Johnson & Johnson (NYSE:JNJ) Position Reduced by Telos Capital Management Inc.

Posted by on Apr 16th, 2023

Telos Capital Management Inc. cut its holdings in shares of Johnson & Johnson (NYSE:JNJ – Get Rating) by 0.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 75,172 shares of the company’s stock after selling 694 shares during the quarter. Johnson & Johnson makes up approximately 1.9% of Telos Capital Management Inc.’s portfolio, making the stock its 8th largest holding. Telos Capital Management Inc.’s holdings in Johnson & Johnson were worth $13,279,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in JNJ. Glassy Mountain Advisors Inc. purchased a new stake in Johnson & Johnson in the 4th quarter worth approximately $35,000. Retirement Financial Solutions LLC purchased a new stake in Johnson & Johnson in the 4th quarter worth approximately $40,000. TD Capital Management LLC purchased a new stake in Johnson & Johnson in the 3rd quarter worth approximately $48,000. Iron Horse Wealth Management LLC lifted its stake 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 purchasing an additional 159 shares in the last quarter. Finally, Cowa LLC purchased a new stake in Johnson & Johnson in the 3rd quarter worth approximately $58,000. 67.94% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

JNJ has been the topic of several recent analyst reports. Guggenheim initiated coverage on shares of Johnson & Johnson in a research note on Tuesday, February 28th. They issued a “neutral” rating and a $161.00 target price on the stock. Piper Sandler lowered their price objective on shares of Johnson & Johnson from $55.00 to $52.00 in a research report on Monday, February 6th. Morgan Stanley lowered their price objective on shares of Johnson & Johnson from $180.00 to $179.00 and set an “equal weight” rating on the stock in a research report on Monday, April 10th. StockNews.com initiated coverage on shares of Johnson & Johnson in a research report on Thursday, March 16th. They set a “strong-buy” rating on the stock. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $215.00 price objective on shares of Johnson & Johnson in a research report on Wednesday, February 1st. Seven investment 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’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $173.07.

Insiders Place Their Bets

In other Johnson & Johnson 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 value of $164,248.92. Following the sale, the insider now 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 hyperlink. Insiders own 0.20% of the company’s stock.

Johnson & Johnson Price Performance

JNJ stock opened at $165.84 on Friday. 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 has a 52 week low of $150.11 and a 52 week high of $186.69. The firm’s fifty day moving average is $157.46 and its 200 day moving average is $167.02. The firm has a market cap of $431.90 billion, a P/E ratio of 24.61, a P/E/G ratio of 2.83 and a beta of 0.53.

Johnson & Johnson (NYSE:JNJ – Get Rating) last announced its quarterly earnings results on Tuesday, January 24th. The company reported $2.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.22 by $0.13. The business had revenue of $23.71 billion for the quarter, compared to analyst estimates 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 was down 4.4% on a year-over-year basis. During the same quarter last year, the firm earned $2.13 EPS. Research analysts predict that Johnson & Johnson will post 10.49 earnings per share for the current year.

About Johnson & Johnson

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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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