Montecito Bank & Trust Decreases Stock Position in Johnson & Johnson (NYSE:JNJ)

Posted by Defense World Staff on Apr 3rd, 2023

Montecito Bank & Trust cut its holdings in Johnson & Johnson (NYSE:JNJ – Get Rating) by 0.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 22,510 shares of the company’s stock after selling 127 shares during the quarter. Johnson & Johnson comprises 1.0% of Montecito Bank & Trust’s holdings, making the stock its 25th largest position. Montecito Bank & Trust’s holdings in Johnson & Johnson were worth $3,976,000 as of its most recent SEC filing.

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

Johnson & Johnson Stock Up 1.0 %

Shares of JNJ opened at $155.00 on Monday. The company has a current ratio of 0.99, a quick ratio of 0.77 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 stock’s 50 day moving average is $158.02 and its two-hundred day moving average is $167.18. The firm has a market cap of $403.66 billion, a P/E ratio of 23.00, a PEG ratio of 2.64 and a beta of 0.54.

Johnson & Johnson (NYSE:JNJ – Get Rating) last issued its quarterly earnings data on Tuesday, January 24th. The company reported $2.35 EPS for the quarter, beating 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 company had revenue of $23.71 billion for the quarter, compared to analyst estimates of $23.90 billion. During the same period last year, the company earned $2.13 earnings per share. Johnson & Johnson’s quarterly revenue was down 4.4% compared to the same quarter last year. Analysts predict that Johnson & Johnson will post 10.5 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 7th. Stockholders of record on Tuesday, February 21st were paid a $1.13 dividend. This represents a $4.52 dividend on an annualized basis and a dividend yield of 2.92%. The ex-dividend date was Friday, February 17th. Johnson & Johnson’s dividend payout ratio is presently 67.06%.

Analyst Ratings Changes

Several brokerages have recently issued reports on JNJ. Atlantic Securities raised their price objective on Johnson & Johnson from $160.00 to $168.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 25th. SVB Leerink reduced their price objective 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. Piper Sandler reduced their price objective on Johnson & Johnson from $55.00 to $52.00 in a research note on Monday, February 6th. UBS Group began coverage on Johnson & Johnson in a research note on Tuesday, March 28th. They issued a “neutral” rating and a $164.00 price objective for the company. Finally, Guggenheim assumed coverage on Johnson & Johnson in a research note on Tuesday, February 28th. They issued a “neutral” rating and a $161.00 price objective for the company. Eight analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Johnson & Johnson has a consensus rating of “Moderate Buy” and an average price target of $173.67.

Insider Transactions at Johnson & Johnson

In other news, insider James D. Swanson sold 1,062 shares of Johnson & Johnson 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 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 accessible through this hyperlink. Corporate insiders own 0.35% of the company’s stock.

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.