Advocate Group LLC Has $13.86 Million Position in Johnson & Johnson (NYSE:JNJ)

Posted by Defense World Staff on Mar 28th, 2023

Advocate Group LLC grew its stake in shares of Johnson & Johnson (NYSE:JNJ – Get Rating) by 0.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 78,443 shares of the company’s stock after acquiring an additional 413 shares during the quarter. Johnson & Johnson comprises about 3.0% of Advocate Group LLC’s portfolio, making the stock its 3rd biggest holding. Advocate Group LLC’s holdings in Johnson & Johnson were worth $13,857,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently modified their holdings of the stock. Glassy Mountain Advisors Inc. bought a new stake in shares of Johnson & Johnson during the 4th quarter worth $35,000. TD Capital Management LLC bought a new stake in shares of Johnson & Johnson during the 3rd quarter worth $48,000. Cowa LLC bought a new stake in shares of Johnson & Johnson during the 3rd quarter worth $58,000. Legend Financial Advisors Inc. bought a new stake in shares of Johnson & Johnson during the 3rd quarter worth $59,000. Finally, Piershale Financial Group Inc. bought a new stake in shares of Johnson & Johnson during the 4th quarter worth $61,000. 67.94% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Guggenheim began coverage on Johnson & Johnson in a research report on Tuesday, February 28th. They set a “neutral” rating and a $161.00 price objective for the company. Citigroup increased 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. Atlantic Securities raised their target price on Johnson & Johnson from $160.00 to $168.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 25th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $215.00 target price on shares of Johnson & Johnson in a research note on Wednesday, February 1st. Finally, Piper Sandler decreased their target price on Johnson & Johnson from $55.00 to $52.00 in a research note on Monday, February 6th. Seven investment 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 company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $174.73.

Insider Activity

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 stock was 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 $1,425,191.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.35% of the company’s stock.

Johnson & Johnson Stock Up 0.4 %

Shares of NYSE:JNJ opened at $153.30 on Tuesday. The business’s 50 day simple moving average is $159.35 and its two-hundred day simple moving average is $167.49. The firm has a market cap of $399.24 billion, a P/E ratio of 22.74, a PEG ratio of 2.63 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. Johnson & Johnson has a 52-week low of $150.11 and a 52-week high of $186.69.

Johnson & Johnson (NYSE:JNJ – Get Rating) last announced 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 return on equity of 35.76% and a net margin of 18.90%. The business had revenue of $23.71 billion for the quarter, compared to analyst estimates of $23.90 billion. During the same quarter in the prior year, the company earned $2.13 earnings per share. The company’s quarterly revenue was down 4.4% on a year-over-year basis. As a group, research analysts forecast that Johnson & Johnson will post 10.5 EPS for the current fiscal year.

Johnson & Johnson Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 7th. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.95%. Johnson & Johnson’s dividend payout ratio is presently 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.