Transform Wealth LLC Purchases 16,024 Shares of Johnson & Johnson (NYSE:JNJ)

Posted by Defense World Staff on Mar 23rd, 2023

Transform Wealth LLC raised its stake in shares of Johnson & Johnson (NYSE:JNJ – Get Rating) by 26.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 76,527 shares of the company’s stock after purchasing an additional 16,024 shares during the period. Johnson & Johnson accounts for about 1.5% of Transform Wealth LLC’s portfolio, making the stock its 14th biggest position. Transform Wealth LLC’s holdings in Johnson & Johnson were worth $13,519,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Glassy Mountain Advisors Inc. purchased a new stake in shares of Johnson & Johnson in the fourth quarter worth approximately $35,000. TD Capital Management LLC purchased a new stake in shares of Johnson & Johnson in the third quarter worth approximately $48,000. Cowa LLC purchased a new stake in shares of Johnson & Johnson in the third quarter worth approximately $58,000. Legend Financial Advisors Inc. purchased a new stake in shares of Johnson & Johnson in the third quarter worth approximately $59,000. Finally, Adirondack Retirement Specialists Inc. purchased a new stake in shares of Johnson & Johnson in the third quarter worth approximately $67,000. 67.94% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Johnson & Johnson

In other Johnson & Johnson news, insider James D. Swanson sold 1,062 shares of Johnson & Johnson stock in a transaction dated Monday, March 6th. The stock was sold at an average price of $154.66, for a total transaction of $164,248.92. Following the completion of the sale, 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 legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.35% of the company’s stock.

Johnson & Johnson Stock Down 1.8 %

Shares of NYSE JNJ opened at $151.05 on Thursday. The company has a current ratio of 0.99, a quick ratio of 0.77 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $393.38 billion, a PE ratio of 22.41, a price-to-earnings-growth ratio of 2.63 and a beta of 0.54. The stock’s fifty day simple moving average is $160.63 and its two-hundred day simple moving average is $167.70. Johnson & Johnson has a 12-month low of $150.71 and a 12-month high of $186.69.

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

Johnson & Johnson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 7th. Stockholders of record on Tuesday, February 21st were given a $1.13 dividend. The ex-dividend date was Friday, February 17th. This represents a $4.52 dividend on an annualized basis and a dividend yield of 2.99%. Johnson & Johnson’s payout ratio is 67.06%.

Analyst Ratings Changes

Several brokerages have recently weighed in on JNJ. SVB Leerink reduced their price target on Johnson & Johnson from $194.00 to $186.00 and set an “outperform” rating on the stock in a report on Friday, January 20th. Cantor Fitzgerald restated an “overweight” rating and set a $215.00 price objective on shares of Johnson & Johnson in a report on Wednesday, February 1st. StockNews.com began coverage on Johnson & Johnson in a report on Thursday, March 16th. They set a “strong-buy” rating on the stock. Citigroup raised their price objective on Johnson & Johnson from $198.00 to $205.00 and gave the stock a “buy” rating in a report on Monday, December 12th. Finally, Morgan Stanley raised their price objective on Johnson & Johnson from $176.00 to $180.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 25th. Seven 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 stock. Based on data from MarketBeat.com, Johnson & Johnson currently has an average rating of “Moderate Buy” and a consensus price target of $174.73.

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.