Strait & Sound Wealth Management LLC Purchases 499 Shares of Johnson & Johnson (NYSE:JNJ)

Strait & Sound Wealth Management LLC raised its position in shares of Johnson & Johnson (NYSE:JNJ) by 5.0% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 10,426 shares of the company’s stock after purchasing an additional 499 shares during the quarter. Johnson & Johnson accounts for about 0.8% of Strait & Sound Wealth Management LLC’s investment portfolio, making the stock its 22nd biggest holding. Strait & Sound Wealth Management LLC’s holdings in Johnson & Johnson were worth $1,690,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Innealta Capital LLC bought a new position in shares of Johnson & Johnson during the second quarter valued at $27,000. Highline Wealth Partners LLC bought a new position in Johnson & Johnson during the 3rd quarter valued at about $31,000. RPg Family Wealth Advisory LLC purchased a new stake in shares of Johnson & Johnson during the 3rd quarter valued at about $35,000. Mowery & Schoenfeld Wealth Management LLC grew its stake in shares of Johnson & Johnson by 58.7% in the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 246 shares of the company’s stock worth $40,000 after acquiring an additional 91 shares during the period. Finally, Activest Wealth Management bought a new position in Johnson & Johnson during the third quarter valued at approximately $40,000. 69.55% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Cantor Fitzgerald reiterated an “overweight” rating and set a $215.00 target price on shares of Johnson & Johnson in a research note on Wednesday, October 16th. Wells Fargo & Company upped their price objective on Johnson & Johnson from $163.00 to $166.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. Bank of America restated a “neutral” rating and set a $166.00 price target on shares of Johnson & Johnson in a research note on Tuesday. StockNews.com upgraded shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 14th. Finally, Morgan Stanley upped their target price on shares of Johnson & Johnson from $169.00 to $175.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. Seven investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $175.40.

Johnson & Johnson Price Performance

JNJ stock opened at $149.61 on Tuesday. The company has a market capitalization of $360.20 billion, a PE ratio of 21.65, a price-to-earnings-growth ratio of 2.65 and a beta of 0.51. The company’s fifty day moving average price is $157.84 and its 200-day moving average price is $156.40. Johnson & Johnson has a one year low of $143.13 and a one year high of $168.85. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.79 and a current ratio of 1.03.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings data on Tuesday, October 15th. The company reported $2.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.21 by $0.21. Johnson & Johnson had a return on equity of 35.45% and a net margin of 19.14%. The business had revenue of $22.47 billion for the quarter, compared to analysts’ expectations of $22.17 billion. During the same period in the prior year, the firm earned $2.66 EPS. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. On average, equities analysts anticipate that Johnson & Johnson will post 9.93 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 10th. Shareholders of record on Tuesday, November 26th will be paid a dividend of $1.24 per share. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $4.96 annualized dividend and a yield of 3.32%. Johnson & Johnson’s payout ratio is currently 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.