Canvas Wealth Advisors LLC Boosts Stock Holdings in Johnson & Johnson (NYSE:JNJ)

Posted by on Apr 5th, 2023

Canvas Wealth Advisors LLC increased its holdings in shares of Johnson & Johnson (NYSE:JNJ – Get Rating) by 7.1% during the fourth quarter, Holdings Channel.com reports. The firm owned 5,185 shares of the company’s stock after buying an additional 342 shares during the period. Canvas Wealth Advisors LLC’s holdings in Johnson & Johnson were worth $880,000 as of its most recent SEC filing.

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

Insider Activity at Johnson & Johnson

In related news, insider James D. Swanson sold 1,062 shares of the firm’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 sale, the insider now owns 9,215 shares in the company, valued at $1,425,191.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 0.20% of the company’s stock.

Johnson & Johnson Price Performance

Shares of JNJ opened at $158.49 on Wednesday. The business’s 50-day moving average is $157.59 and its two-hundred day moving average is $167.05. The company has a market capitalization of $412.75 billion, a P/E ratio of 23.51, a P/E/G ratio of 2.67 and a beta of 0.53. Johnson & Johnson has a fifty-two week low of $150.11 and a fifty-two week high of $186.69. 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 (NYSE:JNJ – Get Rating) last posted its earnings results on Tuesday, January 24th. The company reported $2.35 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 firm 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 revenue for the quarter was down 4.4% compared to the same quarter last year. Research analysts predict that Johnson & Johnson will post 10.5 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages recently weighed in on JNJ. StockNews.com started coverage on Johnson & Johnson in a research note on Thursday, March 16th. They set a “strong-buy” rating on the stock. UBS Group began coverage on shares of Johnson & Johnson in a report on Tuesday, March 28th. They set a “neutral” rating and a $164.00 price objective on the stock. 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. SVB Leerink cut their price target 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. Finally, Morgan Stanley lifted their price objective on shares of Johnson & Johnson from $176.00 to $180.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 25th. 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 stock. According to data from MarketBeat, Johnson & Johnson presently has an average rating of “Moderate Buy” and a consensus price target of $173.67.

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.

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

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