Provence Wealth Management Group Acquires 113 Shares of Johnson & Johnson (NYSE:JNJ)

Provence Wealth Management Group boosted its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 1.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,007 shares of the company’s stock after acquiring an additional 113 shares during the period. Provence Wealth Management Group’s holdings in Johnson & Johnson were worth $942,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Sapient Capital LLC bought a new position in Johnson & Johnson during the fourth quarter worth about $8,915,000. W Advisors LLC lifted its holdings in Johnson & Johnson by 3.2% during the fourth quarter. W Advisors LLC now owns 8,943 shares of the company’s stock worth $1,402,000 after acquiring an additional 279 shares in the last quarter. Axxcess Wealth Management LLC lifted its holdings in shares of Johnson & Johnson by 38.6% in the fourth quarter. Axxcess Wealth Management LLC now owns 92,133 shares of the company’s stock valued at $14,425,000 after purchasing an additional 25,652 shares in the last quarter. U.S. Capital Wealth Advisors LLC boosted its position in shares of Johnson & Johnson by 0.7% during the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 136,864 shares of the company’s stock worth $21,452,000 after buying an additional 1,001 shares during the period. Finally, Malaga Cove Capital LLC acquired a new stake in Johnson & Johnson in the 4th quarter valued at approximately $252,000. 69.55% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $215.00 price target on shares of Johnson & Johnson in a research report on Monday. Morgan Stanley lowered their price target on Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 17th. Royal Bank of Canada cut their price objective on Johnson & Johnson from $181.00 to $175.00 and set an “outperform” rating for the company in a research report on Wednesday, April 17th. Bank of America decreased their target price on Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating on the stock in a report on Wednesday, April 17th. Finally, HSBC raised Johnson & Johnson from a “hold” rating to a “buy” rating and raised their price target for the company from $169.00 to $170.00 in a report on Thursday, April 18th. Seven investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $175.86.

Insider Activity

In related news, EVP Jennifer L. Taubert sold 59,397 shares of the company’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $156.27, for a total transaction of $9,281,969.19. Following the completion of the sale, the executive vice president now owns 141,416 shares of the company’s stock, valued at $22,099,078.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, major shareholder & Johnson Johnson sold 3,725 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $25.81, for a total transaction of $96,142.25. Following the completion of the sale, the insider now owns 4,099,575 shares of the company’s stock, valued at $105,810,030.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jennifer L. Taubert sold 59,397 shares of the stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $156.27, for a total transaction of $9,281,969.19. Following the completion of the transaction, the executive vice president now directly owns 141,416 shares of the company’s stock, valued at approximately $22,099,078.32. The disclosure for this sale can be found here. 0.16% of the stock is currently owned by company insiders.

Johnson & Johnson Price Performance

NYSE:JNJ opened at $148.95 on Thursday. Johnson & Johnson has a one year low of $143.13 and a one year high of $175.97. The company has a market cap of $358.47 billion, a P/E ratio of 9.29, a P/E/G ratio of 2.46 and a beta of 0.55. The firm’s fifty day moving average price is $153.70 and its two-hundred day moving average price is $154.97. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.17 and a quick ratio of 0.94.

Johnson & Johnson (NYSE:JNJ) last announced its earnings results on Tuesday, April 16th. The company reported $2.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.64 by $0.07. The company had revenue of $21.38 billion during the quarter, compared to analysts’ expectations of $21.39 billion. Johnson & Johnson had a net margin of 45.26% and a return on equity of 36.70%. Johnson & Johnson’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.68 earnings per share. Equities analysts expect that Johnson & Johnson will post 10.65 earnings per share for the current year.

Johnson & Johnson Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 21st will be given a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.33%. The ex-dividend date of this dividend is Monday, May 20th. This is a boost from Johnson & Johnson’s previous quarterly dividend of $1.19. Johnson & Johnson’s payout ratio is presently 30.92%.

Johnson & Johnson Company Profile

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.