Procyon Advisors LLC Has $6.56 Million Stock Holdings in Johnson & Johnson $JNJ

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

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. AustralianSuper Pty Ltd raised its holdings in shares of Johnson & Johnson by 632.0% in the 3rd quarter. AustralianSuper Pty Ltd now owns 89,183 shares of the company’s stock valued at $16,536,000 after purchasing an additional 77,000 shares during the period. J.W. Cole Advisors Inc. grew its holdings in Johnson & Johnson by 2.2% during the third quarter. J.W. Cole Advisors Inc. now owns 130,934 shares of the company’s stock worth $24,278,000 after purchasing an additional 2,769 shares during the period. Guinness Asset Management LTD grew its holdings in Johnson & Johnson by 0.4% during the third quarter. Guinness Asset Management LTD now owns 1,383,195 shares of the company’s stock worth $251,216,000 after purchasing an additional 5,994 shares during the period. Treasurer of the State of North Carolina grew its holdings in Johnson & Johnson by 8.3% during the second quarter. Treasurer of the State of North Carolina now owns 1,234,945 shares of the company’s stock worth $188,638,000 after purchasing an additional 94,957 shares during the period. Finally, National Pension Service increased its position in Johnson & Johnson by 3.2% during the third quarter. National Pension Service now owns 4,926,569 shares of the company’s stock worth $913,484,000 after buying an additional 151,707 shares during the last quarter. Institutional investors own 69.55% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Loop Capital set a $220.00 price objective on Johnson & Johnson in a research report on Tuesday, January 27th. Guggenheim boosted their target price on Johnson & Johnson from $227.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, January 23rd. Citigroup raised their price target on Johnson & Johnson from $250.00 to $274.00 and gave the company a “buy” rating in a report on Wednesday, March 11th. UBS Group reissued a “buy” rating on shares of Johnson & Johnson in a research report on Monday, January 5th. Finally, Wolfe Research lifted their target price on shares of Johnson & Johnson from $225.00 to $240.00 and gave the stock an “outperform” rating in a report on Monday, January 5th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat, Johnson & Johnson currently has an average rating of “Moderate Buy” and a consensus target price of $236.91.

Johnson & Johnson Stock Performance

JNJ opened at $235.64 on Tuesday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.03 and a quick ratio of 0.77. The business has a fifty day simple moving average of $235.73 and a 200 day simple moving average of $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 PE ratio of 21.33, a price-to-earnings-growth ratio of 2.32 and a beta of 0.34.

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. Johnson & Johnson had a return on equity of 33.04% and a net margin of 28.46%.The firm had revenue of $24.28 billion for the quarter. Research analysts expect that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Dividend Announcement

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

Insider Activity

In other news, EVP Vanessa Broadhurst sold 6,197 shares of the firm’s stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $243.39, for a total transaction of $1,508,287.83. Following the transaction, the executive vice president directly owned 23,003 shares of the company’s stock, valued at approximately $5,598,700.17. This trade represents a 21.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Timothy Schmid sold 1,322 shares of Johnson & Johnson stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $245.66, for a total transaction of $324,762.52. Following the completion of the sale, the executive vice president owned 25,447 shares of the company’s stock, valued at approximately $6,251,310.02. The trade was a 4.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 30,142 shares of company stock valued at $7,360,528 in the last quarter. Corporate insiders own 0.16% of the company’s stock.

About Johnson & Johnson

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.