Johnson & Johnson (NYSE:JNJ) Stock Holdings Increased by Providence Wealth Advisors LLC

Providence Wealth Advisors LLC lifted its stake in Johnson & Johnson (NYSE:JNJGet Rating) by 9.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,088 shares of the company’s stock after purchasing an additional 808 shares during the quarter. Providence Wealth Advisors LLC’s holdings in Johnson & Johnson were worth $1,616,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in the stock. Taylor & Morgan Wealth Management LLC raised its holdings in Johnson & Johnson by 1.6% during the 2nd quarter. Taylor & Morgan Wealth Management LLC now owns 3,580 shares of the company’s stock worth $635,000 after purchasing an additional 57 shares during the last quarter. Circle Wealth Management LLC raised its holdings in Johnson & Johnson by 0.5% during the 1st quarter. Circle Wealth Management LLC now owns 11,326 shares of the company’s stock worth $2,007,000 after purchasing an additional 59 shares during the last quarter. Red Wave Investments LLC raised its holdings in Johnson & Johnson by 2.0% during the 2nd quarter. Red Wave Investments LLC now owns 2,986 shares of the company’s stock worth $530,000 after purchasing an additional 59 shares during the last quarter. Argus Investors Counsel Inc. raised its holdings in Johnson & Johnson by 0.6% during the 2nd quarter. Argus Investors Counsel Inc. now owns 10,936 shares of the company’s stock worth $1,941,000 after purchasing an additional 61 shares during the last quarter. Finally, Alta Capital Management LLC raised its holdings in Johnson & Johnson by 0.4% during the 2nd quarter. Alta Capital Management LLC now owns 15,824 shares of the company’s stock worth $2,808,000 after purchasing an additional 61 shares during the last quarter. 68.59% of the stock is owned by hedge funds and other institutional investors.

Johnson & Johnson Stock Performance

NYSE:JNJ opened at $176.20 on Friday. The stock’s 50-day simple moving average is $167.84 and its 200 day simple moving average is $171.35. The firm has a market capitalization of $460.67 billion, a PE ratio of 24.54, a price-to-earnings-growth ratio of 3.47 and a beta of 0.57. The company has a quick ratio of 1.18, a current ratio of 1.43 and a debt-to-equity ratio of 0.37. Johnson & Johnson has a twelve month low of $155.72 and a twelve month high of $186.69.

Johnson & Johnson (NYSE:JNJGet Rating) last released its quarterly earnings data on Tuesday, October 18th. The company reported $2.55 earnings per share for the quarter, beating the consensus estimate of $2.49 by $0.06. Johnson & Johnson had a return on equity of 35.37% and a net margin of 19.95%. The business had revenue of $23.79 billion for the quarter, compared to analyst estimates of $23.44 billion. During the same period last year, the firm posted $2.60 earnings per share. Johnson & Johnson’s revenue was up 1.9% compared to the same quarter last year. On average, analysts anticipate that Johnson & Johnson will post 10.04 EPS for the current fiscal year.

Johnson & Johnson declared that its board has authorized a stock buyback program on Wednesday, September 14th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 1.2% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Johnson & Johnson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 6th. Investors of record on Tuesday, November 22nd will be paid a $1.13 dividend. This represents a $4.52 dividend on an annualized basis and a dividend yield of 2.57%. The ex-dividend date is Monday, November 21st. Johnson & Johnson’s dividend payout ratio is currently 62.95%.

Insider Buying and Selling

In other news, VP Peter Fasolo sold 22,864 shares of the business’s stock in a transaction that occurred on Wednesday, October 19th. The stock was sold at an average price of $164.50, for a total transaction of $3,761,128.00. Following the completion of the sale, the vice president now owns 114,676 shares in the company, valued at $18,864,202. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, VP Peter Fasolo sold 22,864 shares of Johnson & Johnson stock in a transaction that occurred on Wednesday, October 19th. The stock was sold at an average price of $164.50, for a total transaction of $3,761,128.00. Following the transaction, the vice president now owns 114,676 shares of the company’s stock, valued at $18,864,202. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Kathryn E. Wengel sold 16,410 shares of Johnson & Johnson stock in a transaction that occurred on Wednesday, November 9th. The shares were sold at an average price of $173.42, for a total value of $2,845,822.20. Following the transaction, the executive vice president now directly owns 71,311 shares in the company, valued at approximately $12,366,753.62. The disclosure for this sale can be found here. Insiders have sold a total of 118,795 shares of company stock valued at $20,230,174 over the last ninety days. 0.35% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Sanford C. Bernstein dropped their price objective on Johnson & Johnson from $194.00 to $190.00 in a report on Wednesday, October 19th. StockNews.com started coverage on Johnson & Johnson in a research note on Wednesday, October 12th. They issued a “strong-buy” rating for the company. Credit Suisse Group started coverage on Johnson & Johnson in a research report on Thursday. They set a “neutral” rating and a $170.00 price target for the company. Barclays initiated coverage on Johnson & Johnson in a research report on Monday, October 17th. They set an “equal weight” rating and a $175.00 price target for the company. Finally, Citigroup dropped their price target on Johnson & Johnson from $201.00 to $198.00 in a research note on Wednesday, October 5th. Seven research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $181.33.

About Johnson & Johnson

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Johnson & Johnson, together with its subsidiaries, researches and develops, manufactures, and sells various products in the healthcare field worldwide. The company's Consumer Health segment offers baby care products under the JOHNSON'S and AVEENO Baby brands; oral care products under the LISTERINE brand; skin health/beauty products under the AVEENO, CLEAN & CLEAR, DR.

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Institutional Ownership by Quarter for Johnson & Johnson (NYSE:JNJ)

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