PCG Asset Management LLC Acquires New Stake in Johnson & Johnson (NYSE:JNJ)

PCG Asset Management LLC purchased a new position in shares of Johnson & Johnson (NYSE:JNJ) during the 4th quarter, Holdings Channel reports. The fund purchased 6,797 shares of the company’s stock, valued at approximately $983,000. Johnson & Johnson makes up approximately 0.9% of PCG Asset Management LLC’s investment portfolio, making the stock its 25th largest holding.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in JNJ. Wealth Group Ltd. bought a new stake in Johnson & Johnson during the 3rd quarter worth about $213,000. Swedbank AB lifted its position in Johnson & Johnson by 5.3% during the 3rd quarter. Swedbank AB now owns 2,215,108 shares of the company’s stock worth $358,980,000 after buying an additional 111,570 shares in the last quarter. Clear Creek Financial Management LLC increased its stake in shares of Johnson & Johnson by 20.1% during the 3rd quarter. Clear Creek Financial Management LLC now owns 6,106 shares of the company’s stock worth $990,000 after purchasing an additional 1,024 shares during the last quarter. Optas LLC increased its stake in shares of Johnson & Johnson by 11.4% during the 3rd quarter. Optas LLC now owns 5,779 shares of the company’s stock worth $937,000 after purchasing an additional 592 shares during the last quarter. Finally, Private Wealth Partners LLC increased its stake in shares of Johnson & Johnson by 5.6% during the 3rd quarter. Private Wealth Partners LLC now owns 80,427 shares of the company’s stock worth $13,034,000 after purchasing an additional 4,234 shares during the last quarter. 69.55% of the stock is owned by institutional investors.

Analysts Set New Price Targets

JNJ has been the topic of several recent analyst reports. Leerink Partners lowered their price objective on shares of Johnson & Johnson from $182.00 to $169.00 and set an “outperform” rating on the stock in a research note on Thursday, January 23rd. StockNews.com upgraded shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Saturday, January 25th. Argus upgraded shares of Johnson & Johnson to a “strong-buy” rating in a research note on Friday, January 24th. Wells Fargo & Company lowered their price objective on shares of Johnson & Johnson from $166.00 to $152.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 23rd. Finally, Bank of America lowered their price objective on shares of Johnson & Johnson from $160.00 to $159.00 and set a “neutral” rating on the stock in a research note on Thursday, January 23rd. Nine research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $170.67.

Johnson & Johnson Stock Performance

Shares of NYSE:JNJ opened at $167.08 on Tuesday. The company’s 50 day moving average price is $151.33 and its two-hundred day moving average price is $156.08. Johnson & Johnson has a 12-month low of $140.68 and a 12-month high of $168.85. The firm has a market cap of $402.26 billion, a PE ratio of 25.12, a PEG ratio of 2.56 and a beta of 0.52. The company has a quick ratio of 0.86, a current ratio of 1.11 and a debt-to-equity ratio of 0.43.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings results on Wednesday, January 22nd. The company reported $2.04 earnings per share for the quarter, topping analysts’ consensus estimates of $1.99 by $0.05. Johnson & Johnson had a net margin of 18.20% and a return on equity of 34.24%. The company had revenue of $22.52 billion during the quarter, compared to the consensus estimate of $22.44 billion. During the same quarter in the prior year, the firm posted $2.29 EPS. The firm’s quarterly revenue was up 5.3% on a year-over-year basis. Equities research analysts predict that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th will be issued a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a dividend yield of 2.97%. The ex-dividend date of this dividend is Tuesday, February 18th. Johnson & Johnson’s dividend payout ratio (DPR) is presently 74.59%.

Insider Transactions at Johnson & Johnson

In other news, Director Mark A. Weinberger purchased 1,000 shares of the business’s stock in a transaction dated Thursday, December 12th. The stock was bought at an average price of $147.22 per share, with a total value of $147,220.00. Following the acquisition, the director now owns 1,000 shares in the company, valued at approximately $147,220. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Robert J. Decker sold 6,999 shares of the stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $165.88, for a total transaction of $1,160,994.12. Following the completion of the transaction, the vice president now directly owns 21,001 shares of the company’s stock, valued at approximately $3,483,645.88. The trade was a 25.00 % decrease in their position. The disclosure for this sale can be found here. 0.16% of the stock is currently owned by insiders.

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.