Gofen & Glossberg LLC IL Lowers Holdings in Johnson & Johnson (NYSE:JNJ)

Posted by Defense World Staff on Mar 24th, 2023

Gofen & Glossberg LLC IL decreased its position in Johnson & Johnson (NYSE:JNJ – Get Rating) by 0.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 543,403 shares of the company’s stock after selling 3,275 shares during the quarter. Johnson & Johnson accounts for approximately 2.5% of Gofen & Glossberg LLC IL’s holdings, making the stock its 6th biggest holding. Gofen & Glossberg LLC IL’s holdings in Johnson & Johnson were worth $95,992,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. DORCHESTER WEALTH MANAGEMENT Co lifted its position in Johnson & Johnson by 8.6% during the 1st quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 67,618 shares of the company’s stock worth $14,975,000 after buying an additional 5,327 shares in the last quarter. Cantor Fitzgerald Investment Advisor L.P lifted its position in Johnson & Johnson by 88.9% during the 1st quarter. Cantor Fitzgerald Investment Advisor L.P now owns 175,194 shares of the company’s stock worth $31,049,000 after buying an additional 82,429 shares in the last quarter. AMI Investment Management Inc. lifted its position in Johnson & Johnson by 8.8% during the 1st quarter. AMI Investment Management Inc. now owns 18,305 shares of the company’s stock worth $3,244,000 after buying an additional 1,475 shares in the last quarter. Equitable Holdings Inc. lifted its position in Johnson & Johnson by 4.9% during the 1st quarter. Equitable Holdings Inc. now owns 45,673 shares of the company’s stock worth $8,095,000 after buying an additional 2,119 shares in the last quarter. Finally, USS Investment Management Ltd lifted its position in Johnson & Johnson by 2.4% during the 1st quarter. USS Investment Management Ltd now owns 860,371 shares of the company’s stock worth $152,488,000 after buying an additional 20,528 shares in the last quarter. Institutional investors own 67.94% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. StockNews.com initiated coverage on shares of Johnson & Johnson in a research report on Thursday, March 16th. They set a “strong-buy” rating on the stock. Atlantic Securities upped their target price on shares of Johnson & Johnson from $160.00 to $168.00 and gave the company a “neutral” rating in a research report on Wednesday, January 25th. Piper Sandler lowered their price target on Johnson & Johnson from $55.00 to $52.00 in a research note on Monday, February 6th. Citigroup upped their price target on Johnson & Johnson from $198.00 to $205.00 and gave the company a “buy” rating in a research note on Monday, December 12th. Finally, SVB Leerink lowered their price target on Johnson & Johnson from $194.00 to $186.00 and set an “outperform” rating for the company in a research note on Friday, January 20th. Seven investment 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’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $174.73.

Johnson & Johnson Price Performance

NYSE JNJ opened at $151.13 on Friday. The stock has a market cap of $393.59 billion, a price-to-earnings ratio of 22.42, a PEG ratio of 2.65 and a beta of 0.54. Johnson & Johnson has a 52-week low of $150.11 and a 52-week high of $186.69. The business has a 50 day simple moving average of $160.17 and a 200 day simple moving average of $167.59. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.77 and a current ratio of 0.99.

Johnson & Johnson (NYSE:JNJ – Get Rating) last issued its quarterly earnings results 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. The company had revenue of $23.71 billion during the quarter, compared to analysts’ expectations of $23.90 billion. Johnson & Johnson had a net margin of 18.90% and a return on equity of 35.76%. The business’s quarterly revenue was down 4.4% on a year-over-year basis. During the same period last year, the business earned $2.13 EPS. Analysts anticipate that Johnson & Johnson will post 10.5 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

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

Insider Transactions at Johnson & Johnson

In other 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 completion of the transaction, the insider now directly owns 9,215 shares of the company’s stock, valued at approximately $1,425,191.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.35% of the company’s stock.

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.