Provident Investment Management Inc. Grows Position in Johnson & Johnson (JNJ)

Provident Investment Management Inc. lifted its stake in shares of Johnson & Johnson (NYSE:JNJ) by 70.4% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 10,097 shares of the company’s stock after acquiring an additional 4,173 shares during the period. Provident Investment Management Inc.’s holdings in Johnson & Johnson were worth $1,225,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in the stock. Financial Gravity Wealth Inc. acquired a new position in Johnson & Johnson during the first quarter worth $105,000. WP Advisors LLC acquired a new position in Johnson & Johnson during the second quarter worth $108,000. FNY Investment Advisers LLC acquired a new position in Johnson & Johnson during the second quarter worth $117,000. Fusion Family Wealth LLC raised its holdings in Johnson & Johnson by 621.4% during the second quarter. Fusion Family Wealth LLC now owns 1,010 shares of the company’s stock worth $123,000 after buying an additional 870 shares during the last quarter. Finally, Live Your Vision LLC raised its holdings in Johnson & Johnson by 58.3% during the second quarter. Live Your Vision LLC now owns 1,363 shares of the company’s stock worth $172,000 after buying an additional 502 shares during the last quarter. Institutional investors own 66.51% of the company’s stock.

Several analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Johnson & Johnson from a “hold” rating to a “buy” rating and set a $164.00 target price for the company in a research note on Wednesday. Wells Fargo & Co reiterated an “outperform” rating and issued a $160.00 target price (up previously from $155.00) on shares of Johnson & Johnson in a research note on Wednesday, October 17th. HC Wainwright reiterated a “buy” rating on shares of Johnson & Johnson in a research note on Wednesday, October 17th. Raymond James upped their target price on shares of Johnson & Johnson from $144.00 to $149.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 17th. Finally, Credit Suisse Group set a $149.00 target price on shares of Johnson & Johnson and gave the stock a “buy” rating in a research note on Sunday, October 14th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and ten have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $143.90.

NYSE JNJ opened at $146.03 on Thursday. The firm has a market capitalization of $391.78 billion, a PE ratio of 20.00, a PEG ratio of 2.28 and a beta of 0.59. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.72 and a quick ratio of 1.40. Johnson & Johnson has a 1 year low of $118.62 and a 1 year high of $148.99.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings results on Tuesday, October 16th. The company reported $2.05 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.03 by $0.02. The company had revenue of $20.35 billion during the quarter, compared to analyst estimates of $20.05 billion. Johnson & Johnson had a net margin of 1.89% and a return on equity of 34.62%. The firm’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.90 earnings per share. Analysts forecast that Johnson & Johnson will post 8.16 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 11th. Investors of record on Tuesday, November 27th will be given a dividend of $0.90 per share. The ex-dividend date is Monday, November 26th. This represents a $3.60 annualized dividend and a yield of 2.47%. Johnson & Johnson’s payout ratio is currently 49.32%.

In related news, EVP Michael E. Sneed sold 30,943 shares of the stock in a transaction dated Friday, November 23rd. The shares were sold at an average price of $142.46, for a total transaction of $4,408,139.78. Following the completion of the transaction, the executive vice president now owns 70,817 shares in the company, valued at $10,088,589.82. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Ronald A. Kapusta sold 8,441 shares of the stock in a transaction dated Thursday, November 8th. The shares were sold at an average price of $145.15, for a total transaction of $1,225,211.15. Following the transaction, the chief accounting officer now owns 17,284 shares of the company’s stock, valued at approximately $2,508,772.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 351,748 shares of company stock valued at $51,092,647. 0.22% of the stock is owned by company insiders.

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Johnson & Johnson Profile

Johnson & Johnson, together with its subsidiaries, researches and develops, manufactures, and sells various products in the health care field worldwide. Its Consumer segment offers baby care products under the JOHNSON'S brand; oral care products under the LISTERINE brand; beauty products under the AVEENO, CLEAN & CLEAR, DABAO, JOHNSON'S Adult, LE PETITE MARSEILLAIS, NEUTROGENA, RoC, and OGX brands; over-the-counter medicines, including acetaminophen products under the TYLENOL brand; cold, flu, and allergy products under the SUDAFED brand; allergy products under the BENADRYL and ZYRTEC brands; ibuprofen products under the MOTRIN IB brand; and acid reflux products under the PEPCID brand.

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Institutional Ownership by Quarter for Johnson & Johnson (NYSE:JNJ)

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