Johnson & Johnson (NYSE:JNJ) Shares Purchased by Prentice Wealth Management LLC

Prentice Wealth Management LLC raised its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 6.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,347 shares of the company’s stock after buying an additional 326 shares during the period. Prentice Wealth Management LLC’s holdings in Johnson & Johnson were worth $867,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Wellington Management Group LLP raised its stake in shares of Johnson & Johnson by 16.4% during the fourth quarter. Wellington Management Group LLP now owns 24,019,725 shares of the company’s stock valued at $3,764,852,000 after purchasing an additional 3,391,657 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Johnson & Johnson by 16.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 21,834,359 shares of the company’s stock valued at $3,453,978,000 after purchasing an additional 3,139,499 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in Johnson & Johnson by 10.8% during the second quarter. Massachusetts Financial Services Co. MA now owns 18,780,645 shares of the company’s stock valued at $2,744,979,000 after purchasing an additional 1,831,751 shares during the last quarter. Ameriprise Financial Inc. increased its stake in Johnson & Johnson by 5.5% during the second quarter. Ameriprise Financial Inc. now owns 14,374,397 shares of the company’s stock valued at $2,100,427,000 after purchasing an additional 754,200 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Johnson & Johnson by 16.2% during the second quarter. Dimensional Fund Advisors LP now owns 13,147,352 shares of the company’s stock valued at $1,921,565,000 after purchasing an additional 1,829,257 shares during the last quarter. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Stock Performance

Johnson & Johnson stock traded down $0.76 during trading hours on Monday, reaching $159.53. 4,227,843 shares of the company were exchanged, compared to its average volume of 7,077,144. The firm has a market cap of $383.94 billion, a price-to-earnings ratio of 9.95, a PEG ratio of 2.69 and a beta of 0.52. 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 50-day moving average of $162.60 and a 200 day moving average of $154.30. Johnson & Johnson has a 12 month low of $143.13 and a 12 month high of $168.85.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings data on Wednesday, July 17th. The company reported $2.82 earnings per share for the quarter, beating the consensus estimate of $2.71 by $0.11. Johnson & Johnson had a return on equity of 36.60% and a net margin of 46.34%. The company had revenue of $22.45 billion during the quarter, compared to analysts’ expectations of $22.33 billion. During the same period in the prior year, the business earned $2.80 earnings per share. Johnson & Johnson’s revenue for the quarter was up 4.3% compared to the same quarter last year. As a group, research analysts anticipate that Johnson & Johnson will post 10.02 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Tuesday, August 27th were paid a $1.24 dividend. The ex-dividend date was Tuesday, August 27th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.11%. Johnson & Johnson’s payout ratio is 30.92%.

Insider Activity at Johnson & Johnson

In related news, VP Robert J. Decker sold 5,635 shares of the company’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 completion of the transaction, the vice president now directly owns 18,973 shares in the company, valued at approximately $3,131,683.38. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.16% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

JNJ has been the subject of several analyst reports. TD Securities reduced their price target on shares of Johnson & Johnson from $195.00 to $185.00 in a report on Thursday, July 18th. Daiwa Capital Markets downgraded shares of Johnson & Johnson from an “outperform” rating to a “neutral” rating and cut their price target for the company from $160.00 to $150.00 in a report on Tuesday, July 23rd. Royal Bank of Canada reissued an “outperform” rating and issued a $175.00 price target on shares of Johnson & Johnson in a report on Friday, September 20th. Cantor Fitzgerald restated an “overweight” rating and set a $215.00 price objective on shares of Johnson & Johnson in a report on Monday, September 30th. Finally, The Goldman Sachs Group dropped their target price on Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating on the stock in a report on Friday, July 19th. Seven 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 company’s stock. Based on data from MarketBeat, Johnson & Johnson currently has a consensus rating of “Moderate Buy” and an average target price of $173.21.

Johnson & Johnson 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.