Providence Financial Advisors LLC Takes Position in Johnson & Johnson $JNJ

Providence Financial Advisors LLC acquired a new position in Johnson & Johnson (NYSE:JNJ) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,117 shares of the company’s stock, valued at approximately $1,134,000. Johnson & Johnson makes up 1.1% of Providence Financial Advisors LLC’s portfolio, making the stock its 13th biggest holding.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its stake in Johnson & Johnson by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 237,047,859 shares of the company’s stock valued at $36,209,060,000 after purchasing an additional 3,085,180 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Johnson & Johnson by 2.1% in the second quarter. Geode Capital Management LLC now owns 60,609,476 shares of the company’s stock valued at $9,227,988,000 after buying an additional 1,225,676 shares in the last quarter. Norges Bank acquired a new position in shares of Johnson & Johnson during the 2nd quarter worth $4,877,174,000. Bank of New York Mellon Corp boosted its position in shares of Johnson & Johnson by 3.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 24,637,649 shares of the company’s stock worth $4,568,313,000 after buying an additional 835,146 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Johnson & Johnson by 0.3% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 18,951,337 shares of the company’s stock valued at $2,894,979,000 after acquiring an additional 52,074 shares during the last quarter. 69.55% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently commented on JNJ. BMO Capital Markets reiterated an “outperform” rating on shares of Johnson & Johnson in a research report on Thursday, December 11th. Royal Bank Of Canada increased their target price on Johnson & Johnson from $240.00 to $255.00 and gave the company an “outperform” rating in a report on Tuesday, February 3rd. HSBC boosted their price target on Johnson & Johnson from $240.00 to $265.00 and gave the stock a “buy” rating in a report on Friday, January 30th. Wells Fargo & Company increased their price objective on Johnson & Johnson from $230.00 to $240.00 and gave the company an “overweight” rating in a research note on Thursday, January 22nd. Finally, Barclays lifted their price objective on Johnson & Johnson from $197.00 to $217.00 and gave the stock an “equal weight” rating in a research report on Tuesday, December 30th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $233.73.

Johnson & Johnson Stock Down 0.5%

Shares of NYSE JNJ opened at $243.37 on Monday. The stock has a market capitalization of $586.51 billion, a PE ratio of 22.02, a P/E/G ratio of 2.36 and a beta of 0.35. The company has a quick ratio of 0.77, a current ratio of 1.03 and a debt-to-equity ratio of 0.48. The firm has a fifty day moving average of $217.25 and a 200-day moving average of $196.79. Johnson & Johnson has a 52-week low of $141.50 and a 52-week high of $246.35.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings data on Saturday, January 31st. The company reported $2.46 earnings per share for the quarter. Johnson & Johnson had a return on equity of 33.04% and a net margin of 28.46%.The business had revenue of $24.28 billion for the quarter. On average, 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 will be paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 24th will be paid a $1.30 dividend. The ex-dividend date is Tuesday, February 24th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 2.1%. Johnson & Johnson’s dividend payout ratio (DPR) is 47.06%.

More Johnson & Johnson News

Here are the key news stories impacting Johnson & Johnson this week:

• Positive Sentiment: Jim Cramer publicly praised J&J on-air, calling the company “amazing,” which can boost retail investor interest and provide short-term support for the stock. Johnson & Johnson (JNJ) Is Amazing, Says Jim Cramer
• Neutral Sentiment: Wall Street Zen cut JNJ to a Hold, signaling reduced upside conviction from at least one boutique research provider; that can temper buying enthusiasm but is not a major institutional downgrade. Johnson & Johnson (NYSE:JNJ) Cut to Hold at Wall Street Zen
• Negative Sentiment: A Pennsylvania jury found J&J liable in a talc/ovarian-cancer case and ordered $250,000 in damages to the family of Gayle Emerson — a reminder that ongoing talc litigation continues to create legal costs, uncertainty and headline risk for the company. Jury: Johnson & Johnson Liable in Case Linking Baby Powder to Cancer

Johnson & Johnson Company Profile

Johnson & Johnson is a multinational healthcare company headquartered in New Brunswick, New Jersey, that develops, manufactures and markets a broad range of products across pharmaceuticals, medical devices and previously consumer health. Founded in 1886 by the Johnson family, the company has grown into a global healthcare organization with operations and sales in many countries around the world.

The company’s pharmaceuticals business, organized largely under its Janssen research and development organization, focuses on prescription medicines across therapeutic areas such as immunology, infectious disease, oncology and neuroscience.