Prio Wealth Limited Partnership Reduces Holdings in Johnson & Johnson (NYSE:JNJ)

Prio Wealth Limited Partnership lessened its position in shares of Johnson & Johnson (NYSE:JNJ) by 0.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 255,708 shares of the company’s stock after selling 1,654 shares during the period. Johnson & Johnson accounts for 1.6% of Prio Wealth Limited Partnership’s investment portfolio, making the stock its 21st largest position. Prio Wealth Limited Partnership’s holdings in Johnson & Johnson were worth $35,614,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of JNJ. Evolution Wealth Advisors LLC purchased a new position in shares of Johnson & Johnson during the 4th quarter valued at $40,000. Horan Securities Inc. lifted its position in shares of Johnson & Johnson by 122.3% during the 4th quarter. Horan Securities Inc. now owns 438 shares of the company’s stock valued at $56,000 after buying an additional 241 shares during the last quarter. FNY Investment Advisers LLC lifted its position in shares of Johnson & Johnson by 594.4% during the 4th quarter. FNY Investment Advisers LLC now owns 500 shares of the company’s stock valued at $64,000 after buying an additional 428 shares during the last quarter. Thor Advisors LLC purchased a new position in shares of Johnson & Johnson during the 1st quarter valued at $69,000. Finally, CKW Financial Group lifted its position in shares of Johnson & Johnson by 18.8% during the 4th quarter. CKW Financial Group now owns 810 shares of the company’s stock valued at $105,000 after buying an additional 128 shares during the last quarter. 66.78% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE:JNJ traded up $0.78 during midday trading on Friday, reaching $131.07. 6,573,218 shares of the company traded hands, compared to its average volume of 7,695,500. The company has a quick ratio of 1.13, a current ratio of 1.33 and a debt-to-equity ratio of 0.46. Johnson & Johnson has a 12 month low of $121.00 and a 12 month high of $148.99. The company has a market capitalization of $343.86 billion, a price-to-earnings ratio of 16.02, a price-to-earnings-growth ratio of 2.20 and a beta of 0.69. The business’s fifty day moving average price is $136.70.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings data on Tuesday, July 16th. The company reported $2.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.42 by $0.16. Johnson & Johnson had a return on equity of 38.63% and a net margin of 20.08%. The company had revenue of $20.56 billion for the quarter, compared to analyst estimates of $20.39 billion. During the same period in the previous year, the company posted $2.10 EPS. The firm’s revenue for the quarter was down 1.3% compared to the same quarter last year. As a group, equities analysts anticipate that Johnson & Johnson will post 8.6 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Tuesday, August 27th will be paid a dividend of $0.95 per share. The ex-dividend date is Monday, August 26th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.90%. Johnson & Johnson’s payout ratio is 46.45%.

In related news, Director Marillyn A. Hewson acquired 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The shares were bought at an average cost of $139.68 per share, for a total transaction of $419,040.00. Following the purchase, the director now owns 3,000 shares in the company, valued at approximately $419,040. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.23% of the company’s stock.

A number of research analysts have recently commented on the company. Bank of America reaffirmed a “hold” rating and set a $150.00 price target on shares of Johnson & Johnson in a research report on Tuesday, July 16th. BMO Capital Markets upped their price target on Johnson & Johnson from $154.00 to $157.00 and gave the company an “outperform” rating in a research report on Wednesday, April 17th. Raymond James dropped their price target on Johnson & Johnson from $147.00 to $146.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 17th. Credit Suisse Group set a $156.00 price target on Johnson & Johnson and gave the company a “buy” rating in a research report on Thursday, July 18th. Finally, Barclays initiated coverage on Johnson & Johnson in a research report on Friday, June 21st. They set a “hold” rating and a $140.00 price target on the stock. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $148.56.

Johnson & Johnson Company Profile

Johnson & Johnson, together with its subsidiaries, researches and develops, manufactures, and sells various products in the health care field worldwide. It operates in three segments: Consumer, Pharmaceutical, and Medical Devices. The Consumer segment offers baby care products under the JOHNSON'S brand; oral care products under the LISTERINE brand; beauty products under the AVEENO, CLEAN & CLEAR, DABAO, JOHNSON'S Adult, LE PETITE MARSEILLAIS, NEUTROGENA, and OGX brands; over-the-counter medicines, including acetaminophen products under the TYLENOL brand; cold, flu, and allergy products under the SUDAFED brand; allergy products under the BENADRYL and ZYRTEC brands; ibuprofen products under the MOTRIN IB brand; and acid reflux products under the PEPCID brand.

Further Reading: Consumer behavior in bull markets

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Institutional Ownership by Quarter for Johnson & Johnson (NYSE:JNJ)

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