Patrick M Sweeney & Associates Inc. Acquires 221 Shares of Johnson & Johnson (NYSE:JNJ)

Patrick M Sweeney & Associates Inc. boosted its holdings in Johnson & Johnson (NYSE:JNJ) by 2.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,884 shares of the company’s stock after acquiring an additional 221 shares during the period. Johnson & Johnson accounts for 1.0% of Patrick M Sweeney & Associates Inc.’s holdings, making the stock its 18th biggest position. Patrick M Sweeney & Associates Inc.’s holdings in Johnson & Johnson were worth $1,291,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in JNJ. Mayar Capital Ltd. increased its stake in shares of Johnson & Johnson by 9.4% during the second quarter. Mayar Capital Ltd. now owns 74,693 shares of the company’s stock worth $10,917,000 after purchasing an additional 6,391 shares during the period. Forza Wealth Management LLC increased its position in Johnson & Johnson by 0.8% during the second quarter. Forza Wealth Management LLC now owns 8,742 shares of the company’s stock worth $1,278,000 after acquiring an additional 66 shares during the period. James J. Burns & Company LLC raised its stake in Johnson & Johnson by 401.4% in the 2nd quarter. James J. Burns & Company LLC now owns 8,022 shares of the company’s stock worth $1,173,000 after purchasing an additional 6,422 shares in the last quarter. Phoenix Wealth Advisors grew its position in shares of Johnson & Johnson by 4.1% during the 2nd quarter. Phoenix Wealth Advisors now owns 22,120 shares of the company’s stock worth $3,233,000 after purchasing an additional 862 shares in the last quarter. Finally, SteelPeak Wealth LLC increased its holdings in shares of Johnson & Johnson by 21.6% during the second quarter. SteelPeak Wealth LLC now owns 71,027 shares of the company’s stock worth $10,381,000 after purchasing an additional 12,618 shares during the period. 69.55% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. The Goldman Sachs Group reduced their price target on Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating on the stock in a research report on Friday, July 19th. Bank of America dropped their price target on Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating for the company in a research note on Wednesday, April 17th. Cantor Fitzgerald reissued an “overweight” rating and issued a $215.00 target price on shares of Johnson & Johnson in a report on Monday, August 5th. TD Cowen cut their price target on shares of Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating for the company in a report on Thursday, July 18th. Finally, Sanford C. Bernstein boosted their price objective on shares of Johnson & Johnson from $161.00 to $171.00 in a research report on Thursday, July 18th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $173.21.

Johnson & Johnson Trading Up 0.4 %

JNJ traded up $0.62 during trading on Thursday, reaching $159.10. 7,237,481 shares of the company’s stock were exchanged, compared to its average volume of 7,355,802. The firm has a fifty day moving average price of $151.88 and a two-hundred day moving average price of $153.10. The stock has a market capitalization of $382.90 billion, a PE ratio of 9.90, a price-to-earnings-growth ratio of 2.63 and a beta of 0.52. Johnson & Johnson has a one year low of $143.13 and a one year high of $175.39. The company has a current ratio of 1.07, a quick ratio of 0.85 and a debt-to-equity ratio of 0.44.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings data on Wednesday, July 17th. The company reported $2.82 earnings per share for the quarter, beating analysts’ consensus estimates of $2.71 by $0.11. Johnson & Johnson had a return on equity of 36.60% and a net margin of 46.34%. The business had revenue of $22.45 billion during the quarter, compared to the consensus estimate of $22.33 billion. During the same period in the prior year, the business posted $2.80 earnings per share. Johnson & Johnson’s quarterly revenue was up 4.3% on a year-over-year basis. As a group, equities research analysts forecast that Johnson & Johnson will post 10.07 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 27th will be given a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a yield of 3.12%. The ex-dividend date is Tuesday, August 27th. Johnson & Johnson’s dividend payout ratio is presently 30.92%.

About Johnson & Johnson

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.