Hennion & Walsh Asset Management Inc. Increases Stake in Johnson & Johnson (NYSE:JNJ)

Posted by Defense World Staff on Mar 22nd, 2023

Hennion & Walsh Asset Management Inc. boosted its position in shares of Johnson & Johnson (NYSE:JNJ – Get Rating) by 7.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 53,373 shares of the company’s stock after buying an additional 3,631 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Johnson & Johnson were worth $9,428,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Glassy Mountain Advisors Inc. bought a new stake in Johnson & Johnson during the 4th quarter valued at $35,000. TD Capital Management LLC bought a new stake in Johnson & Johnson during the 3rd quarter valued at $48,000. Cowa LLC bought a new stake in Johnson & Johnson during the 3rd quarter valued at $58,000. Legend Financial Advisors Inc. bought a new stake in Johnson & Johnson during the 3rd quarter valued at $59,000. Finally, Adirondack Retirement Specialists Inc. bought a new stake in Johnson & Johnson during the 3rd quarter valued at $67,000. 67.94% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Johnson & Johnson news, insider James D. Swanson sold 1,062 shares of the firm’s stock in a transaction that occurred on 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 approximately $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.

Analyst Ratings Changes

Several brokerages have commented on JNJ. Atlantic Securities upped 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. SVB Leerink decreased their price objective on shares of Johnson & Johnson from $194.00 to $186.00 and set an “outperform” rating for the company in a report on Friday, January 20th. Cantor Fitzgerald restated an “overweight” rating and issued a $215.00 price objective on shares of Johnson & Johnson in a report on Wednesday, February 1st. Guggenheim assumed coverage on shares of Johnson & Johnson in a research report on Tuesday, February 28th. They set a “neutral” rating and a $161.00 price objective on the stock. Finally, Citigroup increased their price objective on shares of Johnson & Johnson from $198.00 to $205.00 and gave the company a “buy” rating in a research report on Monday, December 12th. Seven investment 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. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $174.73.

Johnson & Johnson Stock Performance

Shares of NYSE JNJ opened at $153.89 on Wednesday. The firm’s 50-day moving average price is $161.11 and its 200-day moving average price is $167.82. 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 company has a market cap of $400.77 billion, a PE ratio of 22.83, a PEG ratio of 2.63 and a beta of 0.54.

Johnson & Johnson (NYSE:JNJ – Get Rating) last issued 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. Johnson & Johnson had a net margin of 18.90% and a return on equity of 35.76%. The firm had revenue of $23.71 billion for the quarter, compared to analysts’ expectations of $23.90 billion. During the same quarter in the prior year, the business earned $2.13 EPS. The business’s quarterly revenue was down 4.4% on a year-over-year basis. As a group, 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 paid a dividend of $1.13 per share. This represents a $4.52 dividend on an annualized basis and a yield of 2.94%. The ex-dividend date of this dividend was Friday, February 17th. Johnson & Johnson’s payout ratio is 67.06%.

About Johnson & Johnson

(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.

Want to see what other hedge funds are holding JNJ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Johnson & Johnson (NYSE:JNJ – Get Rating).

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

Receive News & Ratings for Johnson & Johnson Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Johnson & Johnson and related companies with MarketBeat.com's FREE daily email newsletter.