Prospect Financial Group LLC Takes $409,000 Position in Johnson & Johnson (NYSE:JNJ)

Prospect Financial Group LLC bought a new position in Johnson & Johnson (NYSE:JNJ) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 2,830 shares of the company’s stock, valued at approximately $409,000.

A number of other institutional investors and hedge funds also recently modified their holdings of JNJ. Modern Wealth Management LLC raised its holdings in Johnson & Johnson by 35.6% during the 4th quarter. Modern Wealth Management LLC now owns 33,386 shares of the company’s stock worth $5,149,000 after buying an additional 8,769 shares during the period. Segall Bryant & Hamill LLC raised its holdings in shares of Johnson & Johnson by 1.0% during the fourth quarter. Segall Bryant & Hamill LLC now owns 36,670 shares of the company’s stock valued at $5,303,000 after acquiring an additional 367 shares during the period. CoreFirst Bank & Trust purchased a new stake in shares of Johnson & Johnson in the 4th quarter valued at approximately $2,323,000. Grantvest Financial Group LLC acquired a new position in Johnson & Johnson in the 4th quarter worth approximately $439,000. Finally, Lynx Investment Advisory raised its stake in Johnson & Johnson by 12.3% during the 4th quarter. Lynx Investment Advisory now owns 2,088 shares of the company’s stock valued at $302,000 after purchasing an additional 229 shares during the period. 69.55% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Johnson & Johnson

In other Johnson & Johnson news, EVP Timothy Schmid sold 403 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $156.15, for a total value of $62,928.45. Following the completion of the transaction, the executive vice president now owns 15,098 shares of the company’s stock, valued at $2,357,552.70. This represents a 2.60 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Robert J. Decker sold 6,999 shares of Johnson & Johnson stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $165.88, for a total value of $1,160,994.12. Following the sale, the vice president now directly owns 21,001 shares in the company, valued at $3,483,645.88. The trade was a 25.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.16% of the company’s stock.

Johnson & Johnson Stock Performance

NYSE:JNJ opened at $163.43 on Tuesday. The company has a current ratio of 1.11, a quick ratio of 0.86 and a debt-to-equity ratio of 0.43. Johnson & Johnson has a 1 year low of $140.68 and a 1 year high of $169.99. The firm’s fifty day simple moving average is $157.37 and its 200 day simple moving average is $156.16. The firm has a market capitalization of $393.83 billion, a PE ratio of 24.58, a PEG ratio of 2.56 and a beta of 0.47.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings data on Wednesday, January 22nd. The company reported $2.04 earnings per share for the quarter, topping the consensus estimate of $1.99 by $0.05. The business had revenue of $22.52 billion during the quarter, compared to analysts’ expectations of $22.44 billion. Johnson & Johnson had a return on equity of 34.24% and a net margin of 18.20%. The firm’s revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.29 EPS. On average, sell-side analysts anticipate that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th were given a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date was Tuesday, February 18th. Johnson & Johnson’s dividend payout ratio (DPR) is currently 74.59%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Barclays lifted their price target on Johnson & Johnson from $159.00 to $166.00 and gave the company an “equal weight” rating in a report on Tuesday, January 28th. Wells Fargo & Company dropped their target price on Johnson & Johnson from $166.00 to $152.00 and set an “equal weight” rating on the stock in a report on Thursday, January 23rd. Guggenheim restated a “neutral” rating on shares of Johnson & Johnson in a report on Monday, March 10th. Raymond James cut their target price on shares of Johnson & Johnson from $170.00 to $165.00 and set an “outperform” rating for the company in a research report on Thursday, January 23rd. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $181.00 target price on shares of Johnson & Johnson in a research note on Wednesday, February 19th. Nine investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $171.33.

Johnson & Johnson Company Profile

Johnson & Johnson is a holding company, which engages in the research, development, manufacture, and sale of products in the healthcare field. It operates through the Innovative Medicine and MedTech segments. The Innovative Medicine segment focuses on immunology, infectious diseases, neuroscience, oncology, cardiovascular and metabolism, and pulmonary hypertension.