Prestige Wealth Management Group LLC Reduces Holdings in Johnson & Johnson (NYSE:JNJ)

Prestige Wealth Management Group LLC lowered its stake in Johnson & Johnson (NYSE:JNJFree Report) by 0.6% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 28,048 shares of the company’s stock after selling 168 shares during the quarter. Johnson & Johnson makes up about 1.0% of Prestige Wealth Management Group LLC’s holdings, making the stock its 21st biggest position. Prestige Wealth Management Group LLC’s holdings in Johnson & Johnson were worth $4,396,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its holdings in shares of Johnson & Johnson by 1.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 15,945,533 shares of the company’s stock worth $2,483,532,000 after purchasing an additional 241,799 shares during the last quarter. California Public Employees Retirement System boosted its stake in Johnson & Johnson by 4.9% in the 4th quarter. California Public Employees Retirement System now owns 10,620,264 shares of the company’s stock worth $1,664,620,000 after buying an additional 498,647 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Johnson & Johnson by 10.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 10,169,190 shares of the company’s stock valued at $1,593,908,000 after buying an additional 975,485 shares during the period. Raymond James & Associates increased its stake in shares of Johnson & Johnson by 0.4% during the 4th quarter. Raymond James & Associates now owns 6,061,707 shares of the company’s stock valued at $950,112,000 after acquiring an additional 26,982 shares during the last quarter. Finally, Ninety One UK Ltd grew its holdings in Johnson & Johnson by 0.3% in the fourth quarter. Ninety One UK Ltd now owns 4,436,013 shares of the company’s stock valued at $695,301,000 after purchasing an additional 12,867 shares during the period. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Wall Street Analyst Weigh In

JNJ has been the topic of a number of research analyst reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $175.00 price target on shares of Johnson & Johnson in a report on Thursday, May 16th. Bank of America cut their price objective on Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating on the stock in a report on Wednesday, April 17th. Cantor Fitzgerald reiterated an “overweight” rating and set a $215.00 target price on shares of Johnson & Johnson in a report on Monday, May 6th. HSBC upgraded shares of 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. Finally, Morgan Stanley dropped their price objective on shares of Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 17th. Seven 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 company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $175.86.

Check Out Our Latest Stock Report on Johnson & Johnson

Johnson & Johnson Stock Performance

Shares of JNJ stock opened at $151.32 on Tuesday. The company’s fifty day moving average price is $152.11 and its two-hundred day moving average price is $155.12. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.17 and a quick ratio of 0.94. The firm has a market capitalization of $364.18 billion, a P/E ratio of 9.43, a P/E/G ratio of 2.55 and a beta of 0.55. Johnson & Johnson has a 12 month low of $143.13 and a 12 month high of $175.97.

Johnson & Johnson (NYSE:JNJGet Free Report) last issued its quarterly earnings results on Tuesday, April 16th. The company reported $2.71 EPS for the quarter, beating analysts’ consensus estimates of $2.64 by $0.07. Johnson & Johnson had a return on equity of 36.70% and a net margin of 45.26%. The firm had revenue of $21.38 billion during the quarter, compared to the consensus estimate of $21.39 billion. During the same quarter in the prior year, the business posted $2.68 earnings per share. Johnson & Johnson’s revenue for the quarter was up 2.3% on a year-over-year basis. On average, research analysts anticipate that Johnson & Johnson will post 10.64 earnings per share for the current fiscal year.

Johnson & Johnson Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 4th. Investors of record on Tuesday, May 21st will be issued a $1.24 dividend. The ex-dividend date is Monday, May 20th. This is a boost from Johnson & Johnson’s previous quarterly dividend of $1.19. This represents a $4.96 annualized dividend and a yield of 3.28%. Johnson & Johnson’s dividend payout ratio is currently 29.68%.

Johnson & Johnson Profile

(Free Report)

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.

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

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