Proffitt & Goodson Inc. Sells 77 Shares of Johnson & Johnson (NYSE:JNJ)

Posted by on Apr 3rd, 2023

Proffitt & Goodson Inc. cut its stake in shares of Johnson & Johnson (NYSE:JNJ – Get Rating) by 0.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,203 shares of the company’s stock after selling 77 shares during the quarter. Proffitt & Goodson Inc.’s holdings in Johnson & Johnson were worth $1,626,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Glassy Mountain Advisors Inc. purchased a new position in Johnson & Johnson in the 4th quarter worth approximately $35,000. Retirement Financial Solutions LLC bought a new stake in Johnson & Johnson in the 4th quarter worth about $40,000. TD Capital Management LLC bought a new stake in Johnson & Johnson in the 3rd quarter worth about $48,000. Iron Horse Wealth Management LLC increased its holdings in Johnson & Johnson by 112.8% in the 4th quarter. Iron Horse Wealth Management LLC now owns 300 shares of the company’s stock worth $53,000 after buying an additional 159 shares in the last quarter. Finally, Piershale Financial Group Inc. bought a new stake in Johnson & Johnson in the 4th quarter worth about $61,000. 67.94% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Johnson & Johnson

In related news, insider James D. Swanson sold 1,062 shares of the company’s stock in a transaction on Monday, March 6th. The shares were sold at an average price of $154.66, for a total transaction of $164,248.92. Following the completion of the transaction, the insider now owns 9,215 shares in the company, valued at $1,425,191.90. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.35% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on JNJ. Citigroup raised their target price on shares of Johnson & Johnson from $198.00 to $205.00 and gave the stock a “buy” rating in a report on Monday, December 12th. UBS Group began coverage on shares of Johnson & Johnson in a report on Tuesday, March 28th. They issued a “neutral” rating and a $164.00 target price on the stock. Atlantic Securities increased their target price on Johnson & Johnson from $160.00 to $168.00 and gave the company a “neutral” rating in a report on Wednesday, January 25th. Cantor Fitzgerald restated an “overweight” rating and set a $215.00 price target on shares of Johnson & Johnson in a research note on Wednesday, February 1st. Finally, SVB Leerink lowered their price objective on shares of Johnson & Johnson from $194.00 to $186.00 and set an “outperform” rating on the stock in a research note on Friday, January 20th. Eight 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 company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $173.67.

Johnson & Johnson Price Performance

Shares of NYSE:JNJ opened at $155.00 on Monday. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.99 and a quick ratio of 0.77. Johnson & Johnson has a 1-year low of $150.11 and a 1-year high of $186.69. The company has a market capitalization of $403.66 billion, a P/E ratio of 23.00, a P/E/G ratio of 2.64 and a beta of 0.54. The firm’s 50 day simple moving average is $158.02 and its two-hundred day simple moving average is $167.18.

Johnson & Johnson (NYSE:JNJ – Get Rating) last issued its quarterly earnings results on Tuesday, January 24th. The company reported $2.35 earnings per share for the quarter, beating the consensus estimate of $2.22 by $0.13. The business had revenue of $23.71 billion for the quarter, compared to the consensus estimate of $23.90 billion. Johnson & Johnson had a net margin of 18.90% and a return on equity of 35.76%. The company’s revenue for the quarter was down 4.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.13 earnings per share. Research analysts expect that Johnson & Johnson will post 10.5 EPS for the current fiscal year.

Johnson & Johnson Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 7th. Shareholders 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 dividend on an annualized basis and a yield of 2.92%. 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.

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

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