Alliance Wealth Advisors LLC Buys 761 Shares of Johnson & Johnson (NYSE:JNJ)

Alliance Wealth Advisors LLC grew its stake in shares of Johnson & Johnson (NYSE:JNJ) by 38.7% in the first quarter, Holdings Channel reports. The fund owned 2,725 shares of the company’s stock after acquiring an additional 761 shares during the quarter. Alliance Wealth Advisors LLC’s holdings in Johnson & Johnson were worth $452,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Butensky & Cohen Financial Security Inc. lifted its stake in Johnson & Johnson by 1.3% in the 1st quarter. Butensky & Cohen Financial Security Inc. now owns 27,981 shares of the company’s stock worth $4,640,000 after purchasing an additional 349 shares in the last quarter. Impact Capital Partners LLC raised its position in shares of Johnson & Johnson by 11.2% during the 1st quarter. Impact Capital Partners LLC now owns 23,573 shares of the company’s stock valued at $3,909,000 after buying an additional 2,380 shares in the last quarter. Constitution Capital LLC raised its position in shares of Johnson & Johnson by 14.4% during the 1st quarter. Constitution Capital LLC now owns 15,445 shares of the company’s stock valued at $2,561,000 after buying an additional 1,950 shares in the last quarter. Sovereign Financial Group Inc. raised its position in shares of Johnson & Johnson by 1.8% during the 1st quarter. Sovereign Financial Group Inc. now owns 3,928 shares of the company’s stock valued at $651,000 after buying an additional 69 shares in the last quarter. Finally, Ehrlich Financial Group purchased a new stake in shares of Johnson & Johnson during the 1st quarter valued at $200,000. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Leerink Partners cut shares of Johnson & Johnson from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $169.00 to $153.00 in a research report on Tuesday, May 13th. Bank of America decreased their target price on shares of Johnson & Johnson from $171.00 to $159.00 and set a “neutral” rating on the stock in a research report on Thursday, April 10th. Wall Street Zen cut shares of Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 22nd. Guggenheim reiterated a “neutral” rating on shares of Johnson & Johnson in a research report on Wednesday, April 2nd. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $181.00 target price on shares of Johnson & Johnson in a research report on Thursday. Eleven 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 MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $170.88.

Johnson & Johnson Trading Up 0.9%

Shares of NYSE JNJ opened at $155.02 on Friday. 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 firm’s 50 day moving average price is $153.59 and its 200-day moving average price is $153.68. Johnson & Johnson has a 52-week low of $140.68 and a 52-week high of $169.99. The company has a market cap of $372.99 billion, a PE ratio of 23.31, a P/E/G ratio of 2.56 and a beta of 0.42.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings data on Tuesday, April 15th. The company reported $2.77 earnings per share for the quarter, beating the consensus estimate of $2.59 by $0.18. Johnson & Johnson had a net margin of 18.20% and a return on equity of 34.24%. The firm had revenue of $21.89 billion during the quarter, compared to analysts’ expectations of $21.65 billion. On average, equities research analysts expect that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Tuesday, May 27th will be paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 3.35%. The ex-dividend date of this dividend is Tuesday, May 27th. This is a boost from Johnson & Johnson’s previous quarterly dividend of $1.24. Johnson & Johnson’s dividend payout ratio (DPR) is currently 57.84%.

Johnson & Johnson Company 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.