Providence Wealth Advisors LLC Raises Holdings in Johnson & Johnson $JNJ

Providence Wealth Advisors LLC lifted its stake in Johnson & Johnson (NYSE:JNJ) by 2.5% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 10,913 shares of the company’s stock after acquiring an additional 269 shares during the period. Johnson & Johnson comprises about 1.1% of Providence Wealth Advisors LLC’s holdings, making the stock its 28th biggest position. Providence Wealth Advisors LLC’s holdings in Johnson & Johnson were worth $1,667,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of JNJ. GFG Capital LLC acquired a new stake in shares of Johnson & Johnson during the second quarter worth $35,000. Stone House Investment Management LLC purchased a new position in Johnson & Johnson in the 1st quarter worth $47,000. 1248 Management LLC acquired a new stake in Johnson & Johnson during the 1st quarter worth about $48,000. Harvest Fund Management Co. Ltd purchased a new stake in Johnson & Johnson during the 1st quarter valued at about $52,000. Finally, Pandora Wealth Inc. acquired a new position in shares of Johnson & Johnson in the first quarter valued at about $65,000. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on JNJ shares. Morgan Stanley set a $190.00 target price on Johnson & Johnson in a report on Wednesday, October 15th. HSBC lifted their price objective on shares of Johnson & Johnson from $210.00 to $215.00 and gave the company a “buy” rating in a research note on Thursday, October 16th. Sanford C. Bernstein increased their price objective on shares of Johnson & Johnson from $172.00 to $193.00 and gave the stock a “market perform” rating in a research note on Monday, October 6th. Weiss Ratings restated a “buy (b)” rating on shares of Johnson & Johnson in a research report on Friday, October 31st. Finally, The Goldman Sachs Group upped their price target on shares of Johnson & Johnson from $186.00 to $212.00 and gave the company a “buy” rating in a report on Thursday, October 9th. Four investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $201.05.

Johnson & Johnson Price Performance

NYSE:JNJ opened at $203.88 on Friday. Johnson & Johnson has a 52 week low of $140.68 and a 52 week high of $206.94. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $491.21 billion, a PE ratio of 19.68, a price-to-earnings-growth ratio of 2.19 and a beta of 0.38. The stock’s 50-day moving average price is $188.25 and its 200-day moving average price is $171.67.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings results on Wednesday, August 30th. The company reported $2.26 earnings per share for the quarter. Johnson & Johnson had a return on equity of 32.73% and a net margin of 27.26%.The company had revenue of $24.02 billion during the quarter. As a group, equities analysts expect that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 9th. Investors of record on Tuesday, November 25th will be paid a $1.30 dividend. The ex-dividend date of this dividend is Tuesday, November 25th. This represents a $5.20 dividend on an annualized basis and a yield of 2.6%. Johnson & Johnson’s dividend payout ratio (DPR) is currently 50.19%.

Insider Buying and Selling

In other Johnson & Johnson news, EVP Jennifer L. Taubert sold 56,471 shares of the company’s stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $177.81, for a total transaction of $10,041,108.51. Following the completion of the transaction, the executive vice president directly owned 178,013 shares in the company, valued at approximately $31,652,491.53. This represents a 24.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.16% of the company’s stock.

Johnson & Johnson Company 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.