Precedent Wealth Partners LLC Grows Stock Position in Johnson & Johnson (NYSE:JNJ)

Precedent Wealth Partners LLC raised its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 23.8% in the 1st quarter, HoldingsChannel.com reports. The fund owned 9,560 shares of the company’s stock after purchasing an additional 1,836 shares during the period. Precedent Wealth Partners LLC’s holdings in Johnson & Johnson were worth $1,585,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Lantz Financial LLC increased its position in Johnson & Johnson by 3.3% during the first quarter. Lantz Financial LLC now owns 11,974 shares of the company’s stock worth $1,986,000 after buying an additional 377 shares in the last quarter. Sulzberger Capital Advisors Inc. acquired a new stake in shares of Johnson & Johnson during the fourth quarter valued at $453,000. Horan Securities Inc. raised its stake in Johnson & Johnson by 1.3% in the 4th quarter. Horan Securities Inc. now owns 7,178 shares of the company’s stock valued at $1,038,000 after purchasing an additional 90 shares during the last quarter. Strategic Financial Concepts LLC lifted its holdings in Johnson & Johnson by 57.9% in the 4th quarter. Strategic Financial Concepts LLC now owns 3,467 shares of the company’s stock valued at $501,000 after purchasing an additional 1,271 shares in the last quarter. Finally, State of Wyoming lifted its holdings in Johnson & Johnson by 205,580.0% in the 4th quarter. State of Wyoming now owns 10,284 shares of the company’s stock valued at $1,487,000 after purchasing an additional 10,279 shares in the last quarter. Institutional investors and hedge funds own 69.55% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on JNJ shares. Leerink Partners lowered shares of Johnson & Johnson from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $169.00 to $153.00 in a research report on Tuesday, May 13th. Bank of America cut their price target on Johnson & Johnson from $171.00 to $159.00 and set a “neutral” rating for the company in a report on Thursday, April 10th. Leerink Partnrs cut Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 13th. Guggenheim reiterated a “neutral” rating on shares of Johnson & Johnson in a research note on Wednesday, April 2nd. Finally, Barclays decreased their price target on Johnson & Johnson from $166.00 to $165.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 17th. Eleven investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $170.88.

Johnson & Johnson Stock Down 1.2%

JNJ opened at $155.24 on Tuesday. Johnson & Johnson has a 1 year low of $140.68 and a 1 year high of $169.99. The firm has a 50 day moving average price of $153.96 and a 200 day moving average price of $153.70. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.86 and a current ratio of 1.11. The company has a market cap of $373.52 billion, a PE ratio of 23.34, a price-to-earnings-growth ratio of 2.56 and a beta of 0.42.

Johnson & Johnson (NYSE:JNJ) last issued its earnings results on Tuesday, April 15th. The company reported $2.77 EPS for the quarter, beating analysts’ consensus estimates of $2.59 by $0.18. The business had revenue of $21.89 billion for the quarter, compared to the consensus estimate of $21.65 billion. Johnson & Johnson had a net margin of 18.20% and a return on equity of 34.24%. Sell-side analysts expect that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Tuesday, May 27th were given a $1.30 dividend. This is an increase from Johnson & Johnson’s previous quarterly dividend of $1.24. The ex-dividend date of this dividend was Tuesday, May 27th. This represents a $5.20 annualized dividend and a dividend yield of 3.35%. Johnson & Johnson’s dividend payout ratio is presently 57.84%.

Johnson & Johnson Profile

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.