purchasing an additional 100 shares in the last quarter. Bay Harbor Wealth Management LLC acquired a new stake in Johnson & Johnson in the fourth quarter worth about $32,000. RPg Family Wealth Advisory LLC purchased a new stake in shares of Johnson & Johnson during the third quarter worth about $35,000. Activest Wealth Management acquired a new position in shares of Johnson & Johnson during the third quarter valued at about $40,000. Finally, NewSquare Capital LLC raised its position in shares of Johnson & Johnson by 145.8% in the 4th quarter. NewSquare Capital LLC now owns 290 shares of the company’s stock valued at $42,000 after purchasing an additional 172 shares during the last quarter. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Trading Down 1.1 %

Shares of Johnson & Johnson stock opened at $165.86 on Wednesday. Johnson & Johnson has a fifty-two week low of $140.68 and a fifty-two week high of $169.99. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.86 and a current ratio of 1.11. The company has a market cap of $399.33 billion, a P/E ratio of 24.94, a price-to-earnings-growth ratio of 2.56 and a beta of 0.47. The firm has a 50-day simple moving average of $153.86 and a two-hundred day simple moving average of $156.29.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings results on Wednesday, January 22nd. The company reported $2.04 earnings per share for the quarter, topping analysts’ consensus estimates of $1.99 by $0.05. Johnson & Johnson had a return on equity of 34.24% and a net margin of 18.20%. The company had revenue of $22.52 billion during the quarter, compared to analysts’ expectations of $22.44 billion. During the same quarter in the prior year, the firm posted $2.29 EPS. Johnson & Johnson’s quarterly revenue was up 5.3% compared to the same quarter last year. As a group, equities analysts predict that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th were issued a $1.24 dividend. This represents a $4.96 annualized dividend and a yield of 2.99%. The ex-dividend date of this dividend was Tuesday, February 18th. Johnson & Johnson’s payout ratio is presently 74.59%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on JNJ shares. Argus upgraded shares of Johnson & Johnson to a “strong-buy” rating in a research note on Friday, January 24th. Wolfe Research began coverage on Johnson & Johnson in a research report on Friday, November 15th. They issued an “outperform” rating and a $190.00 target price on the stock. Bank of America lifted their price target on Johnson & Johnson from $159.00 to $171.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 5th. Morgan Stanley cut their price objective on Johnson & Johnson from $175.00 to $163.00 and set an “equal weight” rating on the stock in a report on Thursday, January 23rd. Finally, Citigroup decreased their target price on Johnson & Johnson from $185.00 to $175.00 and set a “buy” rating for the company in a report on Wednesday, December 11th. Nine analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $171.33.

Insider Buying and Selling at Johnson & Johnson

In other Johnson & Johnson news, VP Robert J. Decker sold 6,999 shares of the stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $165.88, for a total transaction of $1,160,994.12. Following the completion of the transaction, the vice president now owns 21,001 shares of the company’s stock, valued at $3,483,645.88. This represents a 25.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Mark A. Weinberger bought 1,000 shares of the firm’s stock in a transaction dated Thursday, December 12th. The stock was purchased at an average price of $147.22 per share, for a total transaction of $147,220.00. Following the transaction, the director now owns 1,000 shares of the company’s stock, valued at approximately $147,220. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.16% of the company’s stock.

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.