Providence Capital Advisors LLC Sells 37,800 Shares of Johnson & Johnson (NYSE:JNJ)

Providence Capital Advisors LLC trimmed its stake in Johnson & Johnson (NYSE:JNJ) by 92.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,109 shares of the company’s stock after selling 37,800 shares during the period. Providence Capital Advisors LLC’s holdings in Johnson & Johnson were worth $504,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Meridian Financial Partners LLC bought a new position in shares of Johnson & Johnson in the second quarter worth approximately $1,626,000. Meridian Investment Counsel Inc. grew its position in Johnson & Johnson by 19.6% during the third quarter. Meridian Investment Counsel Inc. now owns 22,629 shares of the company’s stock valued at $3,667,000 after acquiring an additional 3,710 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Johnson & Johnson by 0.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 17,639,368 shares of the company’s stock valued at $2,858,543,000 after acquiring an additional 102,502 shares during the last quarter. Sheaff Brock Investment Advisors LLC grew its position in Johnson & Johnson by 137.2% during the third quarter. Sheaff Brock Investment Advisors LLC now owns 43,568 shares of the company’s stock valued at $7,061,000 after acquiring an additional 25,203 shares during the last quarter. Finally, Lmcg Investments LLC grew its position in Johnson & Johnson by 32.7% during the third quarter. Lmcg Investments LLC now owns 87,162 shares of the company’s stock valued at $14,125,000 after acquiring an additional 21,471 shares during the last quarter. 69.55% of the stock is currently owned by institutional investors.

Insider Transactions at Johnson & Johnson

In related news, VP Robert J. Decker sold 5,635 shares of Johnson & Johnson stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $165.06, for a total value of $930,113.10. Following the completion of the sale, the vice president now directly owns 18,973 shares in the company, valued at approximately $3,131,683.38. This trade represents a 22.90 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.16% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Morgan Stanley increased 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. Citigroup increased their price target on shares of Johnson & Johnson from $180.00 to $185.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Wolfe Research initiated coverage on shares of Johnson & Johnson in a research report on Friday, November 15th. They set an “outperform” rating and a $190.00 price target on the stock. Royal Bank of Canada raised their target price on shares of Johnson & Johnson from $178.00 to $181.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $215.00 target price on shares of Johnson & Johnson in a report on Wednesday, October 16th. Seven investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Johnson & Johnson currently has a consensus rating of “Moderate Buy” and an average target price of $175.94.

Johnson & Johnson Stock Performance

Shares of Johnson & Johnson stock opened at $155.39 on Thursday. The company has a current ratio of 1.03, a quick ratio of 0.79 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $374.12 billion, a P/E ratio of 22.49, a P/E/G ratio of 2.77 and a beta of 0.53. The business has a fifty day simple moving average of $159.52 and a two-hundred day simple moving average of $156.38. Johnson & Johnson has a 12 month low of $143.13 and a 12 month high of $168.85.

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

Johnson & Johnson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 26th will be given a $1.24 dividend. This represents a $4.96 annualized dividend and a dividend yield of 3.19%. The ex-dividend date of this dividend is Tuesday, November 26th. Johnson & Johnson’s dividend payout ratio is presently 71.78%.

Johnson & Johnson 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.