PFG Advisors Has $6.01 Million Stake in Johnson & Johnson $JNJ

PFG Advisors raised its stake in Johnson & Johnson (NYSE:JNJ) by 10.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 39,351 shares of the company’s stock after purchasing an additional 3,777 shares during the quarter. PFG Advisors’ holdings in Johnson & Johnson were worth $6,011,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. GFG Capital LLC purchased a new stake in Johnson & Johnson in the 2nd quarter valued at $35,000. Stone House Investment Management LLC bought a new stake in shares of Johnson & Johnson in the 1st quarter worth $47,000. 1248 Management LLC purchased a new stake in shares of Johnson & Johnson in the first quarter valued at about $48,000. Harvest Fund Management Co. Ltd bought a new position in shares of Johnson & Johnson during the first quarter valued at about $52,000. Finally, Pandora Wealth Inc. bought a new position in shares of Johnson & Johnson during the first quarter valued at about $65,000. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on JNJ. The Goldman Sachs Group lifted their target price on shares of Johnson & Johnson from $186.00 to $212.00 and gave the stock a “buy” rating in a research report on Thursday, October 9th. Wells Fargo & Company set a $212.00 price objective on Johnson & Johnson and gave the company an “overweight” rating in a research note on Friday, October 3rd. Erste Group Bank raised Johnson & Johnson from a “hold” rating to a “buy” rating in a research report on Wednesday, July 23rd. Cowen reissued a “buy” rating on shares of Johnson & Johnson in a report on Tuesday, October 14th. Finally, Raymond James Financial lifted their price objective on shares of Johnson & Johnson from $174.00 to $209.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 15th. Three equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $199.05.

Insider Buying and Selling at Johnson & Johnson

In other news, EVP Jennifer L. Taubert sold 56,471 shares of the stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $177.81, for a total value of $10,041,108.51. Following the sale, the executive vice president directly owned 178,013 shares of the company’s stock, valued at approximately $31,652,491.53. This represents a 24.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.16% of the stock is currently owned by corporate insiders.

Johnson & Johnson Price Performance

Shares of NYSE:JNJ opened at $186.50 on Friday. The firm has a market capitalization of $449.34 billion, a PE ratio of 18.00, a P/E/G ratio of 2.19 and a beta of 0.38. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.50. The company has a 50-day moving average price of $184.25 and a two-hundred day moving average price of $168.70. Johnson & Johnson has a twelve month low of $140.68 and a twelve month high of $194.48.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings results on Wednesday, August 30th. The company reported $2.26 EPS for the quarter. The company had revenue of $24.02 billion for the quarter. Johnson & Johnson had a net margin of 27.26% and a return on equity of 32.73%. Equities analysts forecast that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 9th. Shareholders of record on Tuesday, November 25th will be issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend is Tuesday, November 25th. Johnson & Johnson’s payout ratio is presently 50.19%.

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.