Providence Wealth Advisors LLC Boosts Stock Position in Johnson & Johnson (NYSE:JNJ)

Providence Wealth Advisors LLC increased its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 3.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,440 shares of the company’s stock after buying an additional 293 shares during the period. Johnson & Johnson comprises approximately 1.1% of Providence Wealth Advisors LLC’s investment portfolio, making the stock its 29th largest holding. Providence Wealth Advisors LLC’s holdings in Johnson & Johnson were worth $1,390,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Meridian Financial Partners LLC purchased a new stake in shares of Johnson & Johnson during the second quarter worth about $1,626,000. Summit Financial Wealth Advisors LLC raised its holdings in shares of Johnson & Johnson by 26.3% during the first quarter. Summit Financial Wealth Advisors LLC now owns 5,392 shares of the company’s stock valued at $853,000 after acquiring an additional 1,122 shares during the last quarter. Gilbert & Cook Inc. lifted its position in shares of Johnson & Johnson by 3.3% in the fourth quarter. Gilbert & Cook Inc. now owns 9,111 shares of the company’s stock valued at $1,428,000 after acquiring an additional 288 shares in the last quarter. Franklin Parlapiano Turner & Welch LLC boosted its stake in shares of Johnson & Johnson by 0.7% in the first quarter. Franklin Parlapiano Turner & Welch LLC now owns 47,186 shares of the company’s stock worth $7,464,000 after acquiring an additional 325 shares during the last quarter. Finally, Capital Asset Advisory Services LLC increased its position in shares of Johnson & Johnson by 8.8% during the first quarter. Capital Asset Advisory Services LLC now owns 26,539 shares of the company’s stock worth $4,044,000 after purchasing an additional 2,151 shares in the last quarter. Institutional investors and hedge funds own 69.55% of the company’s stock.

Johnson & Johnson Stock Performance

NYSE JNJ opened at $165.52 on Monday. The stock has a market cap of $398.45 billion, a PE ratio of 10.32, a P/E/G ratio of 2.71 and a beta of 0.53. Johnson & Johnson has a twelve month low of $143.13 and a twelve month high of $168.85. The stock has a fifty day simple moving average of $159.55 and a 200-day simple moving average of $153.94. The company has a current ratio of 1.07, a quick ratio of 0.85 and a debt-to-equity ratio of 0.44.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings results on Wednesday, July 17th. The company reported $2.82 earnings per share 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 business had revenue of $22.45 billion during the quarter, compared to analysts’ expectations of $22.33 billion. During the same period last year, the business earned $2.80 earnings per share. The business’s revenue for the quarter was up 4.3% on a year-over-year basis. Equities analysts anticipate that Johnson & Johnson will post 10.02 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 27th were paid a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date was Tuesday, August 27th. Johnson & Johnson’s dividend payout ratio (DPR) is 30.92%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on JNJ shares. StockNews.com upgraded Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Saturday. Royal Bank of Canada reissued an “outperform” rating and issued a $175.00 price target on shares of Johnson & Johnson in a research note on Tuesday, July 30th. Morgan Stanley upped their price objective on shares of Johnson & Johnson from $167.00 to $169.00 and gave the company an “equal weight” rating in a research note on Thursday, July 18th. Sanford C. Bernstein raised their target price on shares of Johnson & Johnson from $161.00 to $171.00 in a research note on Thursday, July 18th. Finally, Daiwa Capital Markets lowered Johnson & Johnson from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $160.00 to $150.00 in a research report on Tuesday, July 23rd. Seven equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $173.21.

Insider Transactions at Johnson & Johnson

In related news, VP Robert J. Decker sold 5,635 shares of the business’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $165.06, for a total value of $930,113.10. Following the sale, the vice president now owns 18,973 shares in the company, valued at approximately $3,131,683.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.16% of the company’s stock.

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.