Primoris Wealth Advisors LLC Has $1.91 Million Stake in Johnson & Johnson (NYSE:JNJ)

Primoris Wealth Advisors LLC boosted its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 0.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,035 shares of the company’s stock after purchasing an additional 76 shares during the period. Johnson & Johnson accounts for approximately 1.5% of Primoris Wealth Advisors LLC’s holdings, making the stock its 20th largest holding. Primoris Wealth Advisors LLC’s holdings in Johnson & Johnson were worth $1,905,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of JNJ. GUNN & Co INVESTMENT MANAGEMENT INC. increased its holdings in Johnson & Johnson by 1,194.9% during the 4th quarter. GUNN & Co INVESTMENT MANAGEMENT INC. now owns 237,273 shares of the company’s stock valued at $37,190,000 after purchasing an additional 218,949 shares in the last quarter. Gilbert & Cook Inc. increased its stake in shares of Johnson & Johnson by 3.3% in the 4th quarter. Gilbert & Cook Inc. now owns 9,111 shares of the company’s stock valued at $1,428,000 after buying an additional 288 shares during the period. Searle & CO. increased its stake in shares of Johnson & Johnson by 0.3% in the 4th quarter. Searle & CO. now owns 40,462 shares of the company’s stock valued at $6,342,000 after buying an additional 126 shares during the period. Buckhead Capital Management LLC increased its stake in shares of Johnson & Johnson by 5.0% in the 4th quarter. Buckhead Capital Management LLC now owns 46,182 shares of the company’s stock valued at $7,239,000 after buying an additional 2,183 shares during the period. Finally, Great Valley Advisor Group Inc. increased its stake in shares of Johnson & Johnson by 8.2% in the 4th quarter. Great Valley Advisor Group Inc. now owns 100,970 shares of the company’s stock valued at $15,827,000 after buying an additional 7,613 shares during the period. 69.55% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on JNJ shares. Daiwa Capital Markets cut Johnson & Johnson from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $160.00 to $150.00 in a research note on Tuesday, July 23rd. Royal Bank of Canada reissued an “outperform” rating and issued a $175.00 target price on shares of Johnson & Johnson in a research note on Tuesday, July 30th. StockNews.com raised Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 16th. Daiwa America cut Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. Finally, Morgan Stanley lifted their price objective on Johnson & Johnson from $167.00 to $169.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 18th. Seven investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Johnson & Johnson presently has a consensus rating of “Moderate Buy” and a consensus target price of $173.21.

Insider Activity

In other news, VP Robert J. Decker sold 5,635 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $165.06, for a total value of $930,113.10. Following the sale, the vice president now directly owns 18,973 shares in the company, valued at $3,131,683.38. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.16% of the company’s stock.

Johnson & Johnson Stock Performance

JNJ stock opened at $167.16 on Wednesday. The business’s 50-day moving average price is $156.42 and its two-hundred day moving average price is $153.60. 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 has a market cap of $402.30 billion, a PE ratio of 10.42, a P/E/G ratio of 2.73 and a beta of 0.52. Johnson & Johnson has a 1-year low of $143.13 and a 1-year high of $167.81.

Johnson & Johnson (NYSE:JNJ) last posted its earnings results on Wednesday, July 17th. The company reported $2.82 earnings per share for the quarter, topping the consensus estimate of $2.71 by $0.11. The firm had revenue of $22.45 billion for the quarter, compared to analyst estimates of $22.33 billion. Johnson & Johnson had a return on equity of 36.60% and a net margin of 46.34%. The company’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same period in the previous year, the company posted $2.80 earnings per share. As a group, research analysts forecast that Johnson & Johnson will post 10.02 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 27th will be issued a dividend of $1.24 per share. The ex-dividend date is Tuesday, August 27th. This represents a $4.96 annualized dividend and a yield of 2.97%. Johnson & Johnson’s dividend payout ratio is presently 30.92%.

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.