Corundum Group Inc. Buys 367 Shares of Johnson & Johnson (NYSE:JNJ)

Posted by on Mar 22nd, 2023

Corundum Group Inc. boosted its stake in Johnson & Johnson (NYSE:JNJ – Get Rating) by 4.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 9,310 shares of the company’s stock after buying an additional 367 shares during the quarter. Johnson & Johnson makes up 0.9% of Corundum Group Inc.’s investment portfolio, making the stock its 26th largest holding. Corundum Group Inc.’s holdings in Johnson & Johnson were worth $1,645,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of JNJ. Glassy Mountain Advisors Inc. bought a new position in shares of Johnson & Johnson during the fourth quarter valued at about $35,000. TD Capital Management LLC purchased a new stake in Johnson & Johnson in the 3rd quarter valued at about $48,000. Cowa LLC bought a new position in shares of Johnson & Johnson during the 3rd quarter worth approximately $58,000. Legend Financial Advisors Inc. purchased a new position in shares of Johnson & Johnson in the 3rd quarter worth approximately $59,000. Finally, Adirondack Retirement Specialists Inc. purchased a new stake in shares of Johnson & Johnson during the third quarter valued at approximately $67,000. 67.94% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider James D. Swanson sold 1,062 shares of the 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 sale, the insider now owns 9,215 shares in the company, valued at $1,425,191.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.35% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on JNJ. Guggenheim initiated coverage on Johnson & Johnson in a research report on Tuesday, February 28th. They set a “neutral” rating and a $161.00 target price for the company. Citigroup raised 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. StockNews.com assumed coverage on shares of Johnson & Johnson in a research note on Thursday, March 16th. They issued a “strong-buy” rating on the stock. Piper Sandler lowered their price target on shares of Johnson & Johnson from $55.00 to $52.00 in a report on Monday, February 6th. Finally, Atlantic Securities increased their price objective on Johnson & Johnson from $160.00 to $168.00 and gave the company a “neutral” rating in a report on Wednesday, January 25th. Seven investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $174.73.

Johnson & Johnson Price Performance

Shares of NYSE JNJ opened at $153.89 on Wednesday. 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 fifty-two week low of $150.71 and a fifty-two week high of $186.69. The stock has a market cap of $400.77 billion, a PE ratio of 22.83, a price-to-earnings-growth ratio of 2.63 and a beta of 0.54. The stock has a fifty day moving average of $161.11 and a 200-day moving average of $167.82.

Johnson & Johnson (NYSE:JNJ – Get Rating) last posted its earnings results on Tuesday, January 24th. The company reported $2.35 earnings per share 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 business had revenue of $23.71 billion during the quarter, compared to analyst estimates of $23.90 billion. During the same quarter in the previous year, the firm earned $2.13 EPS. The company’s quarterly revenue was down 4.4% compared to the same quarter last year. Equities research analysts anticipate that Johnson & Johnson will post 10.5 earnings per share 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 paid a $1.13 dividend. This represents a $4.52 annualized dividend and a yield of 2.94%. The ex-dividend date of this dividend was Friday, February 17th. Johnson & Johnson’s dividend payout ratio is presently 67.06%.

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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