CHICAGO TRUST Co NA Trims Stake in Johnson & Johnson (NYSE:JNJ)

Posted by Defense World Staff on Mar 22nd, 2023

CHICAGO TRUST Co NA trimmed its holdings in shares of Johnson & Johnson (NYSE:JNJ – Get Rating) by 11.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,466 shares of the company’s stock after selling 2,865 shares during the quarter. Johnson & Johnson comprises about 0.9% of CHICAGO TRUST Co NA’s holdings, making the stock its 22nd largest position. CHICAGO TRUST Co NA’s holdings in Johnson & Johnson were worth $3,792,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Glassy Mountain Advisors Inc. purchased a new position in shares of Johnson & Johnson in the 4th quarter worth about $35,000. TD Capital Management LLC purchased a new position in shares of Johnson & Johnson in the 3rd quarter worth about $48,000. Cowa LLC purchased a new position in shares of Johnson & Johnson in the 3rd quarter worth about $58,000. Legend Financial Advisors Inc. purchased a new position in shares of Johnson & Johnson in the 3rd quarter worth about $59,000. Finally, Adirondack Retirement Specialists Inc. purchased a new position in shares of Johnson & Johnson in the 3rd quarter worth about $67,000. 67.94% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Johnson & Johnson

In other news, insider James D. Swanson sold 1,062 shares of the stock in a transaction that occurred 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 transaction, the insider now owns 9,215 shares of the company’s stock, valued at approximately $1,425,191.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.35% of the company’s stock.

Johnson & Johnson Stock Performance

JNJ opened at $153.89 on Wednesday. The business has a 50 day simple moving average of $161.11 and a two-hundred day simple moving average of $167.82. The firm has a market capitalization of $400.77 billion, a price-to-earnings ratio of 22.83, a PEG ratio of 2.63 and a beta of 0.54. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.99 and a quick ratio of 0.77. Johnson & Johnson has a one year low of $150.71 and a one year high of $186.69.

Johnson & Johnson (NYSE:JNJ – Get Rating) last announced its earnings results on Tuesday, January 24th. The company reported $2.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.22 by $0.13. Johnson & Johnson had a return on equity of 35.76% and a net margin of 18.90%. The firm had revenue of $23.71 billion during the quarter, compared to analyst estimates of $23.90 billion. During the same quarter in the prior year, the company earned $2.13 EPS. The business’s revenue was down 4.4% compared to the same quarter last year. Analysts predict 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. Stockholders of record on Tuesday, February 21st were given a $1.13 dividend. This represents a $4.52 annualized dividend and a dividend yield of 2.94%. The ex-dividend date of this dividend was Friday, February 17th. Johnson & Johnson’s dividend payout ratio is currently 67.06%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on JNJ shares. Cantor Fitzgerald reiterated an “overweight” rating and issued a $215.00 price objective on shares of Johnson & Johnson in a report on Wednesday, February 1st. Citigroup increased their target price on Johnson & Johnson from $198.00 to $205.00 and gave the company a “buy” rating in a report on Monday, December 12th. Piper Sandler dropped their target price on Johnson & Johnson from $55.00 to $52.00 in a report on Monday, February 6th. SVB Leerink dropped their target price on Johnson & Johnson from $194.00 to $186.00 and set an “outperform” rating for the company in a report on Friday, January 20th. Finally, Atlantic Securities increased their target price on Johnson & Johnson from $160.00 to $168.00 and gave the company a “neutral” rating in a report on Wednesday, January 25th. Seven research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $174.73.

Johnson & Johnson Company Profile

(Get Rating)

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.