Parsec Financial Management Inc. buys 5,940 shares of Johnson & Johnson (NYSE: JNJ)


Parsec Financial Management Inc. increased its stake in Johnson & Johnson (NYSE:JNJGet a rating) by 3.3% in Q1, according to the company in its latest 13F filing with the Securities and Exchange Commission (SEC). The fund held 185,424 shares of the company after buying an additional 5,940 shares during the period. Johnson & Johnson owns about 1.4% of Parsec Financial Management Inc.’s holdings, making the stock its 17th largest holding. Parsec Financial Management Inc.’s holdings in Johnson & Johnson were worth $32,863,000 when it last filed with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also increased or reduced their stake in the company. Family CFO Inc bought a new position in Johnson & Johnson in Q4 worth about $26,000. Professional Financial Advisors LLC increased its stake in Johnson & Johnson shares by 47.9% in the first quarter. Professional Financial Advisors LLC now owns 210 shares of the company valued at $37,000 after acquiring 68 additional shares in the last quarter. Joseph P. Lucia & Associates LLC bought a new position in Johnson & Johnson stock during the first quarter for $38,000. Advocacy Wealth Management Services LLC increased its stake in Johnson & Johnson stock by 41.4% in the first quarter. Advocacy Wealth Management Services LLC now owns 229 shares of the company valued at $41,000 after acquiring 67 additional shares in the last quarter. Finally, Gibson Wealth Advisors LLC bought a new position in Johnson & Johnson stock during the fourth quarter worth $49,000. Institutional investors hold 68.78% of the company’s shares.

Analyst upgrades and downgrades

JNJ has been the subject of several analyst reports. Wells Fargo & Company raised its price target on Johnson & Johnson stock from $190.00 to $195.00 and gave the company an “overweight” rating in a Wednesday, July 13 research note. StockNews.com moved Johnson & Johnson shares from a “buy” rating to a “strong buy” rating in a Tuesday, May 17 research note. Credit Suisse Group raised its price target on Johnson & Johnson shares from $200.00 to $205.00 and gave the company an “outperform” rating in a Wednesday, April 20 research note. Morgan Stanley raised its price target on Johnson & Johnson shares from $173.00 to $174.00 and gave the stock an “equal weight” rating in a research note on Friday, July 8. Finally, SVB Leerink lowered its price target on Johnson & Johnson shares from $200.00 to $194.00 in a Wednesday July 20 research note. Four analysts gave the stock a hold rating, five gave the stock a buy rating and one gave the stock a strong buy rating. Based on MarketBeat data, Johnson & Johnson has an average rating of “Moderate Buy” and an average target price of $189.89.

Insiders place their bets

In other news from Johnson & Johnson, CAD Robert J. Decker sold 8,462 shares of the company in a trade on Thursday, May 26. 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 sale, the chief accounting officer now directly owns 15,473 shares of the company, valued at $2,785,140. The transaction was disclosed in a filing with the Securities & Exchange Commission, available at the SEC website. In other news, CAO Robert J. Decker sold 8,462 Johnson & Johnson shares in a trade dated Thursday, May 26. The shares were sold at an average price of $180.00, for a total transaction of $1,523,160.00. Following completion of the transaction, the chief accounting officer now directly owns 15,473 shares of the company, valued at $2,785,140. The sale was disclosed in a filing with the Securities & Exchange Commission, accessible via this link. Also, VPE Kathryn E. Wengel sold 40,000 Johnson & Johnson shares in a trade dated Friday, June 10. The shares were sold at an average price of $173.00, for a total transaction of $6,920,000.00. Following the transaction, the executive vice president now owns 71,311 shares of the company, valued at $12,336,803. Disclosure of this sale can be found here. Company insiders own 0.35% of the company’s shares.

Johnson & Johnson trades up 0.9%

NYSE:JNJ opened at $167.57 on Wednesday. The company has a current ratio of 1.42, a quick ratio of 1.17 and a debt ratio of 0.37. The stock has a market capitalization of $440.57 billion, a price/earnings ratio of 24.39, a PEG ratio of 3.14 and a beta of 0.59. The company has a fifty-day simple moving average of $173.82 and a two-hundred-day simple moving average of $174.64. Johnson & Johnson has a 12-month low of $155.72 and a 12-month high of $186.69.

Johnson & Johnson (NYSE:JNJGet a rating) last released its quarterly results on Tuesday, July 19. The company reported EPS of $2.59 for the quarter, beating analysts’ consensus estimate of $2.57 by $0.02. The company posted revenue of $24.02 billion in the quarter, compared to $23.85 billion expected by analysts. Johnson & Johnson had a net margin of 19.21% and a return on equity of 36.14%. The company’s quarterly revenue increased 3.0% year over year. During the same period last year, the company posted earnings per share of $2.48. Analysts expect Johnson & Johnson to post EPS of 10.05 for the current fiscal year.

Johnson & Johnson announces dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 6. Shareholders of record on Tuesday, August 23 will receive a dividend of $1.13. This represents a dividend of $4.52 on an annualized basis and a yield of 2.70%. The ex-date of this dividend is Monday, August 22. Johnson & Johnson’s payout ratio is 65.79%.

Johnson & Johnson Company Profile

(Get a rating)

Johnson & Johnson, together with its subsidiaries, researches and develops, manufactures and sells various healthcare products 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 brands AVEENO, CLEAN & CLEAR, DR.

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Institutional ownership by quarter for Johnson & Johnson (NYSE: JNJ)



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Geraldine L. Melton