Range Financial Group LLC Purchases 11,167 Shares of Johnson & Johnson (NYSE:JNJ)

Range Financial Group LLC increased its position in Johnson & Johnson (NYSE:JNJ) by 509.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,357 shares of the company’s stock after purchasing an additional 11,167 shares during the quarter. Range Financial Group LLC’s holdings in Johnson & Johnson were worth $1,932,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of JNJ. Highline Wealth Partners LLC purchased a new stake in Johnson & Johnson during the third quarter worth $31,000. RPg Family Wealth Advisory LLC purchased a new stake in Johnson & Johnson during the third quarter worth $35,000. Mowery & Schoenfeld Wealth Management LLC lifted its holdings in Johnson & Johnson by 58.7% during the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 246 shares of the company’s stock worth $40,000 after buying an additional 91 shares during the period. Activest Wealth Management purchased a new stake in Johnson & Johnson during the third quarter worth $40,000. Finally, Morton Brown Family Wealth LLC lifted its holdings in Johnson & Johnson by 400.0% during the third quarter. Morton Brown Family Wealth LLC now owns 250 shares of the company’s stock worth $41,000 after buying an additional 200 shares during the period. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Insider Activity

In other Johnson & Johnson news, Director Mark A. Weinberger bought 1,000 shares of the company’s stock in a transaction dated Thursday, December 12th. The shares were purchased at an average cost of $147.22 per share, for a total transaction of $147,220.00. Following the transaction, the director now directly owns 1,000 shares of the company’s stock, valued at approximately $147,220. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.16% of the company’s stock.

Johnson & Johnson Stock Performance

JNJ traded up $2.53 during midday trading on Tuesday, hitting $146.19. 8,408,107 shares of the company were exchanged, compared to its average volume of 7,061,887. The company’s 50 day simple moving average is $151.03 and its 200 day simple moving average is $156.25. The firm has a market capitalization of $351.97 billion, a price-to-earnings ratio of 21.16, a price-to-earnings-growth ratio of 2.52 and a beta of 0.51. The company has a current ratio of 1.03, a quick ratio of 0.79 and a debt-to-equity ratio of 0.45. Johnson & Johnson has a 1-year low of $142.75 and a 1-year high of $168.85.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings results on Tuesday, October 15th. The company reported $2.42 earnings per share for the quarter, topping the consensus estimate of $2.21 by $0.21. The company had revenue of $22.47 billion for the quarter, compared to the consensus estimate of $22.17 billion. Johnson & Johnson had a return on equity of 35.45% and a net margin of 19.14%. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period last year, the firm earned $2.66 EPS. As a group, sell-side analysts predict that Johnson & Johnson will post 9.94 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th will be given a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a yield of 3.39%. The ex-dividend date is Tuesday, February 18th. Johnson & Johnson’s dividend payout ratio is currently 71.78%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Morgan Stanley increased their price objective on Johnson & Johnson from $169.00 to $175.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. Citigroup decreased their price objective on Johnson & Johnson from $185.00 to $175.00 and set a “buy” rating for the company in a report on Wednesday, December 11th. Wells Fargo & Company increased their price objective on Johnson & Johnson from $163.00 to $166.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. Wolfe Research assumed coverage on Johnson & Johnson in a report on Friday, November 15th. They set an “outperform” rating and a $190.00 price objective for the company. Finally, StockNews.com upgraded Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 14th. Seven research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $174.71.

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.