Denver PWM LLC Makes New Investment in Johnson & Johnson (NYSE:JNJ)

Denver PWM LLC acquired a new stake in shares of Johnson & Johnson (NYSE:JNJ) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 426 shares of the company’s stock, valued at approximately $62,000.

Several other hedge funds have also recently modified their holdings of the stock. Citizens & Northern Corp grew its holdings in Johnson & Johnson by 3.5% in the second quarter. Citizens & Northern Corp now owns 1,884 shares of the company’s stock valued at $275,000 after purchasing an additional 63 shares during the last quarter. Carolinas Wealth Consulting LLC boosted its position in shares of Johnson & Johnson by 0.4% in the 4th quarter. Carolinas Wealth Consulting LLC now owns 16,861 shares of the company’s stock worth $2,643,000 after buying an additional 64 shares in the last quarter. Epic Trust Investment Advisors LLC grew its stake in Johnson & Johnson by 3.6% in the 2nd quarter. Epic Trust Investment Advisors LLC now owns 1,831 shares of the company’s stock valued at $268,000 after acquiring an additional 64 shares during the last quarter. Verity Asset Management Inc. increased its holdings in Johnson & Johnson by 2.0% during the 4th quarter. Verity Asset Management Inc. now owns 3,268 shares of the company’s stock valued at $512,000 after acquiring an additional 65 shares in the last quarter. Finally, Outfitter Financial LLC raised its position in Johnson & Johnson by 0.4% during the second quarter. Outfitter Financial LLC now owns 16,632 shares of the company’s stock worth $2,431,000 after acquiring an additional 65 shares during the last quarter. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. Daiwa Capital Markets cut 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 note on Tuesday, July 23rd. StockNews.com cut Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a report on Friday. Sanford C. Bernstein increased their price objective on Johnson & Johnson from $161.00 to $171.00 in a research note on Thursday, July 18th. Cantor Fitzgerald reissued an “overweight” rating and issued a $215.00 target price on shares of Johnson & Johnson in a research note on Tuesday, September 3rd. Finally, The Goldman Sachs Group decreased 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. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, Johnson & Johnson presently has a consensus rating of “Moderate Buy” and an average target price of $173.21.

Johnson & Johnson Trading Down 0.4 %

Shares of JNJ opened at $164.38 on Friday. The stock’s fifty day simple moving average is $157.57 and its 200 day simple moving average is $153.81. Johnson & Johnson has a twelve month low of $143.13 and a twelve month high of $168.85. 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 firm has a market capitalization of $395.61 billion, a P/E ratio of 10.25, a price-to-earnings-growth ratio of 2.73 and a beta of 0.53.

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

Johnson & Johnson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Tuesday, August 27th will be issued a dividend of $1.24 per share. The ex-dividend date is Tuesday, August 27th. This represents a $4.96 annualized dividend and a dividend yield of 3.02%. Johnson & Johnson’s payout ratio is 30.92%.

Insider Buying and Selling

In other Johnson & Johnson news, VP Robert J. Decker sold 5,635 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was 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 in the company, valued at $3,131,683.38. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.16% of the stock is owned by corporate insiders.

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.