Providence Wealth Advisors LLC Boosts Holdings in Johnson & Johnson (NYSE:JNJ)

Providence Wealth Advisors LLC increased its holdings in Johnson & Johnson (NYSE:JNJ) by 1.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,585 shares of the company’s stock after buying an additional 145 shares during the quarter. Providence Wealth Advisors LLC’s holdings in Johnson & Johnson were worth $1,569,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in JNJ. Innealta Capital LLC purchased a new position in shares of Johnson & Johnson in the second quarter worth approximately $27,000. Highline Wealth Partners LLC bought a new stake in Johnson & Johnson during the 3rd quarter worth approximately $31,000. RPg Family Wealth Advisory LLC bought a new stake in Johnson & Johnson during the 3rd quarter worth approximately $35,000. Mowery & Schoenfeld Wealth Management LLC raised its stake in Johnson & Johnson by 58.7% during the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 246 shares of the company’s stock worth $40,000 after acquiring an additional 91 shares during the period. Finally, Activest Wealth Management bought a new stake in Johnson & Johnson during the 3rd quarter worth approximately $40,000. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. StockNews.com upgraded shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 14th. Royal Bank of Canada lifted their price objective on shares of Johnson & Johnson from $178.00 to $181.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Citigroup lifted their price objective on shares of Johnson & Johnson from $180.00 to $185.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Wells Fargo & Company lifted their price objective on shares of Johnson & Johnson from $163.00 to $166.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. Finally, Guggenheim lifted their price objective on shares of Johnson & Johnson from $156.00 to $162.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th. Seven analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $175.94.

Johnson & Johnson Price Performance

JNJ stock opened at $155.40 on Friday. The company has a fifty day simple moving average of $159.33 and a two-hundred day simple moving average of $156.38. The firm has a market capitalization of $374.14 billion, a P/E ratio of 22.49, a price-to-earnings-growth ratio of 2.76 and a beta of 0.53. The company has a quick ratio of 0.79, a current ratio of 1.03 and a debt-to-equity ratio of 0.45. Johnson & Johnson has a 52 week low of $143.13 and a 52 week high of $168.85.

Johnson & Johnson (NYSE:JNJ) last released its earnings results 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 during the quarter, compared to analyst estimates of $22.17 billion. Johnson & Johnson had a net margin of 19.14% and a return on equity of 35.45%. The business’s revenue was up 5.2% on a year-over-year basis. During the same quarter last year, the business earned $2.66 EPS. Analysts anticipate that Johnson & Johnson will post 9.93 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 26th will be issued a $1.24 dividend. The ex-dividend date is Tuesday, November 26th. This represents a $4.96 annualized dividend and a dividend yield of 3.19%. Johnson & Johnson’s dividend payout ratio (DPR) is presently 71.78%.

Johnson & Johnson Company 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.