Parr Mcknight Wealth Management Group LLC Purchases Shares of 55,252 Johnson & Johnson (NYSE:JNJ)

Parr Mcknight Wealth Management Group LLC acquired a new stake in Johnson & Johnson (NYSE:JNJ - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 55,252 shares of the company's stock, valued at approximately $7,991,000. Johnson & Johnson makes up 1.1% of Parr Mcknight Wealth Management Group LLC's holdings, making the stock its 17th biggest holding.

Other institutional investors and hedge funds have also made changes to their positions in the company. Sulzberger Capital Advisors Inc. purchased a new stake in shares of Johnson & Johnson in the fourth quarter valued at approximately $453,000. Oregon Pacific Wealth Management LLC purchased a new stake in shares of Johnson & Johnson in the fourth quarter valued at approximately $949,000. Horan Securities Inc. increased its position in shares of Johnson & Johnson by 1.3% in the fourth quarter. Horan Securities Inc. now owns 7,178 shares of the company's stock valued at $1,038,000 after buying an additional 90 shares in the last quarter. Strategic Financial Concepts LLC increased its position in shares of Johnson & Johnson by 57.9% in the fourth quarter. Strategic Financial Concepts LLC now owns 3,467 shares of the company's stock valued at $501,000 after buying an additional 1,271 shares in the last quarter. Finally, State of Wyoming increased 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 worth $1,487,000 after purchasing an additional 10,279 shares in the last quarter. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, VP Robert J. Decker sold 6,999 shares of the stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $165.88, for a total transaction of $1,160,994.12. Following the transaction, the vice president now owns 21,001 shares of the company's stock, valued at approximately $3,483,645.88. This represents a 25.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.16% of the company's stock.

Johnson & Johnson Trading Up 0.3%

NYSE:JNJ traded up $0.51 during trading hours on Friday, hitting $153.12. The company had a trading volume of 6,727,130 shares, compared to its average volume of 7,965,146. The company has a current ratio of 1.11, a quick ratio of 0.86 and a debt-to-equity ratio of 0.43. The company has a 50-day moving average of $155.24 and a 200 day moving average of $153.69. The company has a market cap of $368.41 billion, a P/E ratio of 23.02, a P/E/G ratio of 2.56 and a beta of 0.42. 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 results on Tuesday, April 15th. The company reported $2.77 EPS for the quarter, beating the consensus estimate of $2.59 by $0.18. Johnson & Johnson had a return on equity of 34.24% and a net margin of 18.20%. The business had revenue of $21.89 billion for the quarter, compared to analyst estimates of $21.65 billion. Sell-side analysts expect that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Tuesday, May 27th will be paid a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 3.40%. The ex-dividend date of this dividend is Tuesday, May 27th. This is a positive change from Johnson & Johnson's previous quarterly dividend of $1.24. Johnson & Johnson's dividend payout ratio is 57.84%.

Wall Street Analyst Weigh In

Several brokerages recently commented on JNJ. Barclays dropped their price target on Johnson & Johnson from $166.00 to $165.00 and set an "equal weight" rating for the company in a research report on Thursday, April 17th. Bank of America dropped their price target on Johnson & Johnson from $171.00 to $159.00 and set a "neutral" rating for the company in a research report on Thursday, April 10th. The Goldman Sachs Group upgraded Johnson & Johnson from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $157.00 to $172.00 in a research report on Wednesday, April 9th. Benchmark upgraded Johnson & Johnson to a "strong-buy" rating in a research report on Thursday, April 24th. Finally, Guggenheim reiterated a "neutral" rating on shares of Johnson & Johnson in a research report on Wednesday, April 2nd. Eleven research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Johnson & Johnson currently has a consensus rating of "Moderate Buy" and a consensus price target of $170.88.

Johnson & Johnson Company 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.