Procyon Advisors LLC Has $8.49 Million Holdings in Johnson & Johnson (NYSE:JNJ)

Procyon Advisors LLC boosted its position in shares of Johnson & Johnson (NYSE:JNJ) by 2.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 53,690 shares of the company’s stock after purchasing an additional 1,336 shares during the period. Procyon Advisors LLC’s holdings in Johnson & Johnson were worth $8,493,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in JNJ. Keener Financial Planning LLC acquired a new stake in Johnson & Johnson during the 4th quarter worth about $40,000. WFA Asset Management Corp boosted its holdings in shares of Johnson & Johnson by 61.4% during the fourth quarter. WFA Asset Management Corp now owns 255 shares of the company’s stock worth $40,000 after purchasing an additional 97 shares during the period. Vermillion & White Wealth Management Group LLC purchased a new position in Johnson & Johnson during the fourth quarter valued at approximately $44,000. Disciplined Equity Management Inc. purchased a new stake in Johnson & Johnson in the 4th quarter worth approximately $45,000. Finally, Grayhawk Investment Strategies Inc. boosted its stake in shares of Johnson & Johnson by 528.6% during the 4th quarter. Grayhawk Investment Strategies Inc. now owns 308 shares of the company’s stock valued at $48,000 after buying an additional 259 shares during the period. 69.55% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on JNJ shares. The Goldman Sachs Group initiated coverage on shares of Johnson & Johnson in a research note on Thursday, May 30th. They issued a “neutral” rating and a $160.00 price target on the stock. StockNews.com downgraded Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 22nd. Cantor Fitzgerald reissued an “overweight” rating and issued a $215.00 price target on shares of Johnson & Johnson in a research note on Thursday, June 20th. HSBC raised shares of Johnson & Johnson from a “hold” rating to a “buy” rating and raised their price objective for the company from $169.00 to $170.00 in a research report on Thursday, April 18th. Finally, Bank of America decreased their target price on shares of Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating for the company in a research report on Wednesday, April 17th. Eight analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $174.07.

Johnson & Johnson Trading Down 0.7 %

Shares of NYSE:JNJ opened at $145.82 on Friday. Johnson & Johnson has a 52-week low of $143.13 and a 52-week high of $175.97. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.94 and a current ratio of 1.17. The stock’s 50-day moving average is $148.17 and its 200-day moving average is $154.19. The company has a market cap of $350.94 billion, a P/E ratio of 9.09, a P/E/G ratio of 2.44 and a beta of 0.53.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings data on Tuesday, April 16th. The company reported $2.71 earnings per share for the quarter, topping the consensus estimate of $2.64 by $0.07. The firm had revenue of $21.38 billion for the quarter, compared to analysts’ expectations of $21.39 billion. Johnson & Johnson had a net margin of 45.26% and a return on equity of 36.70%. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.68 earnings per share. Equities research analysts predict that Johnson & Johnson will post 10.62 earnings per share for the current year.

Johnson & Johnson Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 4th. Investors of record on Tuesday, May 21st were given a dividend of $1.24 per share. This is an increase from Johnson & Johnson’s previous quarterly dividend of $1.19. The ex-dividend date of this dividend was Monday, May 20th. This represents a $4.96 annualized dividend and a yield of 3.40%. Johnson & Johnson’s dividend payout ratio is 30.92%.

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.