Prestige Wealth Management Group LLC Reduces Stake in Johnson & Johnson (NYSE:JNJ)

Prestige Wealth Management Group LLC lessened its stake in shares of Johnson & Johnson (NYSE:JNJ) by 6.0% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 26,491 shares of the company’s stock after selling 1,703 shares during the period. Johnson & Johnson accounts for approximately 0.8% of Prestige Wealth Management Group LLC’s portfolio, making the stock its 25th biggest position. Prestige Wealth Management Group LLC’s holdings in Johnson & Johnson were worth $3,872,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of JNJ. Citizens & Northern Corp raised its holdings in shares of 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 in the last quarter. Carolinas Wealth Consulting LLC raised its stake in Johnson & Johnson by 0.4% in the fourth quarter. Carolinas Wealth Consulting LLC now owns 16,861 shares of the company’s stock valued at $2,643,000 after buying an additional 64 shares in the last quarter. Epic Trust Investment Advisors LLC lifted its holdings in Johnson & Johnson by 3.6% during the 2nd quarter. Epic Trust Investment Advisors LLC now owns 1,831 shares of the company’s stock worth $268,000 after buying an additional 64 shares during the last quarter. Verity Asset Management Inc. increased its holdings in shares of Johnson & Johnson by 2.0% in the 4th quarter. Verity Asset Management Inc. now owns 3,268 shares of the company’s stock valued at $512,000 after acquiring an additional 65 shares during the last quarter. Finally, Outfitter Financial LLC raised its position in shares of Johnson & Johnson by 0.4% during the 2nd quarter. Outfitter Financial LLC now owns 16,632 shares of the company’s stock worth $2,431,000 after acquiring an additional 65 shares in the last quarter. Institutional investors and hedge funds own 69.55% of the company’s stock.

Insider Activity

In other Johnson & Johnson news, VP Robert J. Decker sold 5,635 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $165.06, for a total value of $930,113.10. Following the completion of the transaction, the vice president now owns 18,973 shares in the company, valued at $3,131,683.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.16% of the company’s stock.

Johnson & Johnson Price Performance

Shares of NYSE JNJ opened at $166.61 on Tuesday. The stock has a fifty day moving average price of $157.98 and a 200 day moving average price of $153.81. Johnson & Johnson has a 1-year low of $143.13 and a 1-year high of $168.85. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.07 and a quick ratio of 0.85. The company has a market cap of $401.07 billion, a PE ratio of 10.39, a P/E/G ratio of 2.71 and a beta of 0.53.

Johnson & Johnson (NYSE:JNJ) last released its earnings results on Wednesday, July 17th. The company reported $2.82 EPS for the quarter, topping the consensus estimate of $2.71 by $0.11. Johnson & Johnson had a net margin of 46.34% and a return on equity of 36.60%. The company had revenue of $22.45 billion during the quarter, compared to analysts’ expectations of $22.33 billion. During the same quarter last year, the business earned $2.80 EPS. The business’s revenue was up 4.3% on a year-over-year basis. Sell-side analysts forecast that Johnson & Johnson will post 10.02 EPS for the current year.

Johnson & Johnson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 27th will be paid a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date of this dividend is Tuesday, August 27th. Johnson & Johnson’s dividend payout ratio (DPR) is 30.92%.

Analyst Upgrades and Downgrades

Several brokerages have commented on JNJ. Sanford C. Bernstein increased their price target on shares of Johnson & Johnson from $161.00 to $171.00 in a research note on Thursday, July 18th. The Goldman Sachs Group cut their price target on shares of Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating on the stock in a research note on Friday, July 19th. TD Securities dropped their price objective on Johnson & Johnson from $195.00 to $185.00 in a report on Thursday, July 18th. Daiwa Capital Markets downgraded Johnson & Johnson from an “outperform” rating to a “neutral” rating and reduced their target price for the company from $160.00 to $150.00 in a report on Tuesday, July 23rd. Finally, Daiwa America downgraded Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Johnson & Johnson presently has an average rating of “Moderate Buy” and a consensus 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.