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

Procyon Advisors LLC raised its position in Johnson & Johnson (NYSE:JNJ) by 2.6% during the first quarter, Holdings Channel reports. The firm 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 quarter.

Other institutional investors also recently modified their holdings of the company. Dempze Nancy E boosted its holdings in shares of Johnson & Johnson by 0.7% during the 3rd quarter. Dempze Nancy E now owns 23,295 shares of the company’s stock worth $3,628,000 after buying an additional 155 shares in the last quarter. Waverly Advisors LLC boosted its stake in Johnson & Johnson by 153.3% during the third quarter. Waverly Advisors LLC now owns 53,016 shares of the company’s stock worth $8,257,000 after acquiring an additional 32,084 shares in the last quarter. United Services Automobile Association grew its holdings in Johnson & Johnson by 0.5% in the third quarter. United Services Automobile Association now owns 691,445 shares of the company’s stock worth $107,693,000 after purchasing an additional 3,522 shares during the period. First Business Financial Services Inc. increased its stake in Johnson & Johnson by 2.8% in the third quarter. First Business Financial Services Inc. now owns 10,723 shares of the company’s stock valued at $1,670,000 after purchasing an additional 287 shares in the last quarter. Finally, Fusion Capital LLC boosted its position in shares of Johnson & Johnson by 5.9% during the 3rd quarter. Fusion Capital LLC now owns 32,453 shares of the company’s stock worth $5,055,000 after purchasing an additional 1,800 shares in the last quarter. 69.55% of the stock is owned by institutional investors.

Johnson & Johnson Stock Performance

Shares of JNJ opened at $145.82 on Friday. The stock has a 50 day moving average of $148.17 and a 200 day moving average of $154.19. The company has a current ratio of 1.17, a quick ratio of 0.94 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $350.94 billion, a price-to-earnings ratio of 9.09, a PEG ratio of 2.44 and a beta of 0.53. Johnson & Johnson has a 12 month low of $143.13 and a 12 month high of $175.97.

Johnson & Johnson (NYSE:JNJ) last released its earnings results on Tuesday, April 16th. The company reported $2.71 earnings per share for the quarter, beating analysts’ consensus estimates of $2.64 by $0.07. The firm had revenue of $21.38 billion during the quarter, compared to the consensus estimate of $21.39 billion. Johnson & Johnson had a net margin of 45.26% and a return on equity of 36.70%. The company’s 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 EPS. As a group, sell-side analysts forecast that Johnson & Johnson will post 10.62 earnings per share for the current year.

Johnson & Johnson Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 4th. Investors of record on Tuesday, May 21st were issued a $1.24 dividend. The ex-dividend date of this dividend was Monday, May 20th. This represents a $4.96 annualized dividend and a yield of 3.40%. This is a positive change from Johnson & Johnson’s previous quarterly dividend of $1.19. Johnson & Johnson’s dividend payout ratio (DPR) is 30.92%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on JNJ. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $175.00 target price on shares of Johnson & Johnson in a research report on Monday, June 17th. StockNews.com cut Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 22nd. The Goldman Sachs Group started coverage on shares of Johnson & Johnson in a report on Thursday, May 30th. They set a “neutral” rating and a $160.00 price objective on the stock. Cantor Fitzgerald reiterated an “overweight” rating and set a $215.00 price objective on shares of Johnson & Johnson in a report on Thursday, June 20th. Finally, Bank of America dropped their price target on shares of Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 17th. Eight research 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, Johnson & Johnson presently has an average rating of “Hold” and a consensus price target of $174.07.

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.