Prio Wealth Limited Partnership Reduces Stock Holdings in Johnson & Johnson (NYSE:JNJ)

Prio Wealth Limited Partnership cut its holdings in Johnson & Johnson (NYSE:JNJ) by 11.7% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 307,388 shares of the company’s stock after selling 40,690 shares during the period. Johnson & Johnson comprises about 1.3% of Prio Wealth Limited Partnership’s holdings, making the stock its 20th largest position. Prio Wealth Limited Partnership’s holdings in Johnson & Johnson were worth $44,928,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in JNJ. Innealta Capital LLC purchased a new stake in shares of Johnson & Johnson in the second quarter valued at $27,000. Vermillion & White Wealth Management Group LLC purchased a new position in Johnson & Johnson in the 4th quarter valued at about $44,000. MFA Wealth Advisors LLC acquired a new stake in shares of Johnson & Johnson during the 2nd quarter worth about $43,000. Grayhawk Investment Strategies Inc. grew its holdings in shares of Johnson & Johnson by 528.6% during the fourth quarter. Grayhawk Investment Strategies Inc. now owns 308 shares of the company’s stock worth $48,000 after buying an additional 259 shares in the last quarter. Finally, Fairfield Financial Advisors LTD acquired a new position in shares of Johnson & Johnson in the second quarter valued at approximately $46,000. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

JNJ has been the subject of several analyst reports. StockNews.com upgraded Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 14th. Royal Bank of Canada reissued an “outperform” rating and issued a $175.00 price target on shares of Johnson & Johnson in a research note on Friday, September 20th. Sanford C. Bernstein upped their price objective on shares of Johnson & Johnson from $161.00 to $171.00 in a research note on Thursday, July 18th. The Goldman Sachs Group decreased their target price on shares of Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating on the stock in a research report on Friday, July 19th. Finally, Daiwa America downgraded shares of Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. Seven analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $173.21.

Insider Buying and Selling

In other news, VP Robert J. Decker sold 5,635 shares of the firm’s stock in a transaction dated Friday, August 30th. The stock was 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 in the company, valued at $3,131,683.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.16% of the stock is currently owned by insiders.

Johnson & Johnson Trading Down 0.0 %

NYSE:JNJ opened at $162.02 on Wednesday. The business’s 50-day moving average is $162.50 and its two-hundred day moving average is $154.21. The firm has a market capitalization of $389.93 billion, a PE ratio of 10.10, a price-to-earnings-growth ratio of 2.69 and a beta of 0.53. Johnson & Johnson has a 12 month low of $143.13 and a 12 month 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.

Johnson & Johnson (NYSE:JNJ) last announced its earnings results on Wednesday, July 17th. The company reported $2.82 EPS for the quarter, beating the consensus estimate of $2.71 by $0.11. The business had revenue of $22.45 billion for the quarter, compared to the consensus estimate 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 was up 4.3% on a year-over-year basis. During the same period last year, the business posted $2.80 EPS. Research analysts predict that Johnson & Johnson will post 10.02 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Tuesday, August 27th were issued a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date of this dividend was Tuesday, August 27th. Johnson & Johnson’s payout ratio is 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.