Range Financial Group LLC Buys 104 Shares of Johnson & Johnson (NYSE:JNJ)

Posted by on Mar 24th, 2023

Range Financial Group LLC lifted its stake in shares of Johnson & Johnson (NYSE:JNJ – Get Rating) by 3.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,535 shares of the company’s stock after purchasing an additional 104 shares during the quarter. Range Financial Group LLC’s holdings in Johnson & Johnson were worth $624,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Glassy Mountain Advisors Inc. bought a new position in Johnson & Johnson in the 4th quarter valued at about $35,000. TD Capital Management LLC bought a new position in Johnson & Johnson in the 3rd quarter valued at about $48,000. Cowa LLC bought a new position in Johnson & Johnson in the 3rd quarter valued at about $58,000. Legend Financial Advisors Inc. bought a new position in Johnson & Johnson in the 3rd quarter valued at about $59,000. Finally, Piershale Financial Group Inc. bought a new position in Johnson & Johnson in the 4th quarter valued at about $61,000. Institutional investors own 67.94% of the company’s stock.

Insider Activity at Johnson & Johnson

In related news, insider James D. Swanson sold 1,062 shares of Johnson & Johnson 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 completion of the transaction, the insider now directly owns 9,215 shares in the company, valued at approximately $1,425,191.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.35% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages recently weighed in on JNJ. Morgan Stanley raised their price target on shares of Johnson & Johnson from $176.00 to $180.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 25th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $215.00 price objective on shares of Johnson & Johnson in a research note on Wednesday, February 1st. Atlantic Securities increased their price objective on shares of Johnson & Johnson from $160.00 to $168.00 and gave the company a “neutral” rating in a research note on Wednesday, January 25th. 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. Finally, Guggenheim started coverage on shares of Johnson & Johnson in a research note on Tuesday, February 28th. They issued 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 MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $174.73.

Johnson & Johnson Trading Up 0.1 %

Shares of JNJ stock opened at $151.13 on Friday. The company has a 50 day moving average of $160.17 and a 200-day moving average of $167.59. The company has a quick ratio of 0.77, a current ratio of 0.99 and a debt-to-equity ratio of 0.35. Johnson & Johnson has a 12-month low of $150.11 and a 12-month high of $186.69. The firm has a market cap of $393.59 billion, a P/E ratio of 22.42, a PEG ratio of 2.65 and a beta of 0.54.

Johnson & Johnson (NYSE:JNJ – Get Rating) last issued its quarterly earnings results on Tuesday, January 24th. The company reported $2.35 earnings per share (EPS) 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 company had revenue of $23.71 billion during the quarter, compared to analyst estimates of $23.90 billion. During the same quarter last year, the business posted $2.13 EPS. Johnson & Johnson’s quarterly revenue was down 4.4% compared to the same quarter last year. Sell-side analysts anticipate that Johnson & Johnson will post 10.5 earnings per share for the current year.

Johnson & Johnson Announces Dividend

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

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.

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

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