Johnson & Johnson (NYSE:JNJ) Shares Purchased by Prosperity Financial Group Inc.

Prosperity Financial Group Inc. boosted its position in shares of Johnson & Johnson (NYSE:JNJ) by 4.6% during the third quarter, Holdings Channel.com reports. The firm owned 4,418 shares of the company’s stock after buying an additional 195 shares during the quarter. Prosperity Financial Group Inc.’s holdings in Johnson & Johnson were worth $716,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in JNJ. Innealta Capital LLC acquired a new position in Johnson & Johnson during the second quarter worth $27,000. Highline Wealth Partners LLC purchased a new position in Johnson & Johnson during the 3rd quarter valued at about $31,000. Mowery & Schoenfeld Wealth Management LLC grew its position in Johnson & Johnson by 58.7% in the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 246 shares of the company’s stock valued at $40,000 after acquiring an additional 91 shares in the last quarter. Activest Wealth Management purchased a new stake in Johnson & Johnson during the third quarter worth about $40,000. Finally, Morton Brown Family Wealth LLC boosted its stake in shares of Johnson & Johnson by 400.0% in the third quarter. Morton Brown Family Wealth LLC now owns 250 shares of the company’s stock valued at $41,000 after purchasing an additional 200 shares during the period. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Insider Transactions at Johnson & Johnson

In other Johnson & Johnson news, VP Robert J. Decker sold 5,635 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $165.06, for a total transaction of $930,113.10. Following the completion of the sale, the vice president now directly owns 18,973 shares in the company, valued at $3,131,683.38. The trade was a 22.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.16% of the company’s stock.

Johnson & Johnson Trading Down 0.2 %

Shares of JNJ stock opened at $155.17 on Monday. Johnson & Johnson has a twelve month low of $143.13 and a twelve month high of $168.85. The company has a market capitalization of $373.59 billion, a price-to-earnings ratio of 22.46, a PEG ratio of 2.76 and a beta of 0.53. The firm has a 50-day moving average price of $160.21 and a 200 day moving average price of $156.32. The company has a current ratio of 1.03, a quick ratio of 0.79 and a debt-to-equity ratio of 0.45.

Johnson & Johnson (NYSE:JNJ) last announced its earnings results on Tuesday, October 15th. The company reported $2.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.21 by $0.21. Johnson & Johnson had a net margin of 19.14% and a return on equity of 35.45%. The firm had revenue of $22.47 billion for the quarter, compared to analyst estimates of $22.17 billion. During the same quarter last year, the business earned $2.66 earnings per share. Johnson & Johnson’s revenue was up 5.2% compared to the same quarter last year. Research analysts forecast that Johnson & Johnson will post 9.93 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 26th will be paid a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a yield of 3.20%. The ex-dividend date is Tuesday, November 26th. Johnson & Johnson’s payout ratio is 71.78%.

Analysts Set New Price Targets

JNJ has been the subject of several recent research reports. Morgan Stanley raised their price target on shares of Johnson & Johnson from $169.00 to $175.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. Cantor Fitzgerald restated an “overweight” rating and set a $215.00 price target on shares of Johnson & Johnson in a report on Wednesday, October 16th. Citigroup lifted their price objective on Johnson & Johnson from $180.00 to $185.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Wells Fargo & Company lifted their price objective on shares of Johnson & Johnson from $163.00 to $166.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. Finally, Royal Bank of Canada boosted their target price on Johnson & Johnson from $178.00 to $181.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Seven equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $175.94.

Johnson & Johnson Company Profile

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.