Heritage Financial Services LLC Lowers Stock Position in Johnson & Johnson (NYSE:JNJ)

Posted by on Apr 16th, 2023

Heritage Financial Services LLC cut its position in shares of Johnson & Johnson (NYSE:JNJ – Get Rating) by 1.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,727 shares of the company’s stock after selling 133 shares during the period. Johnson & Johnson accounts for 0.5% of Heritage Financial Services LLC’s holdings, making the stock its 17th biggest position. Heritage Financial Services LLC’s holdings in Johnson & Johnson were worth $1,895,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Glassy Mountain Advisors Inc. purchased a new position in Johnson & Johnson during the fourth quarter valued at $35,000. Retirement Financial Solutions LLC purchased a new position in Johnson & Johnson during the fourth quarter valued at $40,000. TD Capital Management LLC purchased a new position in Johnson & Johnson during the third quarter valued at $48,000. Iron Horse Wealth Management LLC lifted its stake in shares of 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 buying an additional 159 shares in the last quarter. Finally, Cowa LLC purchased a new position in shares of Johnson & Johnson in the third quarter worth about $58,000. 67.94% of the stock is owned by hedge funds and other institutional investors.

Johnson & Johnson Price Performance

Shares of JNJ opened at $165.84 on Friday. Johnson & Johnson has a 1-year low of $150.11 and a 1-year high of $186.69. The stock has a market cap of $431.90 billion, a PE ratio of 24.61, a P/E/G ratio of 2.83 and a beta of 0.53. The firm has a 50-day simple moving average of $157.46 and a two-hundred day simple moving average of $167.02. 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 (NYSE:JNJ – Get Rating) last announced its earnings results on Tuesday, January 24th. The company reported $2.35 earnings per share for the quarter, topping 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 period in the prior year, the firm earned $2.13 EPS. The firm’s revenue for the quarter was down 4.4% on a year-over-year basis. As a group, analysts forecast that Johnson & Johnson will post 10.49 EPS for the current year.

Insider Buying and Selling

In related news, insider James D. Swanson sold 1,062 shares of the company’s stock in a transaction that occurred 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 directly owns 9,215 shares of the company’s stock, valued at approximately $1,425,191.90. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.20% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Atlantic Securities raised their price target 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 assumed coverage on shares of Johnson & Johnson in a research note on Tuesday, February 28th. They issued a “neutral” rating and a $161.00 price target on the stock. Morgan Stanley decreased their price target on shares of Johnson & Johnson from $180.00 to $179.00 and set an “equal weight” rating on the stock in a research note on Monday, April 10th. UBS Group began coverage on shares of Johnson & Johnson in a research report on Tuesday, March 28th. They set a “neutral” rating and a $164.00 price objective for the company. Finally, StockNews.com began coverage on shares of Johnson & Johnson in a research report on Thursday, March 16th. They set a “strong-buy” rating for the company. Seven research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $173.07.

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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