Rench Wealth Management Inc. Has $9.43 Million Position in Johnson & Johnson (NYSE:JNJ)

Rench Wealth Management Inc. reduced its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 2.0% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 58,186 shares of the company’s stock after selling 1,170 shares during the quarter. Johnson & Johnson comprises approximately 3.2% of Rench Wealth Management Inc.’s holdings, making the stock its 7th biggest position. Rench Wealth Management Inc.’s holdings in Johnson & Johnson were worth $9,430,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in JNJ. Summit Wealth Partners LLC lifted its position in Johnson & Johnson by 0.6% during the second quarter. Summit Wealth Partners LLC now owns 10,007 shares of the company’s stock valued at $1,463,000 after purchasing an additional 61 shares during the period. Powers Advisory Group LLC raised its position in shares of Johnson & Johnson by 0.6% in the third quarter. Powers Advisory Group LLC now owns 9,489 shares of the company’s stock worth $1,538,000 after acquiring an additional 61 shares during the period. Citizens & Northern Corp raised its position in shares of Johnson & Johnson by 3.5% in the second quarter. Citizens & Northern Corp now owns 1,884 shares of the company’s stock worth $275,000 after acquiring an additional 63 shares during the period. Eagle Wealth Strategies LLC raised its position in shares of Johnson & Johnson by 2.8% in the third quarter. Eagle Wealth Strategies LLC now owns 2,294 shares of the company’s stock worth $372,000 after acquiring an additional 63 shares during the period. Finally, Epic Trust Investment Advisors LLC raised its position in shares of Johnson & Johnson by 3.6% in the second quarter. Epic Trust Investment Advisors LLC now owns 1,831 shares of the company’s stock worth $268,000 after acquiring an additional 64 shares during the period. 69.55% of the stock is currently owned by institutional investors.

Johnson & Johnson Stock Performance

NYSE:JNJ opened at $150.47 on Thursday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.03 and a quick ratio of 0.79. The firm has a market capitalization of $362.27 billion, a price-to-earnings ratio of 21.78, a PEG ratio of 2.71 and a beta of 0.51. The company’s 50-day moving average is $158.56 and its two-hundred day moving average is $156.41. Johnson & Johnson has a 1-year low of $143.13 and a 1-year high of $168.85.

Johnson & Johnson (NYSE:JNJ) last posted 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 company had revenue of $22.47 billion for the quarter, compared to analyst estimates of $22.17 billion. Johnson & Johnson had a net margin of 19.14% and a return on equity of 35.45%. Johnson & Johnson’s revenue was up 5.2% on a year-over-year basis. During the same period in the previous year, the business posted $2.66 EPS. Analysts forecast that Johnson & Johnson will post 9.93 EPS for the current year.

Johnson & Johnson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 26th will be issued a $1.24 dividend. The ex-dividend date is Tuesday, November 26th. This represents a $4.96 annualized dividend and a dividend yield of 3.30%. Johnson & Johnson’s dividend payout ratio is currently 71.78%.

Analysts Set New Price Targets

A number of brokerages have weighed in on JNJ. Wells Fargo & Company upped 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. Guggenheim upped their price objective on shares of Johnson & Johnson from $156.00 to $162.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 6th. Wolfe Research began coverage on shares of Johnson & Johnson in a research note on Friday, November 15th. They set an “outperform” rating and a $190.00 target price for the company. Citigroup boosted their target price on shares of Johnson & Johnson from $180.00 to $185.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Finally, Morgan Stanley boosted their target price on shares of Johnson & Johnson from $169.00 to $175.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Seven investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Johnson & Johnson has a consensus rating of “Moderate Buy” and a consensus target price of $175.67.

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.