Providence Wealth Advisors LLC Boosts Position in Johnson & Johnson (NYSE:JNJ)

Providence Wealth Advisors LLC increased its stake in Johnson & Johnson (NYSE:JNJ) by 1.5% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 9,585 shares of the company’s stock after acquiring an additional 145 shares during the quarter. Providence Wealth Advisors LLC’s holdings in Johnson & Johnson were worth $1,569,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Innealta Capital LLC purchased a new position in Johnson & Johnson during the 2nd quarter valued at about $27,000. Highline Wealth Partners LLC purchased a new position in Johnson & Johnson during the 3rd quarter valued at about $31,000. RPg Family Wealth Advisory LLC purchased a new position in Johnson & Johnson during the 3rd quarter valued at about $35,000. Mowery & Schoenfeld Wealth Management LLC increased its position in Johnson & Johnson by 58.7% during the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 246 shares of the company’s stock valued at $40,000 after purchasing an additional 91 shares during the period. Finally, Activest Wealth Management purchased a new position in Johnson & Johnson during the 3rd quarter valued at about $40,000. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Stock Up 0.6 %

JNJ stock opened at $155.40 on Friday. The firm has a 50 day moving average of $159.33 and a 200 day moving average of $156.38. The stock has a market capitalization of $374.14 billion, a PE ratio of 22.49, a price-to-earnings-growth ratio of 2.76 and a beta of 0.53. The company has a quick ratio of 0.79, a current ratio of 1.03 and a debt-to-equity ratio of 0.45. Johnson & Johnson has a 52 week low of $143.13 and a 52 week high of $168.85.

Johnson & Johnson (NYSE:JNJ) last released its earnings results on Tuesday, October 15th. The company reported $2.42 EPS for the quarter, topping analysts’ consensus estimates of $2.21 by $0.21. Johnson & Johnson had a net margin of 19.14% and a return on equity of 35.45%. The company had revenue of $22.47 billion during the quarter, compared to analysts’ expectations of $22.17 billion. During the same period last year, the business earned $2.66 EPS. Johnson & Johnson’s revenue for the quarter was up 5.2% on a year-over-year basis. Sell-side analysts forecast that Johnson & Johnson will post 9.93 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 26th will be paid a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a yield of 3.19%. The ex-dividend date is Tuesday, November 26th. Johnson & Johnson’s payout ratio is 71.78%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Guggenheim raised their target price on shares of Johnson & Johnson from $156.00 to $162.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th. Citigroup raised their target price on shares of Johnson & Johnson from $180.00 to $185.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $215.00 price objective on shares of Johnson & Johnson in a research report on Wednesday, October 16th. Royal Bank of Canada lifted their price objective on shares of Johnson & Johnson from $178.00 to $181.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Finally, Morgan Stanley lifted 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 report on Wednesday, October 16th. Seven equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $175.94.

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.