Johnson & Johnson (NYSE:JNJ) Position Cut by Sitrin Capital Management LLC

Posted by Defense World Staff on Mar 29th, 2023

Sitrin Capital Management LLC decreased its position in Johnson & Johnson (NYSE:JNJ – Get Rating) by 4.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 38,240 shares of the company’s stock after selling 1,744 shares during the quarter. Johnson & Johnson accounts for approximately 4.3% of Sitrin Capital Management LLC’s portfolio, making the stock its 5th largest position. Sitrin Capital Management LLC’s holdings in Johnson & Johnson were worth $6,755,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of Johnson & Johnson by 1.2% in the third quarter. Vanguard Group Inc. now owns 245,340,875 shares of the company’s stock worth $40,078,885,000 after acquiring an additional 2,815,655 shares in the last quarter. State Street Corp grew its stake in shares of Johnson & Johnson by 0.6% in the third quarter. State Street Corp now owns 141,886,311 shares of the company’s stock worth $23,178,548,000 after acquiring an additional 803,013 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Johnson & Johnson by 3.3% in the third quarter. Price T Rowe Associates Inc. MD now owns 25,428,626 shares of the company’s stock worth $4,154,022,000 after acquiring an additional 805,831 shares in the last quarter. Legal & General Group Plc grew its stake in shares of Johnson & Johnson by 2.3% in the second quarter. Legal & General Group Plc now owns 18,839,914 shares of the company’s stock worth $3,344,295,000 after acquiring an additional 421,779 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Johnson & Johnson by 1.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 17,189,229 shares of the company’s stock worth $3,046,449,000 after purchasing an additional 328,297 shares in the last quarter. Institutional investors and hedge funds own 67.94% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on JNJ shares. Citigroup boosted their target price on shares of Johnson & Johnson from $198.00 to $205.00 and gave the stock a “buy” rating in a research note on Monday, December 12th. Atlantic Securities boosted their target price on shares of Johnson & Johnson from $160.00 to $168.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 25th. Guggenheim started coverage on shares of Johnson & Johnson in a research note on Tuesday, February 28th. They set a “neutral” rating and a $161.00 target price for the company. UBS Group started coverage on shares of Johnson & Johnson in a research note on Tuesday. They set a “neutral” rating for the company. Finally, Piper Sandler lowered their target price on shares of Johnson & Johnson from $55.00 to $52.00 in a research note on Monday, February 6th. Eight investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average 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 value of $164,248.92. Following the completion of the sale, the insider now directly owns 9,215 shares of the company’s stock, valued at $1,425,191.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.35% of the company’s stock.

Johnson & Johnson Price Performance

Shares of JNJ opened at $151.82 on Wednesday. The firm has a fifty day moving average price of $158.94 and a 200 day moving average price of $167.39. Johnson & Johnson has a 1-year low of $150.11 and a 1-year high of $186.69. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.99 and a quick ratio of 0.77. The stock has a market cap of $395.38 billion, a PE ratio of 22.53, a price-to-earnings-growth ratio of 2.63 and a beta of 0.54.

Johnson & Johnson (NYSE:JNJ – Get Rating) last announced its earnings results on Tuesday, January 24th. The company reported $2.35 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 business had revenue of $23.71 billion during the quarter, compared to analysts’ expectations of $23.90 billion. During the same period in the prior year, the company earned $2.13 earnings per share. The business’s revenue was down 4.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Johnson & Johnson will post 10.5 EPS for the current year.

Johnson & Johnson Dividend Announcement

The firm 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 was Friday, February 17th. This represents a $4.52 dividend on an annualized basis and a dividend yield of 2.98%. Johnson & Johnson’s 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.