Prevail Innovative Wealth Advisors LLC Boosts Stake in Johnson & Johnson (NYSE:JNJ)

Prevail Innovative Wealth Advisors LLC increased its stake in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 213.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,540 shares of the company's stock after buying an additional 3,092 shares during the quarter. Prevail Innovative Wealth Advisors LLC's holdings in Johnson & Johnson were worth $753,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of Johnson & Johnson by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 232,792,559 shares of the company's stock worth $33,666,460,000 after acquiring an additional 1,772,706 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Johnson & Johnson by 2.8% during the 4th quarter. Geode Capital Management LLC now owns 57,667,920 shares of the company's stock worth $8,321,881,000 after acquiring an additional 1,561,036 shares in the last quarter. Northern Trust Corp raised its position in shares of Johnson & Johnson by 12.3% during the 4th quarter. Northern Trust Corp now owns 30,813,175 shares of the company's stock worth $4,456,201,000 after purchasing an additional 3,363,235 shares during the last quarter. Norges Bank acquired a new position in shares of Johnson & Johnson during the 4th quarter worth approximately $4,390,037,000. Finally, Wellington Management Group LLP raised its position in shares of Johnson & Johnson by 1.8% during the 4th quarter. Wellington Management Group LLP now owns 24,356,572 shares of the company's stock worth $3,522,447,000 after purchasing an additional 431,205 shares during the last quarter. Hedge funds and other institutional investors own 69.55% of the company's stock.

Johnson & Johnson Trading Down 0.7%

Shares of JNJ stock traded down $1.22 on Thursday, reaching $163.56. 6,484,944 shares of the stock were exchanged, compared to its average volume of 8,144,396. The stock has a market cap of $393.54 billion, a P/E ratio of 18.19, a price-to-earnings-growth ratio of 2.12 and a beta of 0.41. The company has a quick ratio of 1.03, a current ratio of 1.26 and a debt-to-equity ratio of 0.49. The firm has a 50 day moving average of $153.95 and a two-hundred day moving average of $154.71. 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 Wednesday, July 16th. The company reported $2.77 earnings per share for the quarter, topping analysts' consensus estimates of $2.68 by $0.09. Johnson & Johnson had a net margin of 24.42% and a return on equity of 33.46%. The firm had revenue of $23.74 billion during the quarter, compared to analysts' expectations of $22.85 billion. During the same period in the prior year, the company earned $2.82 EPS. The firm's revenue was up 5.8% on a year-over-year basis. On average, research analysts anticipate that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 9th. Investors of record on Tuesday, August 26th will be given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 3.18%. Johnson & Johnson's dividend payout ratio (DPR) is 57.84%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. The Goldman Sachs Group upgraded Johnson & Johnson from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $157.00 to $172.00 in a research report on Wednesday, April 9th. Royal Bank Of Canada lifted their price objective on Johnson & Johnson from $181.00 to $185.00 and gave the stock an "outperform" rating in a research report on Thursday. Leerink Partnrs downgraded Johnson & Johnson from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 13th. Guggenheim boosted their price target on Johnson & Johnson from $164.00 to $167.00 and gave the company a "neutral" rating in a report on Thursday. Finally, Piper Sandler reiterated an "overweight" rating on shares of Johnson & Johnson in a report on Thursday. Eleven investment analysts have rated the stock with a hold rating, nine have given a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat, Johnson & Johnson presently has a consensus rating of "Moderate Buy" and an average price target of $174.11.

About Johnson & Johnson

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.