PBMares Wealth Management LLC Reduces Stock Holdings in Johnson & Johnson (NYSE:JNJ)

Posted by on Apr 21st, 2023

PBMares Wealth Management LLC trimmed its position in Johnson & Johnson (NYSE:JNJ – Get Rating) by 5.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 9,415 shares of the company’s stock after selling 586 shares during the period. Johnson & Johnson comprises 0.7% of PBMares Wealth Management LLC’s portfolio, making the stock its 27th biggest holding. PBMares Wealth Management LLC’s holdings in Johnson & Johnson were worth $1,663,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Nordwand Advisors LLC bought a new position in shares of Johnson & Johnson in the fourth quarter worth about $785,273,000. Vanguard Group Inc. raised its stake in shares of Johnson & Johnson by 1.2% in the third quarter. Vanguard Group Inc. now owns 245,340,875 shares of the company’s stock worth $40,078,885,000 after buying an additional 2,815,655 shares during the period. GQG Partners LLC raised its stake in shares of Johnson & Johnson by 64.4% in the first quarter. GQG Partners LLC now owns 6,501,761 shares of the company’s stock worth $1,151,931,000 after buying an additional 2,547,378 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in shares of Johnson & Johnson by 37.2% in the first quarter. Arrowstreet Capital Limited Partnership now owns 6,653,610 shares of the company’s stock worth $1,179,219,000 after buying an additional 1,805,632 shares during the period. Finally, First Trust Advisors LP raised its stake in Johnson & Johnson by 62.6% during the 1st quarter. First Trust Advisors LP now owns 2,785,312 shares of the company’s stock valued at $493,640,000 after purchasing an additional 1,072,104 shares during the period. 67.94% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Johnson & Johnson

In related news, insider James D. Swanson sold 1,062 shares of the business’s stock in a transaction on Monday, March 6th. The stock was sold at an average price of $154.66, for a total transaction of $164,248.92. Following the completion of the transaction, 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 available through this hyperlink. 0.20% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

JNJ has been the topic of several recent analyst reports. Atlantic Securities decreased their target price on Johnson & Johnson from $168.00 to $167.00 and set a “neutral” rating on the stock in a research note on Wednesday. SVB Leerink decreased their target price on Johnson & Johnson from $194.00 to $186.00 and set an “outperform” rating on the stock in a research note on Friday, January 20th. Piper Sandler decreased their target price on Johnson & Johnson from $55.00 to $52.00 in a research note on Monday, February 6th. 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 on the stock. Finally, Morgan Stanley lifted their price objective on Johnson & Johnson from $179.00 to $183.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Seven equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $173.00.

Johnson & Johnson Price Performance

Shares of Johnson & Johnson stock opened at $163.58 on Friday. The stock has a market cap of $426.01 billion, a price-to-earnings ratio of 24.27, a price-to-earnings-growth ratio of 2.75 and a beta of 0.53. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.77 and a current ratio of 0.99. The stock has a 50 day moving average price of $157.48 and a 200-day moving average price of $166.96. Johnson & Johnson has a one year low of $150.11 and a one year high of $186.69.

Johnson & Johnson (NYSE:JNJ – Get Rating) last announced its earnings results on Tuesday, April 18th. The company reported $2.68 EPS for the quarter, topping analysts’ consensus estimates of $2.51 by $0.17. The firm had revenue of $24.75 billion during 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 company’s quarterly revenue was up 5.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.67 EPS. Equities analysts expect that Johnson & Johnson will post 10.64 EPS for the current year.

Johnson & Johnson Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 6th. Investors of record on Tuesday, May 23rd will be issued a dividend of $1.19 per share. 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 boost from Johnson & Johnson’s previous quarterly dividend of $1.13. Johnson & Johnson’s payout ratio is presently 67.06%.

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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