PVG Asset Management Corp Makes New Investment in Johnson & Johnson (NYSE:JNJ)

PVG Asset Management Corp acquired a new position in shares of Johnson & Johnson (NYSE:JNJ) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 6,368 shares of the company’s stock, valued at approximately $931,000. Johnson & Johnson makes up about 3.7% of PVG Asset Management Corp’s investment portfolio, making the stock its 8th biggest position.

Several other large investors also recently made changes to their positions in JNJ. Meridian Financial Partners LLC acquired a new position in shares of Johnson & Johnson during the second quarter worth approximately $1,626,000. Summit Financial Wealth Advisors LLC lifted its stake in shares of Johnson & Johnson by 26.3% in the first quarter. Summit Financial Wealth Advisors LLC now owns 5,392 shares of the company’s stock valued at $853,000 after buying an additional 1,122 shares in the last quarter. Franklin Parlapiano Turner & Welch LLC increased its position in shares of Johnson & Johnson by 0.7% during 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 in the last quarter. Capital Asset Advisory Services LLC lifted its position in Johnson & Johnson by 8.8% in the 1st quarter. Capital Asset Advisory Services LLC now owns 26,539 shares of the company’s stock valued at $4,044,000 after acquiring an additional 2,151 shares in the last quarter. Finally, NTV Asset Management LLC boosted its stake in Johnson & Johnson by 1.6% during the 1st quarter. NTV Asset Management LLC now owns 36,000 shares of the company’s stock valued at $5,695,000 after purchasing an additional 565 shares during the last quarter. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

JNJ has been the subject of several analyst reports. Daiwa America downgraded Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. Cantor Fitzgerald restated an “overweight” rating and set a $215.00 price objective on shares of Johnson & Johnson in a research note on Monday. TD Securities lowered their target price on shares of Johnson & Johnson from $195.00 to $185.00 in a report on Thursday, July 18th. StockNews.com upgraded shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 14th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $175.00 price objective on shares of Johnson & Johnson in a research note on Friday, September 20th. Seven equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $173.21.

Insider Buying and Selling

In other Johnson & Johnson news, VP Robert J. Decker sold 5,635 shares of Johnson & Johnson 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 completion of 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 Securities & Exchange Commission, which can be accessed through this link. 0.16% of the stock is currently owned by insiders.

Johnson & Johnson Stock Up 0.4 %

JNJ stock opened at $162.02 on Tuesday. Johnson & Johnson has a fifty-two week low of $143.13 and a fifty-two week high of $168.85. The stock has a fifty day moving average of $162.30 and a 200-day moving average of $154.18. The company has a market capitalization of $389.93 billion, a price-to-earnings ratio of 10.10, a PEG ratio of 2.69 and a beta of 0.53. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.85 and a current ratio of 1.07.

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

Johnson & Johnson Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Tuesday, August 27th were paid a dividend of $1.24 per share. The ex-dividend date was Tuesday, August 27th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.06%. Johnson & Johnson’s payout ratio is 30.92%.

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.