Praxis Investment Management Inc. Boosts Stock Position in Johnson & Johnson $JNJ

Praxis Investment Management Inc. lifted its stake in Johnson & Johnson (NYSE:JNJ) by 10.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 54,813 shares of the company’s stock after acquiring an additional 5,152 shares during the period. Johnson & Johnson makes up about 0.6% of Praxis Investment Management Inc.’s holdings, making the stock its 23rd largest holding. Praxis Investment Management Inc.’s holdings in Johnson & Johnson were worth $10,163,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in JNJ. Rydar Equities Inc. purchased a new position in Johnson & Johnson during the 2nd quarter valued at about $870,000. Summit Financial Wealth Advisors LLC boosted its position in shares of Johnson & Johnson by 4.4% in the second quarter. Summit Financial Wealth Advisors LLC now owns 6,478 shares of the company’s stock valued at $990,000 after acquiring an additional 271 shares during the period. Capital A Wealth Management LLC grew its stake in Johnson & Johnson by 20.3% during the second quarter. Capital A Wealth Management LLC now owns 426 shares of the company’s stock valued at $67,000 after acquiring an additional 72 shares in the last quarter. Caldwell Trust Co bought a new stake in Johnson & Johnson during the 2nd quarter worth approximately $9,052,000. Finally, Canal Capital Management LLC lifted its stake in Johnson & Johnson by 3.7% in the 2nd quarter. Canal Capital Management LLC now owns 49,733 shares of the company’s stock worth $7,597,000 after purchasing an additional 1,783 shares in the last quarter. 69.55% of the stock is currently owned by institutional investors.

Johnson & Johnson Price Performance

JNJ opened at $214.41 on Tuesday. The stock has a market capitalization of $516.58 billion, a P/E ratio of 20.70, a PEG ratio of 2.36 and a beta of 0.36. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.50. Johnson & Johnson has a 12-month low of $140.68 and a 12-month high of $215.19. The stock has a 50-day moving average price of $196.61 and a 200-day moving average price of $177.85.

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

Johnson & Johnson Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 9th. Investors of record on Tuesday, November 25th were issued a dividend of $1.30 per share. The ex-dividend date of this dividend was Tuesday, November 25th. This represents a $5.20 annualized dividend and a dividend yield of 2.4%. Johnson & Johnson’s dividend payout ratio (DPR) is currently 50.19%.

Analyst Upgrades and Downgrades

JNJ has been the topic of several research analyst reports. BMO Capital Markets reaffirmed an “outperform” rating on shares of Johnson & Johnson in a report on Thursday. Wells Fargo & Company upped their target price on Johnson & Johnson from $212.00 to $230.00 and gave the stock an “overweight” rating in a research note on Friday. Loop Capital set a $190.00 price target on Johnson & Johnson in a research report on Wednesday, October 22nd. Wall Street Zen raised Johnson & Johnson from a “hold” rating to a “buy” rating in a report on Saturday, September 13th. Finally, Sanford C. Bernstein raised their target price on shares of Johnson & Johnson from $172.00 to $193.00 and gave the company a “market perform” rating in a research note on Monday, October 6th. Four equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $208.35.

About Johnson & Johnson

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.