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

Providence Capital Advisors LLC reduced its position in shares of Johnson & Johnson (NYSE:JNJ) by 92.4% in the third quarter, HoldingsChannel reports. The firm owned 3,109 shares of the company’s stock after selling 37,800 shares during the quarter. Providence Capital Advisors LLC’s holdings in Johnson & Johnson were worth $504,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in JNJ. Innealta Capital LLC bought a new stake in shares of Johnson & Johnson during the 2nd quarter valued at about $27,000. Highline Wealth Partners LLC bought a new stake in shares of Johnson & Johnson during the 3rd quarter valued at about $31,000. RPg Family Wealth Advisory LLC bought a new stake in shares of Johnson & Johnson during the 3rd quarter valued at about $35,000. Mowery & Schoenfeld Wealth Management LLC lifted its position in shares of Johnson & Johnson by 58.7% during the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 246 shares of the company’s stock valued at $40,000 after buying an additional 91 shares in the last quarter. Finally, Activest Wealth Management purchased a new position in shares of Johnson & Johnson during the 3rd quarter valued at about $40,000. 69.55% of the stock is currently owned by institutional investors.

Johnson & Johnson Stock Up 0.6 %

Shares of JNJ opened at $155.39 on Thursday. The stock has a market capitalization of $374.12 billion, a price-to-earnings ratio of 22.49, a price-to-earnings-growth ratio of 2.77 and a beta of 0.53. Johnson & Johnson has a 1 year low of $143.13 and a 1 year high of $168.85. The business’s 50 day simple moving average is $159.52 and its 200-day simple moving average is $156.38. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.03 and a quick ratio of 0.79.

Johnson & Johnson (NYSE:JNJ) last released its earnings results on Tuesday, October 15th. The company reported $2.42 earnings per share for the quarter, beating the consensus estimate of $2.21 by $0.21. The firm had revenue of $22.47 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.66 EPS. As a group, equities analysts expect that Johnson & Johnson will post 9.93 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on JNJ. Citigroup lifted their price objective on Johnson & Johnson from $180.00 to $185.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Guggenheim lifted their price objective on Johnson & Johnson from $156.00 to $162.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th. Wolfe Research began coverage on Johnson & Johnson in a research report on Friday, November 15th. They set an “outperform” rating and a $190.00 price objective on the stock. Royal Bank of Canada lifted their price objective on Johnson & Johnson from $178.00 to $181.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Finally, Morgan Stanley lifted their price objective on Johnson & Johnson from $169.00 to $175.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. Seven investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $175.94.

Insider Buying and Selling at Johnson & Johnson

In other news, VP Robert J. Decker sold 5,635 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $165.06, for a total transaction of $930,113.10. Following the transaction, the vice president now owns 18,973 shares of the company’s stock, valued at approximately $3,131,683.38. This 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 this link. 0.16% of the stock is currently owned by corporate insiders.

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.