Adapt Wealth Advisors LLC Buys Shares of 15,055 Johnson & Johnson (NYSE:JNJ)

Adapt Wealth Advisors LLC purchased a new stake in shares of Johnson & Johnson (NYSE:JNJFree Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 15,055 shares of the company’s stock, valued at approximately $2,382,000. Johnson & Johnson makes up approximately 1.7% of Adapt Wealth Advisors LLC’s investment portfolio, making the stock its 20th biggest position.

Several other institutional investors also recently modified their holdings of JNJ. GUNN & Co INVESTMENT MANAGEMENT INC. purchased a new position in shares of Johnson & Johnson in the 3rd quarter worth $2,854,000. Quantum Financial Advisors LLC lifted its holdings in Johnson & Johnson by 18.2% in the third quarter. Quantum Financial Advisors LLC now owns 4,060 shares of the company’s stock valued at $632,000 after acquiring an additional 626 shares during the period. Scarborough Advisors LLC grew its stake in shares of Johnson & Johnson by 17.5% during the 3rd quarter. Scarborough Advisors LLC now owns 1,441 shares of the company’s stock valued at $224,000 after purchasing an additional 215 shares during the period. Fidelity D & D Bancorp Inc. purchased a new stake in shares of Johnson & Johnson during the 3rd quarter valued at about $659,000. Finally, Fortis Group Advisors LLC lifted its stake in shares of Johnson & Johnson by 26.3% in the 3rd quarter. Fortis Group Advisors LLC now owns 2,498 shares of the company’s stock worth $388,000 after purchasing an additional 520 shares during the period. 69.55% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

JNJ has been the subject of a number of research reports. StockNews.com raised shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Sunday, June 30th. Royal Bank of Canada reiterated an “outperform” rating and set a $175.00 target price on shares of Johnson & Johnson in a research report on Monday, June 17th. The Goldman Sachs Group assumed coverage on Johnson & Johnson in a report on Thursday, May 30th. They set a “neutral” rating and a $160.00 price objective on the stock. HSBC upgraded Johnson & Johnson from a “hold” rating to a “buy” rating and lifted their price target for the stock from $169.00 to $170.00 in a research report on Thursday, April 18th. Finally, Morgan Stanley reduced their target price on shares of Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 17th. Eight equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $174.07.

Get Our Latest Research Report on Johnson & Johnson

Johnson & Johnson Trading Up 1.1 %

NYSE:JNJ opened at $147.05 on Wednesday. The company has a current ratio of 1.17, a quick ratio of 0.94 and a debt-to-equity ratio of 0.36. The stock has a fifty day moving average price of $147.96 and a 200 day moving average price of $153.59. The firm has a market cap of $353.90 billion, a PE ratio of 9.17, a price-to-earnings-growth ratio of 2.42 and a beta of 0.52. Johnson & Johnson has a 12-month low of $143.13 and a 12-month high of $175.97.

Johnson & Johnson (NYSE:JNJGet Free Report) last released its quarterly earnings results on Tuesday, April 16th. The company reported $2.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.64 by $0.07. The firm had revenue of $21.38 billion for the quarter, compared to the consensus estimate of $21.39 billion. Johnson & Johnson had a return on equity of 36.70% and a net margin of 45.26%. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter last year, the business posted $2.68 EPS. Sell-side analysts anticipate that Johnson & Johnson will post 10.62 earnings per share for the current fiscal year.

Johnson & Johnson Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 21st were issued a $1.24 dividend. This is a boost from Johnson & Johnson’s previous quarterly dividend of $1.19. This represents a $4.96 annualized dividend and a dividend yield of 3.37%. The ex-dividend date of this dividend was Monday, May 20th. Johnson & Johnson’s dividend payout ratio (DPR) is currently 30.92%.

About Johnson & Johnson

(Free Report)

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.

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

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