Procyon Advisors LLC Has $6.56 Million Stake in Johnson & Johnson $JNJ

Procyon Advisors LLC lowered its stake in shares of Johnson & Johnson (NYSE:JNJ) by 25.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 31,703 shares of the company’s stock after selling 10,836 shares during the period. Procyon Advisors LLC’s holdings in Johnson & Johnson were worth $6,561,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of JNJ. Abich Financial Wealth Management LLC bought a new position in Johnson & Johnson during the 3rd quarter worth approximately $26,000. Evolution Wealth Management Inc. bought a new stake in Johnson & Johnson in the second quarter valued at approximately $27,000. Clayton Financial Group LLC bought a new stake in Johnson & Johnson in the third quarter valued at approximately $28,000. Semmax Financial Advisors Inc. raised its holdings in Johnson & Johnson by 55.0% in the second quarter. Semmax Financial Advisors Inc. now owns 203 shares of the company’s stock worth $31,000 after purchasing an additional 72 shares during the period. Finally, Turning Point Benefit Group Inc. bought a new position in shares of Johnson & Johnson during the third quarter worth $41,000. 69.55% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

JNJ has been the subject of a number of recent analyst reports. TD Cowen upped their price objective on shares of Johnson & Johnson from $222.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday, January 22nd. Citigroup lifted their target price on Johnson & Johnson from $250.00 to $274.00 and gave the stock a “buy” rating in a report on Wednesday, March 11th. Bank of America reissued a “neutral” rating on shares of Johnson & Johnson in a research note on Monday, March 2nd. UBS Group reaffirmed a “buy” rating on shares of Johnson & Johnson in a research report on Monday, January 5th. Finally, HSBC lifted their price objective on Johnson & Johnson from $265.00 to $280.00 and gave the company a “buy” rating in a report on Tuesday, March 17th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $236.91.

Johnson & Johnson Stock Performance

JNJ opened at $235.64 on Tuesday. The business’s 50-day moving average price is $235.73 and its two-hundred day moving average price is $209.21. Johnson & Johnson has a 1 year low of $141.50 and a 1 year high of $251.71. The company has a market capitalization of $567.57 billion, a price-to-earnings ratio of 21.33, a P/E/G ratio of 2.32 and a beta of 0.34. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.03 and a quick ratio of 0.77.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings data on Saturday, January 31st. The company reported $2.46 earnings per share for the quarter. The company had revenue of $24.28 billion during the quarter. Johnson & Johnson had a return on equity of 33.04% and a net margin of 28.46%. Equities analysts expect that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 24th were given a dividend of $1.30 per share. The ex-dividend date of this dividend was Tuesday, February 24th. This represents a $5.20 dividend on an annualized basis and a yield of 2.2%. Johnson & Johnson’s dividend payout ratio is 47.06%.

Insider Activity at Johnson & Johnson

In other news, EVP Vanessa Broadhurst sold 6,197 shares of the business’s stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $243.39, for a total value of $1,508,287.83. Following the sale, the executive vice president owned 23,003 shares of the company’s stock, valued at $5,598,700.17. The trade was a 21.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Timothy Schmid sold 22,623 shares of the firm’s stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $244.33, for a total transaction of $5,527,477.59. Following the completion of the transaction, the executive vice president directly owned 26,769 shares of the company’s stock, valued at approximately $6,540,469.77. This trade represents a 45.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 30,142 shares of company stock valued at $7,360,528 over the last ninety days. Company insiders own 0.16% of the company’s stock.

Johnson & Johnson Company Profile

Johnson & Johnson is a multinational healthcare company headquartered in New Brunswick, New Jersey, that develops, manufactures and markets a broad range of products across pharmaceuticals, medical devices and previously consumer health. Founded in 1886 by the Johnson family, the company has grown into a global healthcare organization with operations and sales in many countries around the world.

The company’s pharmaceuticals business, organized largely under its Janssen research and development organization, focuses on prescription medicines across therapeutic areas such as immunology, infectious disease, oncology and neuroscience.