Prentice Wealth Management LLC Increases Stake in Johnson & Johnson (NYSE:JNJ)

Prentice Wealth Management LLC raised its holdings in Johnson & Johnson (NYSE:JNJ) by 2.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,701 shares of the company’s stock after buying an additional 114 shares during the period. Prentice Wealth Management LLC’s holdings in Johnson & Johnson were worth $945,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in JNJ. MRP Capital Investments LLC increased its position in shares of Johnson & Johnson by 4.1% in the fourth quarter. MRP Capital Investments LLC now owns 1,640 shares of the company’s stock valued at $237,000 after buying an additional 65 shares in the last quarter. Syverson Strege & Co grew its stake in Johnson & Johnson by 4.9% in the 4th quarter. Syverson Strege & Co now owns 1,394 shares of the company’s stock valued at $202,000 after acquiring an additional 65 shares during the last quarter. Werba Rubin Papier Wealth Management raised its position in Johnson & Johnson by 3.3% during the fourth quarter. Werba Rubin Papier Wealth Management now owns 2,080 shares of the company’s stock worth $301,000 after acquiring an additional 66 shares during the last quarter. Denali Advisors LLC lifted its holdings in shares of Johnson & Johnson by 1.3% in the fourth quarter. Denali Advisors LLC now owns 5,128 shares of the company’s stock valued at $742,000 after purchasing an additional 67 shares in the last quarter. Finally, Sage Mountain Advisors LLC grew its position in shares of Johnson & Johnson by 0.5% in the fourth quarter. Sage Mountain Advisors LLC now owns 14,564 shares of the company’s stock valued at $2,106,000 after purchasing an additional 67 shares during the last quarter. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Leerink Partnrs downgraded Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 13th. Morgan Stanley boosted their price target on Johnson & Johnson from $164.00 to $169.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 16th. Barclays decreased their price objective on Johnson & Johnson from $166.00 to $165.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 17th. Benchmark raised shares of Johnson & Johnson to a “strong-buy” rating in a research note on Thursday, April 24th. Finally, Guggenheim reaffirmed a “neutral” rating on shares of Johnson & Johnson in a research note on Wednesday, April 2nd. Eleven 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 stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $170.88.

Johnson & Johnson Stock Up 0.2%

Shares of NYSE JNJ opened at $156.90 on Monday. The stock has a market capitalization of $377.52 billion, a PE ratio of 23.59, a P/E/G ratio of 2.56 and a beta of 0.42. The company has a quick ratio of 0.86, a current ratio of 1.11 and a debt-to-equity ratio of 0.43. The firm has a fifty day moving average of $153.84 and a 200-day moving average of $153.70. Johnson & Johnson has a 52-week low of $140.68 and a 52-week high of $169.99.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings results on Tuesday, April 15th. The company reported $2.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.59 by $0.18. The firm had revenue of $21.89 billion during the quarter, compared to the consensus estimate of $21.65 billion. Johnson & Johnson had a return on equity of 34.24% and a net margin of 18.20%. On average, analysts anticipate that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Tuesday, May 27th were given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 3.31%. This is a boost from Johnson & Johnson’s previous quarterly dividend of $1.24. The ex-dividend date of this dividend was Tuesday, May 27th. Johnson & Johnson’s payout ratio is 57.84%.

Johnson & Johnson 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.