Core Alternative Capital Raises Holdings in Johnson & Johnson (NYSE:JNJ)

Posted by on Apr 21st, 2023

Core Alternative Capital boosted its position in shares of Johnson & Johnson (NYSE:JNJ – Get Rating) by 23.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 123,082 shares of the company’s stock after acquiring an additional 23,030 shares during the period. Johnson & Johnson makes up approximately 2.8% of Core Alternative Capital’s holdings, making the stock its 8th largest holding. Core Alternative Capital’s holdings in Johnson & Johnson were worth $21,742,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Glassy Mountain Advisors Inc. bought a new position in Johnson & Johnson during the fourth quarter valued at about $35,000. Retirement Financial Solutions LLC bought a new stake in shares of Johnson & Johnson in the 4th quarter valued at approximately $40,000. TD Capital Management LLC bought a new stake in shares of Johnson & Johnson in the 3rd quarter valued at approximately $48,000. VitalStone Financial LLC bought a new stake in shares of Johnson & Johnson in the 4th quarter valued at approximately $52,000. Finally, Iron Horse Wealth Management LLC grew its stake in shares of Johnson & Johnson by 112.8% in the 4th quarter. Iron Horse Wealth Management LLC now owns 300 shares of the company’s stock valued at $53,000 after purchasing an additional 159 shares during the period. 67.94% of the stock is currently owned by institutional investors.

Johnson & Johnson Trading Up 0.6 %

Shares of JNJ stock opened at $163.58 on Friday. The company has a 50 day moving average of $157.48 and a 200-day moving average of $166.96. The firm has a market cap of $426.01 billion, a P/E ratio of 24.27, a PEG ratio of 2.75 and a beta of 0.53. Johnson & Johnson has a 12-month low of $150.11 and a 12-month high of $186.69. The company has a quick ratio of 0.77, a current ratio of 0.99 and a debt-to-equity ratio of 0.35.

Johnson & Johnson (NYSE:JNJ – Get Rating) last posted its quarterly earnings data on Tuesday, April 18th. The company reported $2.68 earnings per share for the quarter, beating 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 net margin of 18.90% and a return on equity of 35.76%. The business’s quarterly revenue was up 5.6% on a year-over-year basis. During the same quarter last year, the company posted $2.67 EPS. Sell-side analysts anticipate that Johnson & Johnson will post 10.64 earnings per share for the current year.

Johnson & Johnson Increases Dividend

The business 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 dividend of $1.19 per share. This is a positive change from Johnson & Johnson’s previous quarterly dividend of $1.13. The ex-dividend date of this dividend is Monday, May 22nd. This represents a $4.76 dividend on an annualized basis and a dividend yield of 2.91%. Johnson & Johnson’s payout ratio is presently 67.06%.

Insider Buying and Selling

In related news, insider James D. Swanson sold 1,062 shares of the business’s stock in a transaction dated Monday, March 6th. The shares were sold at an average price of $154.66, for a total transaction of $164,248.92. Following the sale, the insider now owns 9,215 shares of the company’s stock, valued at $1,425,191.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.20% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have recently commented on JNJ. Piper Sandler reduced their target price on Johnson & Johnson from $55.00 to $52.00 in a report on Monday, February 6th. SVB Leerink reduced their price objective on Johnson & Johnson from $194.00 to $186.00 and set an “outperform” rating on the stock in a report on Friday, January 20th. Guggenheim initiated coverage on Johnson & Johnson in a research note on Tuesday, February 28th. They issued a “neutral” rating and a $161.00 price target on the stock. Morgan Stanley increased their target price on Johnson & Johnson from $179.00 to $183.00 and gave the stock an “equal weight” rating in a report on Wednesday. Finally, Raymond James reduced their price objective on shares of Johnson & Johnson from $185.00 to $181.00 and set an “outperform” rating for the company 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 given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $173.00.

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.

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Institutional Ownership by Quarter for Johnson & Johnson (NYSE:JNJ)

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