Narwhal Capital Management Acquires 2,168 Shares of Johnson & Johnson (NYSE:JNJ)

Posted by Defense World Staff on Apr 20th, 2023

Narwhal Capital Management increased its holdings in shares of Johnson & Johnson (NYSE:JNJ – Get Rating) by 2.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 86,752 shares of the company’s stock after buying an additional 2,168 shares during the period. Johnson & Johnson comprises approximately 2.0% of Narwhal Capital Management’s portfolio, making the stock its 10th largest position. Narwhal Capital Management’s holdings in Johnson & Johnson were worth $15,325,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in JNJ. Nordwand Advisors LLC acquired a new position in shares of Johnson & Johnson in the 4th quarter worth approximately $785,273,000. Vanguard Group Inc. lifted its position in shares of Johnson & Johnson by 1.2% in the 3rd quarter. Vanguard Group Inc. now owns 245,340,875 shares of the company’s stock worth $40,078,885,000 after purchasing an additional 2,815,655 shares during the period. GQG Partners LLC lifted its position in shares of Johnson & Johnson by 64.4% in the 1st quarter. GQG Partners LLC now owns 6,501,761 shares of the company’s stock worth $1,151,931,000 after purchasing an additional 2,547,378 shares during the period. Arrowstreet Capital Limited Partnership lifted its position in shares of Johnson & Johnson by 37.2% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 6,653,610 shares of the company’s stock worth $1,179,219,000 after purchasing an additional 1,805,632 shares during the period. Finally, First Trust Advisors LP lifted its position in shares of Johnson & Johnson by 62.6% in the 1st quarter. First Trust Advisors LP now owns 2,785,312 shares of the company’s stock worth $493,640,000 after purchasing an additional 1,072,104 shares during the period. 67.94% of the stock is currently owned by institutional investors and hedge funds.

Johnson & Johnson Stock Performance

Shares of JNJ stock opened at $162.53 on Thursday. The firm has a market capitalization of $423.27 billion, a PE ratio of 24.11, a price-to-earnings-growth ratio of 2.86 and a beta of 0.53. The firm has a fifty day simple moving average of $157.43 and a two-hundred day simple moving average of $166.99. The company has a current ratio of 0.99, a quick ratio of 0.77 and a debt-to-equity ratio of 0.35. Johnson & Johnson has a 12 month low of $150.11 and a 12 month high of $186.69.

Johnson & Johnson (NYSE:JNJ – Get Rating) last posted its earnings results 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. Johnson & Johnson had a net margin of 18.90% and a return on equity of 35.76%. The firm had revenue of $24.75 billion during the quarter, compared to analyst estimates of $23.61 billion. During the same quarter in the prior year, the business posted $2.67 EPS. The business’s revenue was up 5.6% compared to the same quarter last year. Analysts forecast that Johnson & Johnson will post 10.5 EPS for the current fiscal year.

Johnson & Johnson Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 6th. Stockholders of record on Tuesday, May 23rd will be paid a $1.19 dividend. This is a positive change from Johnson & Johnson’s previous quarterly dividend of $1.13. The ex-dividend date is Monday, May 22nd. This represents a $4.76 annualized dividend and a dividend yield of 2.93%. Johnson & Johnson’s dividend payout ratio is presently 67.06%.

Wall Street Analyst Weigh In

JNJ has been the topic of a number of recent analyst reports. Piper Sandler dropped their price target on shares of Johnson & Johnson from $55.00 to $52.00 in a research report on Monday, February 6th. Guggenheim started coverage on shares of Johnson & Johnson in a research note on Tuesday, February 28th. They issued a “neutral” rating and a $161.00 price objective for the company. SVB Leerink lowered their price objective on shares of Johnson & Johnson from $194.00 to $186.00 and set an “outperform” rating for the company in a research note on Friday, January 20th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $215.00 price objective on shares of Johnson & Johnson in a research note on Wednesday, February 1st. Finally, Raymond James lowered their price objective on shares of Johnson & Johnson from $185.00 to $181.00 in a research note on Wednesday. Seven research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $173.07.

Insider Transactions at Johnson & Johnson

In other 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 value of $164,248.92. Following the completion of the sale, the insider now owns 9,215 shares in the company, valued at approximately $1,425,191.90. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.20% of the company’s stock.

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.