Precedent Wealth Partners LLC Raises Stake in Johnson & Johnson (NYSE:JNJ)

Precedent Wealth Partners LLC increased its position in shares of Johnson & Johnson (NYSE:JNJ) by 6.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 7,601 shares of the company’s stock after acquiring an additional 470 shares during the quarter. Precedent Wealth Partners LLC’s holdings in Johnson & Johnson were worth $1,232,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of JNJ. Summit Wealth Partners LLC grew its stake in shares of Johnson & Johnson by 0.6% in the second quarter. Summit Wealth Partners LLC now owns 10,007 shares of the company’s stock worth $1,463,000 after acquiring an additional 61 shares during the last quarter. Citizens & Northern Corp boosted its holdings in Johnson & Johnson by 3.5% in the 2nd quarter. Citizens & Northern Corp now owns 1,884 shares of the company’s stock valued at $275,000 after purchasing an additional 63 shares during the period. Eagle Wealth Strategies LLC increased its holdings in shares of Johnson & Johnson by 2.8% during the 3rd quarter. Eagle Wealth Strategies LLC now owns 2,294 shares of the company’s stock worth $372,000 after purchasing an additional 63 shares during the period. Epic Trust Investment Advisors LLC raised its position in shares of Johnson & Johnson by 3.6% during the second quarter. Epic Trust Investment Advisors LLC now owns 1,831 shares of the company’s stock valued at $268,000 after buying an additional 64 shares during the last quarter. Finally, Pine Harbor Wealth Management LLC grew its position in Johnson & Johnson by 1.9% during the second quarter. Pine Harbor Wealth Management LLC now owns 3,472 shares of the company’s stock worth $507,000 after buying an additional 64 shares in the last quarter. 69.55% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on JNJ shares. Wells Fargo & Company raised their price objective on Johnson & Johnson from $163.00 to $166.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Daiwa America lowered shares of Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. Sanford C. Bernstein lifted their price objective on Johnson & Johnson from $161.00 to $171.00 in a report on Thursday, July 18th. StockNews.com upgraded Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 14th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $215.00 target price on shares of Johnson & Johnson in a report on Wednesday. Six analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $175.93.

Insider Activity

In related news, VP Robert J. Decker sold 5,635 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $165.06, for a total transaction of $930,113.10. Following the completion of the sale, the vice president now directly owns 18,973 shares of the company’s stock, valued at $3,131,683.38. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.16% of the company’s stock.

Johnson & Johnson Price Performance

Shares of JNJ stock opened at $165.13 on Friday. Johnson & Johnson has a 1 year low of $143.13 and a 1 year high of $168.85. The company has a current ratio of 1.07, a quick ratio of 0.85 and a debt-to-equity ratio of 0.44. The firm’s 50 day moving average is $162.98 and its 200-day moving average is $154.71. The firm has a market capitalization of $397.41 billion, a price-to-earnings ratio of 10.29, a PEG ratio of 2.65 and a beta of 0.52.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings data on Tuesday, October 15th. The company reported $2.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.21 by $0.21. The firm had revenue of $22.47 billion for the quarter, compared to the consensus estimate of $22.17 billion. Johnson & Johnson had a return on equity of 36.60% and a net margin of 46.34%. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.66 EPS. Sell-side analysts forecast that Johnson & Johnson will post 10 EPS for the current fiscal year.

Johnson & Johnson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 26th will be issued a dividend of $1.24 per share. The ex-dividend date is Tuesday, November 26th. This represents a $4.96 annualized dividend and a yield of 3.00%. Johnson & Johnson’s dividend payout ratio is currently 30.92%.

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.