Johnson & Johnson (NYSE:JNJ) Shares Sold by Riverstone Advisors LLC

Posted by Defense World Staff on Apr 22nd, 2023

Riverstone Advisors LLC cut its position in shares of Johnson & Johnson (NYSE:JNJ – Get Rating) by 30.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 2,676 shares of the company’s stock after selling 1,164 shares during the quarter. Riverstone Advisors LLC’s holdings in Johnson & Johnson were worth $473,000 as of its most recent filing with the SEC.

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

Johnson & Johnson Price Performance

NYSE JNJ opened at $162.69 on Friday. Johnson & Johnson has a fifty-two week low of $150.11 and a fifty-two week high of $186.69. The stock’s 50-day moving average is $157.48 and its two-hundred day moving average is $166.96. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.99 and a quick ratio of 0.77. The firm has a market cap of $423.69 billion, a P/E ratio of 34.04, a price-to-earnings-growth ratio of 2.63 and a beta of 0.53.

Johnson & Johnson (NYSE:JNJ – Get Rating) last posted its earnings results 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. Johnson & Johnson had a return on equity of 35.53% and a net margin of 13.22%. The company had revenue of $24.75 billion for the quarter, compared to analyst estimates of $23.61 billion. During the same period last year, the company earned $2.67 earnings per share. The business’s revenue was up 5.6% compared to the same quarter last year. On average, analysts anticipate that Johnson & Johnson will post 10.63 earnings per share for the current fiscal year.

Johnson & Johnson Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 6th. Shareholders of record on Tuesday, May 23rd will be issued a dividend of $1.19 per share. This is a positive change from Johnson & Johnson’s previous quarterly dividend of $1.13. This represents a $4.76 annualized dividend and a yield of 2.93%. The ex-dividend date is Monday, May 22nd. Johnson & Johnson’s dividend payout ratio (DPR) is 94.56%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on JNJ shares. StockNews.com started coverage on Johnson & Johnson in a research report on Thursday, March 16th. They issued a “strong-buy” rating for the company. Raymond James decreased their target price on Johnson & Johnson from $185.00 to $181.00 and set an “outperform” rating for the company in a research report on Wednesday. Guggenheim started coverage on Johnson & Johnson in a research report on Tuesday, February 28th. They issued a “neutral” rating and a $161.00 target price for the company. Piper Sandler decreased their target price on Johnson & Johnson from $55.00 to $52.00 in a research report on Monday, February 6th. Finally, Atlantic Securities decreased their target price on Johnson & Johnson from $168.00 to $167.00 and set a “neutral” rating for the company in a research report on Wednesday. Seven equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Johnson & Johnson currently has an average rating of “Moderate Buy” and a consensus price target of $173.00.

Insider Buying and Selling at Johnson & Johnson

In other news, insider James D. Swanson sold 1,062 shares of Johnson & Johnson stock in a transaction dated Monday, March 6th. The stock was sold at an average price of $154.66, for a total value of $164,248.92. Following the transaction, the insider now directly owns 9,215 shares in the company, valued at $1,425,191.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.20% of the company’s stock.

Johnson & Johnson Profile

(Get Rating)

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.