Prentice Wealth Management LLC Boosts Holdings in Johnson & Johnson (NYSE:JNJ)

Posted by Defense World Staff on Mar 29th, 2023

Prentice Wealth Management LLC boosted its position in shares of Johnson & Johnson (NYSE:JNJ – Get Rating) by 8.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,664 shares of the company’s stock after buying an additional 271 shares during the quarter. Prentice Wealth Management LLC’s holdings in Johnson & Johnson were worth $647,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of JNJ. Price T Rowe Associates Inc. MD boosted its stake in Johnson & Johnson by 18.9% during the second quarter. Price T Rowe Associates Inc. MD now owns 24,622,795 shares of the company’s stock worth $4,370,793,000 after buying an additional 3,912,430 shares during the period. Vanguard Group Inc. boosted its stake in shares of Johnson & Johnson by 1.2% during the third quarter. Vanguard Group Inc. now owns 245,340,875 shares of the company’s stock valued at $40,078,885,000 after purchasing an additional 2,815,655 shares during the period. GQG Partners LLC boosted its stake in shares of Johnson & Johnson by 64.4% during the first quarter. GQG Partners LLC now owns 6,501,761 shares of the company’s stock valued at $1,151,931,000 after purchasing an additional 2,547,378 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its stake in shares of Johnson & Johnson by 52.2% during the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 6,102,999 shares of the company’s stock valued at $1,083,329,000 after purchasing an additional 2,093,392 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its stake in shares of Johnson & Johnson by 37.2% during the first quarter. Arrowstreet Capital Limited Partnership now owns 6,653,610 shares of the company’s stock valued at $1,179,219,000 after purchasing an additional 1,805,632 shares during the period. 67.94% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

JNJ has been the subject of a number of recent analyst reports. Morgan Stanley boosted their target price on shares of Johnson & Johnson from $176.00 to $180.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 25th. Citigroup boosted their target price on shares of Johnson & Johnson from $198.00 to $205.00 and gave the company a “buy” rating in a research note on Monday, December 12th. Cantor Fitzgerald restated an “overweight” rating and issued a $215.00 price objective on shares of Johnson & Johnson in a report on Wednesday, February 1st. Piper Sandler decreased their price objective on Johnson & Johnson from $55.00 to $52.00 in a report on Monday, February 6th. Finally, UBS Group began coverage on Johnson & Johnson in a report on Tuesday. They issued a “neutral” rating for the company. Eight investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Johnson & Johnson presently has a consensus rating of “Moderate Buy” and a consensus price target of $174.73.

Insider Activity

In other news, insider James D. Swanson sold 1,062 shares of the company’s stock in a transaction dated Monday, March 6th. The shares were sold at an average price of $154.66, for a total transaction 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 SEC, which is accessible through this hyperlink. Corporate insiders own 0.35% of the company’s stock.

Johnson & Johnson Stock Performance

Shares of Johnson & Johnson stock opened at $151.82 on Wednesday. The company has a market capitalization of $395.38 billion, a PE ratio of 22.53, a P/E/G 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. The company has a 50-day simple moving average of $158.94 and a two-hundred day simple moving average of $167.39. Johnson & Johnson has a one year low of $150.11 and a one year 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 (EPS) for the quarter, beating 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 firm had revenue of $23.71 billion for the quarter, compared to the consensus estimate of $23.90 billion. During the same quarter in the prior year, the company posted $2.13 earnings per share. The company’s revenue for the quarter was down 4.4% compared to the same quarter last year. Research analysts expect that Johnson & Johnson will post 10.5 EPS for the current fiscal year.

Johnson & Johnson Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 7th. Stockholders of record on Tuesday, February 21st were issued a dividend of $1.13 per share. The ex-dividend date was Friday, February 17th. This represents a $4.52 annualized dividend and a dividend yield of 2.98%. Johnson & Johnson’s dividend payout ratio (DPR) is currently 67.06%.

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.