Ferguson Wellman Capital Management Inc. Buys 266,623 Shares of Johnson & Johnson (NYSE:JNJ)

Posted by on Mar 23rd, 2023

Ferguson Wellman Capital Management Inc. raised its stake in Johnson & Johnson (NYSE:JNJ – Get Rating) by 94.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 548,610 shares of the company’s stock after buying an additional 266,623 shares during the quarter. Johnson & Johnson accounts for about 2.5% of Ferguson Wellman Capital Management Inc.’s holdings, making the stock its 6th biggest position. Ferguson Wellman Capital Management Inc.’s holdings in Johnson & Johnson were worth $96,912,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in JNJ. Glassy Mountain Advisors Inc. bought a new stake in Johnson & Johnson in the fourth quarter worth approximately $35,000. TD Capital Management LLC bought a new stake in Johnson & Johnson in the third quarter worth approximately $48,000. Cowa LLC bought a new stake in Johnson & Johnson in the third quarter worth approximately $58,000. Legend Financial Advisors Inc. bought a new stake in Johnson & Johnson in the third quarter worth approximately $59,000. Finally, Piershale Financial Group Inc. bought a new stake in Johnson & Johnson in the fourth quarter worth approximately $61,000. Institutional investors and hedge funds own 67.94% of the company’s stock.

Wall Street Analyst Weigh In

JNJ has been the subject of several recent analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $215.00 price objective on shares of Johnson & Johnson in a report on Wednesday, February 1st. StockNews.com initiated coverage on shares of Johnson & Johnson in a report on Thursday, March 16th. They set a “strong-buy” rating for the company. 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. Finally, Guggenheim initiated coverage on shares of Johnson & Johnson in a report on Tuesday, February 28th. They set a “neutral” rating and a $161.00 price objective for the company. Seven research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Johnson & Johnson presently has an average rating of “Moderate Buy” and an average target price of $174.73.

Johnson & Johnson Trading Down 1.8 %

Shares of JNJ stock 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 stock has a market cap of $393.38 billion, a price-to-earnings ratio of 22.41, a P/E/G ratio of 2.65 and a beta of 0.54. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.77 and a current ratio of 0.99. The firm has a fifty day moving average of $160.63 and a 200-day moving average of $167.70.

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

Johnson & Johnson Announces Dividend

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

Insider Activity

In other news, insider James D. Swanson sold 1,062 shares of the stock in a transaction 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 completion of 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 at this link. Corporate insiders own 0.35% of the company’s stock.

Johnson & Johnson 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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