Sound Financial Strategies Group LLC Takes Position in Johnson & Johnson (NYSE:JNJ)

Posted by Defense World Staff on Apr 19th, 2023

Sound Financial Strategies Group LLC acquired a new stake in shares of Johnson & Johnson (NYSE:JNJ – Get Rating) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 2,311 shares of the company’s stock, valued at approximately $408,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Glassy Mountain Advisors Inc. acquired a new stake in Johnson & Johnson during the 4th quarter worth approximately $35,000. Retirement Financial Solutions LLC acquired a new stake in Johnson & Johnson in the fourth quarter valued at approximately $40,000. TD Capital Management LLC acquired a new stake in Johnson & Johnson in the third quarter valued at approximately $48,000. VitalStone Financial LLC acquired a new stake in Johnson & Johnson in the fourth quarter valued at approximately $52,000. Finally, Iron Horse Wealth Management LLC grew its position in Johnson & Johnson by 112.8% in the fourth quarter. Iron Horse Wealth Management LLC now owns 300 shares of the company’s stock valued at $53,000 after acquiring an additional 159 shares in the last quarter. Institutional investors and hedge funds own 67.94% of the company’s stock.

Johnson & Johnson Stock Performance

Shares of JNJ opened at $161.01 on Wednesday. The business’s fifty day moving average price is $157.50 and its 200 day moving average price is $167.03. Johnson & Johnson has a 12-month low of $150.11 and a 12-month high of $186.69. The stock has a market capitalization of $419.32 billion, a PE ratio of 23.89, a price-to-earnings-growth ratio of 2.86 and a beta of 0.53. 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 quarterly earnings data on Tuesday, April 18th. The company reported $2.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.51 by $0.17. The firm had revenue of $24.75 billion for the quarter, compared to analysts’ expectations of $23.61 billion. Johnson & Johnson had a return on equity of 35.76% and a net margin of 18.90%. The firm’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same period last year, the business posted $2.67 earnings per share. Equities research analysts forecast that Johnson & Johnson will post 10.5 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on JNJ shares. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $215.00 price objective on shares of Johnson & Johnson in a research report on Wednesday, February 1st. 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. SVB Leerink reduced their target price 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. Atlantic Securities increased their target price on Johnson & Johnson from $160.00 to $168.00 and gave the company a “neutral” rating in a research note on Wednesday, January 25th. Finally, Guggenheim assumed coverage on Johnson & Johnson in a research note on Tuesday, February 28th. They set a “neutral” rating and a $161.00 target price for the company. Seven investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $173.07.

Insider Buying and Selling at Johnson & Johnson

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 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 in the company, valued at $1,425,191.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.20% of the stock is currently owned by company insiders.

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.