Pallas Capital Advisors LLC Buys 784 Shares of Johnson & Johnson (NYSE:JNJ)

Pallas Capital Advisors LLC raised its stake in Johnson & Johnson (NYSE:JNJ) by 1.0% during the 3rd quarter, Holdings Channel reports. The fund owned 77,610 shares of the company’s stock after acquiring an additional 784 shares during the period. Pallas Capital Advisors LLC’s holdings in Johnson & Johnson were worth $12,702,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the stock. Cornerstone Wealth Group LLC boosted its position in shares of Johnson & Johnson by 63.3% in the first quarter. Cornerstone Wealth Group LLC now owns 52,737 shares of the company’s stock valued at $8,343,000 after acquiring an additional 20,446 shares during the period. Red Door Wealth Management LLC raised its stake in Johnson & Johnson by 2.0% in the 1st quarter. Red Door Wealth Management LLC now owns 47,322 shares of the company’s stock worth $7,486,000 after purchasing an additional 921 shares in the last quarter. Trilogy Capital Inc. boosted its holdings in Johnson & Johnson by 91.5% in the 1st quarter. Trilogy Capital Inc. now owns 4,392 shares of the company’s stock valued at $695,000 after purchasing an additional 2,099 shares during the period. Sandy Cove Advisors LLC increased its holdings in shares of Johnson & Johnson by 4.4% during the first quarter. Sandy Cove Advisors LLC now owns 5,597 shares of the company’s stock worth $885,000 after purchasing an additional 238 shares during the period. Finally, Strata Wealth Advisors LLC raised its position in shares of Johnson & Johnson by 219.2% in the first quarter. Strata Wealth Advisors LLC now owns 5,927 shares of the company’s stock valued at $938,000 after buying an additional 4,070 shares in the last quarter. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Johnson & Johnson

In related news, VP Robert J. Decker sold 5,635 shares of the firm’s stock in a transaction on 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 directly owns 18,973 shares of the company’s stock, valued at $3,131,683.38. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.16% of the stock is owned by company insiders.

Johnson & Johnson Stock Down 0.9 %

Shares of NYSE:JNJ opened at $160.14 on Wednesday. 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 has a 52-week low of $143.13 and a 52-week high of $168.85. The company has a market capitalization of $385.41 billion, a PE ratio of 9.98, a price-to-earnings-growth ratio of 2.90 and a beta of 0.52. The company has a fifty day moving average of $163.45 and a 200-day moving average of $155.28.

Johnson & Johnson (NYSE:JNJ) last posted its earnings results on Tuesday, October 15th. The company reported $2.42 EPS for the quarter, beating the consensus estimate of $2.21 by $0.21. The firm had revenue of $22.47 billion during the quarter, compared to the consensus estimate of $22.17 billion. Johnson & Johnson had a return on equity of 35.46% and a net margin of 19.14%. The business’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period last year, the company earned $2.66 earnings per share. On average, equities analysts predict that Johnson & Johnson will post 9.94 EPS for the current fiscal year.

Johnson & Johnson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 26th will be given a $1.24 dividend. This represents a $4.96 annualized dividend and a yield of 3.10%. The ex-dividend date of this dividend is Tuesday, November 26th. Johnson & Johnson’s dividend payout ratio (DPR) is currently 30.92%.

Analyst Upgrades and Downgrades

JNJ has been the topic of a number of recent research reports. Cantor Fitzgerald restated an “overweight” rating and set a $215.00 price objective on shares of Johnson & Johnson in a research note on Wednesday, October 16th. Citigroup boosted their price target on Johnson & Johnson from $180.00 to $185.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Morgan Stanley increased their price objective on shares of Johnson & Johnson from $169.00 to $175.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Daiwa Capital Markets cut shares of Johnson & Johnson from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $160.00 to $150.00 in a research report on Tuesday, July 23rd. Finally, The Goldman Sachs Group reduced their price target on shares of Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating on the stock in a research report on Friday, July 19th. Six investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $175.93.

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.