WealthPlan Investment Management LLC Makes New $21.64 Million Investment in Johnson & Johnson (NYSE:JNJ)

Posted by Defense World Staff on Mar 19th, 2023

WealthPlan Investment Management LLC acquired a new stake in shares of Johnson & Johnson (NYSE:JNJ – Get Rating) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 122,136 shares of the company’s stock, valued at approximately $21,639,000. Johnson & Johnson accounts for approximately 1.6% of WealthPlan Investment Management LLC’s holdings, making the stock its 9th largest holding.

Other institutional investors also recently made changes to their positions in the company. TD Capital Management LLC purchased a new stake in shares of Johnson & Johnson during the 3rd quarter valued at $48,000. Cowa LLC purchased a new stake in Johnson & Johnson during the 3rd quarter worth $58,000. Legend Financial Advisors Inc. purchased a new stake in Johnson & Johnson during the 3rd quarter worth $59,000. Adirondack Retirement Specialists Inc. purchased a new stake in Johnson & Johnson during the 3rd quarter worth $67,000. Finally, Heritage Wealth Management LLC purchased a new stake in Johnson & Johnson during the 2nd quarter worth $84,000. 67.94% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider James D. Swanson sold 1,062 shares of the stock in a transaction dated Monday, March 6th. The shares were sold at an average price of $154.66, for a total transaction of $164,248.92. Following the sale, the insider now owns 9,215 shares in the company, valued at $1,425,191.90. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.35% of the stock is owned by company insiders.

Johnson & Johnson Stock Performance

Shares of Johnson & Johnson stock opened at $152.38 on Friday. The firm has a market cap of $396.84 billion, a PE ratio of 22.61, a price-to-earnings-growth ratio of 2.66 and a beta of 0.54. The firm’s 50-day simple moving average is $161.97 and its 200-day simple moving average is $167.91. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.77 and a current ratio of 0.99. Johnson & Johnson has a 1 year low of $150.71 and a 1 year high of $186.69.

Johnson & Johnson (NYSE:JNJ – Get Rating) last released its quarterly earnings data on Tuesday, January 24th. The company reported $2.35 earnings per share for the quarter, topping the consensus estimate of $2.22 by $0.13. The firm had revenue of $23.71 billion for the quarter, compared to analyst estimates of $23.90 billion. Johnson & Johnson had a net margin of 18.90% and a return on equity of 35.76%. Johnson & Johnson’s quarterly revenue was down 4.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.13 earnings per share. Equities analysts forecast that Johnson & Johnson will post 10.5 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 7th. Investors of record on Tuesday, February 21st were paid a dividend of $1.13 per share. The ex-dividend date was Friday, February 17th. This represents a $4.52 annualized dividend and a yield of 2.97%. Johnson & Johnson’s dividend payout ratio (DPR) is 67.06%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $215.00 price target on shares of Johnson & Johnson in a research report on Wednesday, February 1st. StockNews.com initiated coverage on shares of Johnson & Johnson in a research report on Thursday. They set a “strong-buy” rating for the company. Citigroup boosted their price objective on shares of Johnson & Johnson from $198.00 to $205.00 and gave the stock a “buy” rating in a report on Monday, December 12th. Atlantic Securities boosted their price objective on shares of Johnson & Johnson from $160.00 to $168.00 and gave the stock a “neutral” rating in a report on Wednesday, January 25th. Finally, Guggenheim initiated coverage on shares of Johnson & Johnson in a report on Tuesday, February 28th. They issued a “neutral” rating and a $161.00 price objective on the stock. Seven equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $174.73.

Johnson & Johnson Company Profile

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Johnson & Johnson is a holding company, which engages in the research and development, manufacture and sale of products in the health care field. It operates through the following segments: Consumer Health, Pharmaceutical, and MedTech. The Consumer Health segment includes products focused on personal healthcare used in the Skin Health/Beauty, Over-the-Counter medicines, Baby Care, Oral Care, Women’s Health and Wound Care markets.

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

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