Procyon Advisors LLC Raises Holdings in Johnson & Johnson (NYSE:JNJ)

Procyon Advisors LLC boosted its stake in shares of Johnson & Johnson (NYSE:JNJ) by 14.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 62,994 shares of the company’s stock after acquiring an additional 8,048 shares during the quarter. Procyon Advisors LLC’s holdings in Johnson & Johnson were worth $10,300,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of JNJ. WealthTrak Capital Management LLC bought a new stake in shares of Johnson & Johnson in the 4th quarter worth approximately $26,000. Mountain Hill Investment Partners Corp. bought a new stake in shares of Johnson & Johnson in the 4th quarter worth approximately $29,000. Bay Harbor Wealth Management LLC bought a new stake in shares of Johnson & Johnson in the 4th quarter worth approximately $32,000. Conquis Financial LLC bought a new stake in shares of Johnson & Johnson in the 4th quarter worth approximately $33,000. Finally, Bernard Wealth Management Corp. purchased a new position in shares of Johnson & Johnson in the 4th quarter valued at approximately $36,000. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on JNJ. Royal Bank of Canada restated an “outperform” rating and issued a $181.00 target price on shares of Johnson & Johnson in a research note on Thursday. Leerink Partners cut Johnson & Johnson from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $169.00 to $153.00 in a research note on Tuesday, May 13th. Bank of America lowered their target price on Johnson & Johnson from $171.00 to $159.00 and set a “neutral” rating for the company in a research note on Thursday, April 10th. Raymond James lowered their target price on Johnson & Johnson from $165.00 to $162.00 and set an “outperform” rating for the company in a research note on Monday, April 14th. Finally, Guggenheim restated a “neutral” rating on shares of Johnson & Johnson in a research note on Wednesday, April 2nd. Eleven investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Johnson & Johnson has an average rating of “Moderate Buy” and a consensus target price of $170.88.

Johnson & Johnson Stock Up 0.9%

Johnson & Johnson stock opened at $155.02 on Friday. The firm has a market cap of $372.99 billion, a price-to-earnings ratio of 23.31, a PEG ratio of 2.56 and a beta of 0.42. The stock has a fifty day simple moving average of $153.59 and a two-hundred day simple moving average of $153.68. Johnson & Johnson has a 12 month low of $140.68 and a 12 month high of $169.99. The company has a current ratio of 1.11, a quick ratio of 0.86 and a debt-to-equity ratio of 0.43.

Johnson & Johnson (NYSE:JNJ) last posted its earnings results on Tuesday, April 15th. The company reported $2.77 EPS for the quarter, topping analysts’ consensus estimates of $2.59 by $0.18. The business had revenue of $21.89 billion during the quarter, compared to analyst estimates of $21.65 billion. Johnson & Johnson had a return on equity of 34.24% and a net margin of 18.20%. Equities analysts predict that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Increases Dividend

The company 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 $1.30 dividend. This is an increase from Johnson & Johnson’s previous quarterly dividend of $1.24. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date of this dividend is Tuesday, May 27th. Johnson & Johnson’s dividend payout ratio (DPR) is 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.