Phoenix Wealth Advisors Raises Stock Position in Johnson & Johnson (NYSE:JNJ)

Phoenix Wealth Advisors lifted its position in Johnson & Johnson (NYSE:JNJ) by 4.1% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 22,120 shares of the company’s stock after buying an additional 862 shares during the period. Johnson & Johnson makes up about 1.6% of Phoenix Wealth Advisors’ portfolio, making the stock its 17th largest position. Phoenix Wealth Advisors’ holdings in Johnson & Johnson were worth $3,233,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of JNJ. Norges Bank acquired a new stake in Johnson & Johnson in the 4th quarter worth approximately $4,071,642,000. Wellington Management Group LLP lifted its stake in Johnson & Johnson by 16.4% during the 4th quarter. Wellington Management Group LLP now owns 24,019,725 shares of the company’s stock valued at $3,764,852,000 after acquiring an additional 3,391,657 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in Johnson & Johnson by 16.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 21,834,359 shares of the company’s stock valued at $3,453,978,000 after acquiring an additional 3,139,499 shares during the period. Swedbank AB acquired a new stake in Johnson & Johnson during the 1st quarter valued at approximately $331,178,000. Finally, Manning & Napier Advisors LLC acquired a new stake in Johnson & Johnson during the 2nd quarter valued at approximately $229,824,000. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Johnson & Johnson Price Performance

Shares of Johnson & Johnson stock traded up $0.62 during trading hours on Thursday, reaching $159.10. 7,237,481 shares of the company’s stock were exchanged, compared to its average volume of 7,355,802. The company has a quick ratio of 0.85, a current ratio of 1.07 and a debt-to-equity ratio of 0.44. Johnson & Johnson has a 1 year low of $143.13 and a 1 year high of $175.39. The business has a fifty day moving average of $151.88 and a two-hundred day moving average of $153.10. The company has a market capitalization of $382.90 billion, a P/E ratio of 9.90, a price-to-earnings-growth ratio of 2.63 and a beta of 0.52.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings data on Wednesday, July 17th. The company reported $2.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.71 by $0.11. Johnson & Johnson had a net margin of 46.34% and a return on equity of 36.60%. The firm had revenue of $22.45 billion during the quarter, compared to analyst estimates of $22.33 billion. During the same quarter in the prior year, the firm posted $2.80 earnings per share. Johnson & Johnson’s quarterly revenue was up 4.3% on a year-over-year basis. As a group, research analysts predict that Johnson & Johnson will post 10.07 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 27th will be given a $1.24 dividend. The ex-dividend date is Tuesday, August 27th. This represents a $4.96 dividend on an annualized basis and a yield of 3.12%. Johnson & Johnson’s payout ratio is currently 30.92%.

Analyst Ratings Changes

Several brokerages have commented on JNJ. Cantor Fitzgerald restated an “overweight” rating and set a $215.00 price objective on shares of Johnson & Johnson in a research note on Monday, August 5th. Daiwa America cut shares of Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. Bank of America decreased their target price on shares of Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating for the company in a research note on Wednesday, April 17th. StockNews.com cut shares of Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 8th. Finally, TD Cowen decreased their target price on shares of Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating for the company in a research note on Thursday, July 18th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $173.21.

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.