Wambolt & Associates LLC Acquires 355 Shares of Johnson & Johnson (NYSE:JNJ)

Posted by Defense World Staff on Apr 23rd, 2023

Wambolt & Associates LLC lifted its position in Johnson & Johnson (NYSE:JNJ – Get Rating) by 2.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,528 shares of the company’s stock after purchasing an additional 355 shares during the quarter. Johnson & Johnson accounts for 1.0% of Wambolt & Associates LLC’s portfolio, making the stock its 19th largest position. Wambolt & Associates LLC’s holdings in Johnson & Johnson were worth $2,566,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Glassy Mountain Advisors Inc. acquired a new position in Johnson & Johnson during the fourth quarter worth $35,000. Retirement Financial Solutions LLC acquired a new stake in shares of Johnson & Johnson in the fourth quarter valued at $40,000. TD Capital Management LLC acquired a new stake in shares of Johnson & Johnson in the third quarter valued at $48,000. VitalStone Financial LLC acquired a new stake in shares of Johnson & Johnson in the fourth quarter valued at $52,000. Finally, Iron Horse Wealth Management LLC increased its stake in shares of Johnson & Johnson by 112.8% in the fourth quarter. Iron Horse Wealth Management LLC now owns 300 shares of the company’s stock valued at $53,000 after buying an additional 159 shares in the last quarter. 67.94% of the stock is currently owned by institutional investors and hedge funds.

Johnson & Johnson Trading Down 0.5 %

NYSE JNJ opened at $162.69 on Friday. The business’s 50-day moving average price is $157.49 and its two-hundred day moving average price is $166.96. Johnson & Johnson has a 12 month low of $150.11 and a 12 month high of $186.69. The firm has a market capitalization of $423.69 billion, a PE ratio of 34.04, a price-to-earnings-growth ratio of 2.63 and a beta of 0.53. 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 (NYSE:JNJ – Get Rating) last announced its earnings results on Tuesday, April 18th. The company reported $2.68 EPS 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 quarter in the prior year, the company earned $2.67 EPS. The firm’s revenue for the quarter was up 5.6% compared to the same quarter last year. On average, analysts expect that Johnson & Johnson will post 10.65 EPS for the current year.

Johnson & Johnson Increases Dividend

The company also recently declared 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 annualized dividend and a yield of 2.93%. This is a positive change from Johnson & Johnson’s previous quarterly dividend of $1.13. Johnson & Johnson’s dividend payout ratio is presently 94.56%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Guggenheim assumed coverage on Johnson & Johnson in a report on Tuesday, February 28th. They issued a “neutral” rating and a $161.00 price target on the stock. Piper Sandler decreased their price target on Johnson & Johnson from $55.00 to $52.00 in a report on Monday, February 6th. UBS Group assumed coverage on Johnson & Johnson in a report on Tuesday, March 28th. They issued a “neutral” rating and a $164.00 price target on the stock. Cantor Fitzgerald reiterated an “overweight” rating and issued a $215.00 price target on shares of Johnson & Johnson in a report on Wednesday, February 1st. Finally, Morgan Stanley raised their price target on Johnson & Johnson from $179.00 to $183.00 and gave the company an “equal weight” rating in a report on Wednesday. Seven 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.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $173.00.

Insiders Place Their Bets

In other Johnson & Johnson news, insider James D. Swanson sold 1,062 shares of the stock in a transaction that occurred 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 transaction, the insider now owns 9,215 shares in the company, valued at $1,425,191.90. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.20% of the company’s stock.

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.