Providence Capital Advisors LLC Grows Holdings in Johnson & Johnson (NYSE:JNJ)

Providence Capital Advisors LLC increased its position in shares of Johnson & Johnson (NYSE:JNJ) by 12.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 40,909 shares of the company’s stock after purchasing an additional 4,500 shares during the quarter. Johnson & Johnson makes up about 1.3% of Providence Capital Advisors LLC’s holdings, making the stock its 26th biggest position. Providence Capital Advisors LLC’s holdings in Johnson & Johnson were worth $5,979,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Innealta Capital LLC purchased a new position in Johnson & Johnson in the second quarter valued at about $27,000. MFA Wealth Advisors LLC purchased a new position in Johnson & Johnson in the second quarter valued at about $43,000. Vermillion & White Wealth Management Group LLC purchased a new position in Johnson & Johnson in the fourth quarter valued at about $44,000. Fairfield Financial Advisors LTD purchased a new position in Johnson & Johnson in the second quarter valued at about $46,000. Finally, Grayhawk Investment Strategies Inc. boosted its stake in Johnson & Johnson by 528.6% in the fourth quarter. Grayhawk Investment Strategies Inc. now owns 308 shares of the company’s stock valued at $48,000 after acquiring an additional 259 shares during the last quarter. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Johnson & Johnson Price Performance

Shares of NYSE:JNJ opened at $163.21 on Tuesday. The company’s fifty day moving average price is $161.58 and its 200-day moving average price is $154.15. The firm has a market capitalization of $392.79 billion, a price-to-earnings ratio of 10.18, a PEG ratio of 2.71 and a beta of 0.53. Johnson & Johnson has a one year low of $143.13 and a one year high of $168.85. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.07 and a quick ratio of 0.85.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings results on Wednesday, July 17th. The company reported $2.82 EPS for the quarter, topping analysts’ consensus estimates of $2.71 by $0.11. The firm had revenue of $22.45 billion for the quarter, compared to analyst estimates of $22.33 billion. Johnson & Johnson had a net margin of 46.34% and a return on equity of 36.60%. The business’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.80 EPS. On average, equities research analysts anticipate that Johnson & Johnson will post 10.02 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Tuesday, August 27th were issued a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a dividend yield of 3.04%. The ex-dividend date was Tuesday, August 27th. Johnson & Johnson’s dividend payout ratio is currently 30.92%.

Insider Activity at Johnson & Johnson

In related news, VP Robert J. Decker sold 5,635 shares of the stock in a transaction on Friday, August 30th. The shares were sold at an average price of $165.06, for a total transaction of $930,113.10. Following the transaction, the vice president now owns 18,973 shares of the company’s stock, valued at approximately $3,131,683.38. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.16% of the stock is owned by insiders.

Analyst Ratings Changes

JNJ has been the topic of a number of research analyst reports. Cantor Fitzgerald reiterated an “overweight” rating and issued a $215.00 target price on shares of Johnson & Johnson in a research note on Monday. Royal Bank of Canada restated an “outperform” rating and set a $175.00 price target on shares of Johnson & Johnson in a research note on Friday. StockNews.com upgraded shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 14th. The Goldman Sachs Group dropped their price target on shares of Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating on the stock in a research note on Friday, July 19th. Finally, TD Cowen dropped their price target on shares of Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating on the stock in a research note on Thursday, July 18th. Seven equities research 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. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $173.21.

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.