Powers Advisory Group LLC Raises Position in Johnson & Johnson (NYSE:JNJ)

Powers Advisory Group LLC grew its position in Johnson & Johnson (NYSE:JNJ) by 1.7% during the 1st quarter, Holdings Channel reports. The fund owned 9,755 shares of the company’s stock after buying an additional 164 shares during the quarter. Johnson & Johnson comprises about 0.8% of Powers Advisory Group LLC’s holdings, making the stock its 24th biggest position. Powers Advisory Group LLC’s holdings in Johnson & Johnson were worth $1,618,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. WealthTrak Capital Management LLC purchased a new stake in Johnson & Johnson during the fourth quarter worth about $26,000. Mountain Hill Investment Partners Corp. purchased a new stake in Johnson & Johnson during the fourth quarter worth about $29,000. Conquis Financial LLC purchased a new stake in Johnson & Johnson during the fourth quarter worth about $33,000. Bernard Wealth Management Corp. purchased a new stake in Johnson & Johnson during the fourth quarter worth about $36,000. Finally, Runnymede Capital Advisors Inc. purchased a new stake in shares of Johnson & Johnson in the fourth quarter valued at about $38,000. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Wall Street Analyst Weigh In

JNJ has been the topic of several recent research reports. Benchmark raised shares of Johnson & Johnson to a “strong-buy” rating in a report on Thursday, April 24th. Wall Street Zen downgraded shares of Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 22nd. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Johnson & Johnson in a report on Wednesday, April 16th. Raymond James reduced their price target on shares of Johnson & Johnson from $165.00 to $162.00 and set an “outperform” rating on the stock in a report on Monday, April 14th. Finally, Leerink Partnrs downgraded shares of Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 13th. Eleven research 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’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $170.88.

Johnson & Johnson Stock Performance

Shares of JNJ stock opened at $156.90 on Friday. Johnson & Johnson has a one year low of $140.68 and a one year high of $169.99. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.86 and a current ratio of 1.11. The company has a 50 day moving average price of $153.84 and a 200 day moving average price of $153.72. The firm has a market capitalization of $377.52 billion, a price-to-earnings ratio of 23.59, a price-to-earnings-growth ratio of 2.56 and a beta of 0.42.

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

Johnson & Johnson Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Tuesday, May 27th were given a dividend of $1.30 per share. This is a positive change from Johnson & Johnson’s previous quarterly dividend of $1.24. The ex-dividend date of this dividend was Tuesday, May 27th. This represents a $5.20 annualized dividend and a yield of 3.31%. Johnson & Johnson’s dividend payout ratio 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.