Pallas Capital Advisors LLC Increases Stock Position in Johnson & Johnson (NYSE:JNJ)

Pallas Capital Advisors LLC raised its holdings in Johnson & Johnson (NYSE:JNJ) by 4.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 76,826 shares of the company’s stock after purchasing an additional 3,401 shares during the period. Pallas Capital Advisors LLC’s holdings in Johnson & Johnson were worth $11,940,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. MBE Wealth Management LLC lifted its stake in shares of Johnson & Johnson by 13.4% during the second quarter. MBE Wealth Management LLC now owns 2,264 shares of the company’s stock valued at $331,000 after buying an additional 268 shares during the period. Ninety One UK Ltd lifted its stake in shares of Johnson & Johnson by 59.0% during the second quarter. Ninety One UK Ltd now owns 6,708,943 shares of the company’s stock valued at $980,579,000 after buying an additional 2,489,925 shares during the period. ZWJ Investment Counsel Inc. increased its position in Johnson & Johnson by 3.8% during the second quarter. ZWJ Investment Counsel Inc. now owns 208,822 shares of the company’s stock worth $30,521,000 after purchasing an additional 7,685 shares during the last quarter. First Horizon Advisors Inc. increased its position in Johnson & Johnson by 1.8% during the second quarter. First Horizon Advisors Inc. now owns 248,844 shares of the company’s stock worth $36,371,000 after purchasing an additional 4,312 shares during the last quarter. Finally, Continuum Advisory LLC increased its position in Johnson & Johnson by 1.8% during the second quarter. Continuum Advisory LLC now owns 8,396 shares of the company’s stock worth $1,227,000 after purchasing an additional 152 shares during the last quarter. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Stock Up 0.2 %

NYSE JNJ traded up $0.35 during trading hours on Wednesday, reaching $160.51. 523,645 shares of the company traded hands, compared to its average volume of 7,280,375. Johnson & Johnson has a 12 month low of $143.13 and a 12 month high of $167.84. The company has a current ratio of 1.07, a quick ratio of 0.85 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $386.30 billion, a PE ratio of 9.99, a PEG ratio of 2.63 and a beta of 0.52. The company has a 50 day moving average of $152.89 and a two-hundred day moving average of $153.09.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings data on Wednesday, July 17th. The company reported $2.82 EPS for the quarter, beating analysts’ consensus estimates of $2.71 by $0.11. Johnson & Johnson had a net margin of 46.34% and a return on equity of 36.60%. The firm had revenue of $22.45 billion for the quarter, compared to the consensus estimate of $22.33 billion. During the same period in the prior year, the firm posted $2.80 EPS. The firm’s revenue was up 4.3% compared to the same quarter last year. As a group, equities analysts expect that Johnson & Johnson will post 10.07 earnings per share for the current year.

Johnson & Johnson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 27th will be given a $1.24 dividend. The ex-dividend date of this dividend is Tuesday, August 27th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.09%. Johnson & Johnson’s payout ratio is currently 30.92%.

Analysts Set New Price Targets

JNJ has been the subject of several research analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $175.00 price target on shares of Johnson & Johnson in a research report on Tuesday, July 30th. The Goldman Sachs Group dropped their price target on shares of Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating for the company in a research report on Friday, July 19th. Cantor Fitzgerald reissued an “overweight” rating and issued a $215.00 price objective on shares of Johnson & Johnson in a research report on Monday, August 5th. Daiwa Capital Markets lowered shares of Johnson & Johnson from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $160.00 to $150.00 in a research report on Tuesday, July 23rd. Finally, StockNews.com raised shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 16th. Seven analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $173.21.

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.