Benedict Financial Advisors Inc. Increases Stake in Johnson & Johnson (NYSE:JNJ)

Benedict Financial Advisors Inc. grew its holdings in Johnson & Johnson (NYSE:JNJGet Rating) by 0.6% during the first quarter, Holdings Channel.com reports. The firm owned 59,396 shares of the company’s stock after acquiring an additional 351 shares during the quarter. Johnson & Johnson accounts for about 2.8% of Benedict Financial Advisors Inc.’s portfolio, making the stock its 3rd biggest position. Benedict Financial Advisors Inc.’s holdings in Johnson & Johnson were worth $10,527,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Family CFO Inc acquired a new position in Johnson & Johnson during the fourth quarter worth $26,000. Steward Financial Group LLC acquired a new position in Johnson & Johnson during the fourth quarter worth $34,000. Joseph P. Lucia & Associates LLC acquired a new position in Johnson & Johnson during the first quarter worth $38,000. Advocacy Wealth Management Services LLC increased its holdings in Johnson & Johnson by 41.4% during the first quarter. Advocacy Wealth Management Services LLC now owns 229 shares of the company’s stock worth $41,000 after buying an additional 67 shares during the last quarter. Finally, Gibson Wealth Advisors LLC acquired a new position in Johnson & Johnson during the fourth quarter worth $49,000. 68.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have commented on JNJ. Credit Suisse Group lifted their price objective on shares of Johnson & Johnson from $200.00 to $205.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 20th. Wells Fargo & Company lifted their price objective on shares of Johnson & Johnson from $190.00 to $195.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 13th. Raymond James lifted their price objective on shares of Johnson & Johnson from $195.00 to $196.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 20th. SVB Leerink reduced their price objective on shares of Johnson & Johnson from $200.00 to $194.00 in a research report on Wednesday, July 20th. Finally, Citigroup reduced their price objective on shares of Johnson & Johnson from $205.00 to $201.00 in a research report on Wednesday, July 20th. Four investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $189.89.

Johnson & Johnson Trading Down 0.6 %

JNJ opened at $172.92 on Wednesday. Johnson & Johnson has a twelve month low of $155.72 and a twelve month high of $186.69. The company has a 50-day simple moving average of $175.67 and a 200 day simple moving average of $174.49. The company has a quick ratio of 1.14, a current ratio of 1.39 and a debt-to-equity ratio of 0.39. The stock has a market capitalization of $455.02 billion, a price-to-earnings ratio of 25.17, a P/E/G ratio of 3.32 and a beta of 0.59.

Johnson & Johnson (NYSE:JNJGet Rating) last posted its quarterly earnings data on Tuesday, July 19th. The company reported $2.59 earnings per share for the quarter, topping the consensus estimate of $2.57 by $0.02. Johnson & Johnson had a net margin of 19.21% and a return on equity of 36.56%. The business had revenue of $24.02 billion during the quarter, compared to analysts’ expectations of $23.85 billion. During the same quarter in the prior year, the business posted $2.48 earnings per share. Johnson & Johnson’s revenue was up 3.0% compared to the same quarter last year. Analysts predict that Johnson & Johnson will post 10.05 EPS for the current fiscal year.

Johnson & Johnson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 6th. Shareholders of record on Tuesday, August 23rd will be paid a dividend of $1.13 per share. This represents a $4.52 annualized dividend and a yield of 2.61%. The ex-dividend date is Monday, August 22nd. Johnson & Johnson’s payout ratio is 65.79%.

Insiders Place Their Bets

In other news, EVP Kathryn E. Wengel sold 40,000 shares of the company’s stock in a transaction that occurred on Friday, June 10th. The stock was sold at an average price of $173.00, for a total value of $6,920,000.00. Following the completion of the transaction, the executive vice president now owns 71,311 shares of the company’s stock, valued at $12,336,803. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Kathryn E. Wengel sold 40,000 shares of the company’s stock in a transaction that occurred on Friday, June 10th. The stock was sold at an average price of $173.00, for a total value of $6,920,000.00. Following the completion of the transaction, the executive vice president now owns 71,311 shares of the company’s stock, valued at $12,336,803. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Robert J. Decker sold 8,462 shares of the company’s stock in a transaction that occurred on Thursday, May 26th. The shares were sold at an average price of $180.00, for a total value of $1,523,160.00. Following the completion of the transaction, the chief accounting officer now directly owns 15,473 shares of the company’s stock, valued at approximately $2,785,140. The disclosure for this sale can be found here. Insiders own 0.35% of the company’s stock.

About Johnson & Johnson

(Get Rating)

Johnson & Johnson, together with its subsidiaries, researches and develops, manufactures, and sells various products in the healthcare field worldwide. The company's Consumer Health segment offers baby care products under the JOHNSON'S and AVEENO Baby brands; oral care products under the LISTERINE brand; skin health/beauty products under the AVEENO, CLEAN & CLEAR, DR.

Featured Stories

Want to see what other hedge funds are holding JNJ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Johnson & Johnson (NYSE:JNJGet Rating).

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

Receive News & Ratings for Johnson & Johnson Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Johnson & Johnson and related companies with MarketBeat.com's FREE daily email newsletter.