Harbour Capital Advisors LLC Lowers Stake in Johnson & Johnson (NYSE:JNJ)

Posted by Defense World Staff on Mar 23rd, 2023

Harbour Capital Advisors LLC reduced its stake in shares of Johnson & Johnson (NYSE:JNJ – Get Rating) by 1.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 27,028 shares of the company’s stock after selling 269 shares during the quarter. Johnson & Johnson makes up approximately 1.6% of Harbour Capital Advisors LLC’s investment portfolio, making the stock its 14th largest position. Harbour Capital Advisors LLC’s holdings in Johnson & Johnson were worth $4,816,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Glassy Mountain Advisors Inc. purchased a new stake in Johnson & Johnson in the fourth quarter worth about $35,000. TD Capital Management LLC purchased a new stake in Johnson & Johnson in the third quarter worth about $48,000. Cowa LLC purchased a new stake in Johnson & Johnson in the third quarter worth about $58,000. Legend Financial Advisors Inc. purchased a new stake in Johnson & Johnson in the third quarter worth about $59,000. Finally, Piershale Financial Group Inc. purchased a new stake in Johnson & Johnson in the fourth quarter worth about $61,000. 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 that occurred on Monday, March 6th. The shares were sold at an average price of $154.66, for a total value of $164,248.92. Following the transaction, the insider now owns 9,215 shares in the company, valued at approximately $1,425,191.90. The sale was disclosed in a filing with the SEC, which is available through this link. 0.35% of the stock is owned by corporate insiders.

Johnson & Johnson Stock Performance

JNJ opened at $151.05 on Thursday. 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 $393.38 billion, a P/E ratio of 22.41, a price-to-earnings-growth ratio of 2.65 and a beta of 0.54. The firm’s 50-day moving average price is $160.63 and its 200-day moving average price is $167.70.

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 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 the consensus estimate of $23.90 billion. During the same quarter in the prior year, the company posted $2.13 earnings per share. The company’s revenue for the quarter was down 4.4% compared to the same quarter last year. As a group, equities analysts anticipate that Johnson & Johnson will post 10.5 EPS for the current fiscal year.

Johnson & Johnson Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 7th. Investors of record on Tuesday, February 21st were issued a $1.13 dividend. The ex-dividend date of this dividend was Friday, February 17th. This represents a $4.52 annualized dividend and a yield of 2.99%. Johnson & Johnson’s dividend payout ratio (DPR) is presently 67.06%.

Analyst Upgrades and Downgrades

JNJ has been the subject of a number of research reports. StockNews.com started coverage on shares of Johnson & Johnson in a research note on Thursday, March 16th. They issued a “strong-buy” rating for the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $215.00 target price on shares of Johnson & Johnson in a report on Wednesday, February 1st. Citigroup boosted their target price 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 target price 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, Morgan Stanley boosted their target price on shares of Johnson & Johnson from $176.00 to $180.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 25th. Seven equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $174.73.

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.