Patrick M Sweeney & Associates Inc. Raises Stake in Johnson & Johnson (NYSE:JNJ)

Patrick M Sweeney & Associates Inc. raised its position in Johnson & Johnson (NYSE:JNJ) by 1.2% during the third quarter, HoldingsChannel reports. The firm owned 8,987 shares of the company’s stock after buying an additional 103 shares during the quarter. Johnson & Johnson accounts for 1.1% of Patrick M Sweeney & Associates Inc.’s holdings, making the stock its 19th biggest position. Patrick M Sweeney & Associates Inc.’s holdings in Johnson & Johnson were worth $1,456,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Summit Wealth Partners LLC raised its holdings in Johnson & Johnson by 0.6% during the second quarter. Summit Wealth Partners LLC now owns 10,007 shares of the company’s stock worth $1,463,000 after purchasing an additional 61 shares in the last quarter. Powers Advisory Group LLC raised its stake in shares of Johnson & Johnson by 0.6% during the 3rd quarter. Powers Advisory Group LLC now owns 9,489 shares of the company’s stock worth $1,538,000 after buying an additional 61 shares in the last quarter. Citizens & Northern Corp lifted 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 buying an additional 63 shares during the period. Eagle Wealth Strategies LLC grew its holdings in Johnson & Johnson by 2.8% during the third quarter. Eagle Wealth Strategies LLC now owns 2,294 shares of the company’s stock worth $372,000 after acquiring an additional 63 shares during the period. Finally, Epic Trust Investment Advisors LLC raised its position in Johnson & Johnson by 3.6% in the second quarter. Epic Trust Investment Advisors LLC now owns 1,831 shares of the company’s stock worth $268,000 after acquiring an additional 64 shares in the last quarter. 69.55% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on JNJ. TD Securities lowered their price target on shares of Johnson & Johnson from $195.00 to $185.00 in a research note on Thursday, July 18th. Daiwa America lowered shares of Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. Citigroup lifted their price target 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 upped their price target on Johnson & Johnson from $163.00 to $166.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. Finally, Daiwa Capital Markets cut Johnson & Johnson from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $160.00 to $150.00 in a report on Tuesday, July 23rd. Six analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $175.93.

Johnson & Johnson Price Performance

Johnson & Johnson stock opened at $163.67 on Friday. The stock has a market capitalization of $393.90 billion, a P/E ratio of 10.20, a P/E/G ratio of 2.65 and a beta of 0.52. 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. The firm’s 50-day moving average is $163.29 and its two-hundred day moving average is $154.92.

Johnson & Johnson (NYSE:JNJ) last announced its earnings results on Tuesday, October 15th. The company reported $2.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.21 by $0.21. The firm had revenue of $22.47 billion for the quarter, compared to analyst estimates of $22.17 billion. Johnson & Johnson had a net margin of 46.34% and a return on equity of 36.60%. Johnson & Johnson’s revenue was up 5.2% compared to the same quarter last year. During the same quarter last year, the business earned $2.66 earnings per share. Equities analysts predict that Johnson & Johnson will post 10 earnings per share for the current year.

Johnson & Johnson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 26th will be paid a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a yield of 3.03%. The ex-dividend date of this dividend is Tuesday, November 26th. Johnson & Johnson’s payout ratio is 30.92%.

Insider Buying and Selling at Johnson & Johnson

In related news, VP Robert J. Decker sold 5,635 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $165.06, for a total value of $930,113.10. Following the completion of the sale, the vice president now directly owns 18,973 shares in the company, valued at approximately $3,131,683.38. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.16% of the stock is owned by company insiders.

About Johnson & Johnson

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.