Parr Mcknight Wealth Management Group LLC Has $8.74 Million Stock Position in Johnson & Johnson (NYSE:JNJ)

Parr Mcknight Wealth Management Group LLC lowered its stake in Johnson & Johnson (NYSE:JNJ - Free Report) by 4.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 52,724 shares of the company's stock after selling 2,528 shares during the period. Johnson & Johnson makes up about 1.3% of Parr Mcknight Wealth Management Group LLC's investment portfolio, making the stock its 12th largest holding. Parr Mcknight Wealth Management Group LLC's holdings in Johnson & Johnson were worth $8,744,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in JNJ. Lantz Financial LLC lifted its position in Johnson & Johnson by 3.3% during the 1st quarter. Lantz Financial LLC now owns 11,974 shares of the company's stock worth $1,986,000 after acquiring an additional 377 shares during the last quarter. Sulzberger Capital Advisors Inc. acquired a new position in Johnson & Johnson during the 4th quarter worth $453,000. Joel Isaacson & Co. LLC lifted its position in Johnson & Johnson by 3.5% during the 1st quarter. Joel Isaacson & Co. LLC now owns 74,132 shares of the company's stock worth $12,294,000 after acquiring an additional 2,526 shares during the last quarter. State of Wyoming raised its position in shares of Johnson & Johnson by 205,580.0% during the fourth quarter. State of Wyoming now owns 10,284 shares of the company's stock valued at $1,487,000 after buying an additional 10,279 shares during the last quarter. Finally, Range Financial Group LLC raised its position in shares of Johnson & Johnson by 18.9% during the first quarter. Range Financial Group LLC now owns 15,886 shares of the company's stock valued at $2,635,000 after buying an additional 2,529 shares during the last quarter. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on JNJ shares. Benchmark raised shares of Johnson & Johnson to a "strong-buy" rating in a research report on Thursday, April 24th. Raymond James Financial dropped their price target on shares of Johnson & Johnson from $165.00 to $162.00 and set an "outperform" rating for the company in a research report on Monday, April 14th. Guggenheim reissued a "neutral" rating on shares of Johnson & Johnson in a research report on Wednesday, April 2nd. Wall Street Zen raised shares of Johnson & Johnson from a "buy" rating to a "strong-buy" rating in a research report on Saturday, June 21st. Finally, Leerink Partnrs lowered shares of Johnson & Johnson from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 13th. Eleven research analysts have rated the stock with a hold rating, seven have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $171.00.

Johnson & Johnson Price Performance

Shares of Johnson & Johnson stock traded down $0.82 during midday trading on Friday, reaching $156.87. The company had a trading volume of 7,866,488 shares, compared to its average volume of 8,066,975. The company has a current ratio of 1.26, a quick ratio of 1.03 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $377.44 billion, a price-to-earnings ratio of 17.45, a price-to-earnings-growth ratio of 2.15 and a beta of 0.41. The stock has a fifty day simple moving average of $153.73 and a 200 day simple moving average of $154.35. Johnson & Johnson has a 1-year low of $140.68 and a 1-year high of $169.99.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last announced its quarterly earnings data on Tuesday, April 15th. The company reported $2.77 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.59 by $0.18. Johnson & Johnson had a net margin of 24.42% and a return on equity of 33.46%. The firm had revenue of $21.89 billion for the quarter, compared to analysts' expectations of $21.65 billion. As a group, equities research analysts forecast that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Tuesday, May 27th were issued a $1.30 dividend. This is a positive change from Johnson & Johnson's previous quarterly dividend of $1.24. The ex-dividend date of this dividend was Tuesday, May 27th. This represents a $5.20 annualized dividend and a dividend yield of 3.31%. Johnson & Johnson's payout ratio is 57.84%.

Johnson & Johnson Profile

Johnson & Johnson is a holding company, which engages in the research, development, manufacture, and sale of products in the healthcare field. It operates through the Innovative Medicine and MedTech segments. The Innovative Medicine segment focuses on immunology, infectious diseases, neuroscience, oncology, cardiovascular and metabolism, and pulmonary hypertension.