6,368 Shares in Johnson & Johnson (NYSE:JNJ) Purchased by PVG Asset Management Corp

PVG Asset Management Corp bought a new position in Johnson & Johnson (NYSE:JNJ) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 6,368 shares of the company’s stock, valued at approximately $931,000. Johnson & Johnson comprises approximately 3.7% of PVG Asset Management Corp’s portfolio, making the stock its 8th biggest holding.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Innealta Capital LLC bought a new stake in Johnson & Johnson during the second quarter valued at approximately $27,000. Vermillion & White Wealth Management Group LLC purchased a new stake in shares of Johnson & Johnson during the 4th quarter valued at $44,000. MFA Wealth Advisors LLC purchased a new position in Johnson & Johnson in the second quarter worth $43,000. Grayhawk Investment Strategies Inc. increased its stake in Johnson & Johnson by 528.6% in the fourth quarter. Grayhawk Investment Strategies Inc. now owns 308 shares of the company’s stock valued at $48,000 after acquiring an additional 259 shares during the last quarter. Finally, Fairfield Financial Advisors LTD purchased a new stake in Johnson & Johnson during the second quarter valued at about $46,000. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Daiwa America lowered Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $175.00 target price on shares of Johnson & Johnson in a report on Friday, September 20th. 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. Sanford C. Bernstein raised their price objective on Johnson & Johnson from $161.00 to $171.00 in a research note on Thursday, July 18th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $215.00 target price on shares of Johnson & Johnson in a research note on Monday. Seven research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $173.21.

Johnson & Johnson Price Performance

Shares of Johnson & Johnson stock opened at $162.02 on Tuesday. The business has a 50 day moving average of $162.30 and a 200 day moving average of $154.18. Johnson & Johnson has a 52 week low of $143.13 and a 52 week high of $168.85. The company has a market cap of $389.93 billion, a PE ratio of 10.10, a P/E/G ratio of 2.69 and a beta of 0.53. The company has a quick ratio of 0.85, a current ratio of 1.07 and a debt-to-equity ratio of 0.44.

Johnson & Johnson (NYSE:JNJ) last posted its earnings results on Wednesday, July 17th. The company reported $2.82 EPS for the quarter, topping the consensus estimate of $2.71 by $0.11. Johnson & Johnson had a net margin of 46.34% and a return on equity of 36.60%. The firm had revenue of $22.45 billion during the quarter, compared to analysts’ expectations of $22.33 billion. During the same period last year, the company posted $2.80 EPS. The company’s quarterly revenue was up 4.3% compared to the same quarter last year. As a group, equities research analysts forecast that Johnson & Johnson will post 10.02 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 27th were given a $1.24 dividend. This represents a $4.96 annualized dividend and a dividend yield of 3.06%. The ex-dividend date of this dividend was Tuesday, August 27th. Johnson & Johnson’s dividend payout ratio is currently 30.92%.

Insider Activity

In other Johnson & Johnson news, VP Robert J. Decker sold 5,635 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $165.06, for a total value of $930,113.10. Following the completion of the transaction, the vice president now owns 18,973 shares in the company, valued at $3,131,683.38. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.16% of the stock is currently owned by company insiders.

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.