WestEnd Advisors LLC Reduces Holdings in Johnson & Johnson (NYSE:JNJ)

Posted by on Apr 21st, 2023

WestEnd Advisors LLC decreased its holdings in Johnson & Johnson (NYSE:JNJ – Get Rating) by 5.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 194,740 shares of the company’s stock after selling 11,086 shares during the quarter. Johnson & Johnson accounts for about 1.1% of WestEnd Advisors LLC’s investment portfolio, making the stock its 21st largest position. WestEnd Advisors LLC’s holdings in Johnson & Johnson were worth $34,401,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the company. Glassy Mountain Advisors Inc. bought a new stake in shares of Johnson & Johnson during the fourth quarter valued at approximately $35,000. Retirement Financial Solutions LLC bought a new stake in Johnson & Johnson in the fourth quarter worth $40,000. TD Capital Management LLC bought a new position in Johnson & Johnson during the third quarter valued at $48,000. VitalStone Financial LLC bought a new position in Johnson & Johnson during the fourth quarter valued at $52,000. Finally, Iron Horse Wealth Management LLC increased its position in Johnson & Johnson by 112.8% during 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 during the last quarter. Hedge funds and other institutional investors own 67.94% of the company’s stock.

Johnson & Johnson Trading Up 0.6 %

Johnson & Johnson stock opened at $163.58 on Friday. 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. The stock’s 50 day simple moving average is $157.48 and its two-hundred day simple moving average is $166.96. The firm has a market cap of $426.01 billion, a PE ratio of 24.27, a P/E/G ratio of 2.75 and a beta of 0.53.

Johnson & Johnson (NYSE:JNJ – Get Rating) last announced its earnings results on Tuesday, April 18th. The company reported $2.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.51 by $0.17. Johnson & Johnson had a return on equity of 35.76% and a net margin of 18.90%. The firm had revenue of $24.75 billion for the quarter, compared to analyst estimates of $23.61 billion. During the same quarter last year, the firm posted $2.67 EPS. The business’s revenue was up 5.6% on a year-over-year basis. Analysts anticipate that Johnson & Johnson will post 10.64 earnings per share for the current year.

Johnson & Johnson Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 6th. Shareholders of record on Tuesday, May 23rd will be issued a $1.19 dividend. The ex-dividend date is Monday, May 22nd. This represents a $4.76 dividend on an annualized basis and a yield of 2.91%. This is a positive change from Johnson & Johnson’s previous quarterly dividend of $1.13. Johnson & Johnson’s dividend payout ratio (DPR) is presently 67.06%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on JNJ. Guggenheim began coverage on shares of Johnson & Johnson in a research note on Tuesday, February 28th. They set a “neutral” rating and a $161.00 target price for the company. 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. Atlantic Securities decreased their price target on shares of Johnson & Johnson from $168.00 to $167.00 and set a “neutral” rating for the company in a research report on Wednesday. Piper Sandler cut their price objective on shares of Johnson & Johnson from $55.00 to $52.00 in a report on Monday, February 6th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $215.00 price objective on shares of Johnson & Johnson in a report on Wednesday, February 1st. 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 company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $173.00.

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 completion of 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.20% of the stock is currently owned by insiders.

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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