Sound Income Strategies LLC Acquires 4,506 Shares of Johnson & Johnson (NYSE:JNJ)

Posted by on Mar 20th, 2023

Sound Income Strategies LLC increased its holdings in shares of Johnson & Johnson (NYSE:JNJ – Get Rating) by 11.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 43,731 shares of the company’s stock after buying an additional 4,506 shares during the period. Johnson & Johnson accounts for about 1.0% of Sound Income Strategies LLC’s investment portfolio, making the stock its 29th biggest holding. Sound Income Strategies LLC’s holdings in Johnson & Johnson were worth $7,725,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of JNJ. Sandy Cove Advisors LLC raised its stake in shares of Johnson & Johnson by 1.6% in the third quarter. Sandy Cove Advisors LLC now owns 3,703 shares of the company’s stock worth $605,000 after buying an additional 60 shares during the period. Paces Ferry Wealth Advisors LLC raised its stake in Johnson & Johnson by 0.7% during the 3rd quarter. Paces Ferry Wealth Advisors LLC now owns 8,724 shares of the company’s stock valued at $1,425,000 after purchasing an additional 62 shares during the period. Mason & Associates Inc raised its stake in Johnson & Johnson by 4.9% during the 3rd quarter. Mason & Associates Inc now owns 1,317 shares of the company’s stock valued at $215,000 after purchasing an additional 62 shares during the period. Magnolia Capital Advisors LLC raised its stake in Johnson & Johnson by 0.7% during the 3rd quarter. Magnolia Capital Advisors LLC now owns 8,883 shares of the company’s stock valued at $1,451,000 after purchasing an additional 62 shares during the period. Finally, Oakworth Capital Inc. raised its stake in Johnson & Johnson by 0.3% during the 3rd quarter. Oakworth Capital Inc. now owns 21,363 shares of the company’s stock valued at $3,490,000 after purchasing an additional 63 shares during the period. Institutional investors and hedge funds own 67.94% of the company’s stock.

Insiders Place Their Bets

In other Johnson & Johnson news, insider James D. Swanson sold 1,062 shares of the company’s stock in a transaction on Monday, March 6th. The stock was sold at an average price of $154.66, for a total value of $164,248.92. Following the completion of the sale, the insider now directly owns 9,215 shares in the company, valued at approximately $1,425,191.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.35% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on JNJ shares. Atlantic Securities lifted their target price on Johnson & Johnson from $160.00 to $168.00 and gave the company a “neutral” rating in a research note on Wednesday, January 25th. Morgan Stanley lifted their price objective on Johnson & Johnson from $176.00 to $180.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 25th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $215.00 price objective on shares of Johnson & Johnson in a research note on Wednesday, February 1st. SVB Leerink reduced their price objective on Johnson & Johnson from $194.00 to $186.00 and set an “outperform” rating on the stock in a research note on Friday, January 20th. Finally, StockNews.com assumed coverage on Johnson & Johnson in a research note on Thursday. They issued a “strong-buy” rating on the stock. Seven analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $174.73.

Johnson & Johnson Price Performance

JNJ opened at $152.38 on Monday. The business has a fifty day moving average of $161.97 and a 200 day moving average of $167.96. Johnson & Johnson has a 52-week low of $150.71 and a 52-week high of $186.69. The company has a quick ratio of 0.77, a current ratio of 0.99 and a debt-to-equity ratio of 0.35. The stock has a market cap of $396.84 billion, a P/E ratio of 22.61, a PEG ratio of 2.63 and a beta of 0.54.

Johnson & Johnson (NYSE:JNJ – Get Rating) last posted its quarterly earnings data on Tuesday, January 24th. The company reported $2.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.22 by $0.13. Johnson & Johnson had a return on equity of 35.76% and a net margin of 18.90%. The company had revenue of $23.71 billion during the quarter, compared to analysts’ expectations of $23.90 billion. During the same quarter in the previous year, the business earned $2.13 EPS. Johnson & Johnson’s revenue was down 4.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Johnson & Johnson will post 10.5 EPS for the current year.

Johnson & Johnson Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 7th. Shareholders of record on Tuesday, February 21st were issued a $1.13 dividend. This represents a $4.52 annualized dividend and a dividend yield of 2.97%. The ex-dividend date of this dividend was Friday, February 17th. Johnson & Johnson’s dividend payout ratio is 67.06%.

About Johnson & Johnson

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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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