KFA Private Wealth Group LLC Lowers Stake in Johnson & Johnson (NYSE:JNJ)

Posted by Defense World Staff on Apr 23rd, 2023

KFA Private Wealth Group LLC reduced its position in shares of Johnson & Johnson (NYSE:JNJ – Get Rating) by 8.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,555 shares of the company’s stock after selling 501 shares during the quarter. Johnson & Johnson accounts for approximately 0.5% of KFA Private Wealth Group LLC’s investment portfolio, making the stock its 28th biggest holding. KFA Private Wealth Group LLC’s holdings in Johnson & Johnson were worth $981,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Glassy Mountain Advisors Inc. purchased a new position in Johnson & Johnson in the 4th quarter valued at about $35,000. Retirement Financial Solutions LLC purchased a new position in Johnson & Johnson in the 4th quarter valued at about $40,000. TD Capital Management LLC purchased a new position in Johnson & Johnson in the 3rd quarter valued at about $48,000. VitalStone Financial LLC purchased a new position in Johnson & Johnson in the 4th quarter valued at about $52,000. Finally, Iron Horse Wealth Management LLC lifted its stake in 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 buying an additional 159 shares in the last quarter. 67.94% of the stock is owned by hedge funds and other institutional investors.

Johnson & Johnson Stock Down 0.5 %

Johnson & Johnson stock 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 company has a debt-to-equity ratio of 0.35, a quick ratio of 0.77 and a current ratio of 0.99. The firm has a 50 day moving average price of $157.49 and a 200 day moving average price of $166.96. The company 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.

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 net margin of 13.22% and a return on equity of 35.53%. The firm had revenue of $24.75 billion during the quarter, compared to the consensus estimate of $23.61 billion. During the same quarter last year, the firm earned $2.67 EPS. The firm’s revenue for the quarter was up 5.6% on a year-over-year basis. Research analysts expect that Johnson & Johnson will post 10.65 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. Investors of record on Tuesday, May 23rd will be issued a $1.19 dividend. This represents a $4.76 annualized dividend and a yield of 2.93%. The ex-dividend date of this dividend is Monday, May 22nd. This is an increase from Johnson & Johnson’s previous quarterly dividend of $1.13. Johnson & Johnson’s dividend payout ratio (DPR) is 94.56%.

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 that occurred on Monday, March 6th. The shares were sold at an average price of $154.66, for a total value of $164,248.92. Following the completion of the transaction, the insider now 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 is accessible through this link. 0.20% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. StockNews.com assumed coverage on shares of Johnson & Johnson in a research note on Thursday, March 16th. They issued a “strong-buy” rating on the stock. Guggenheim assumed coverage on shares of Johnson & Johnson in a research note on Tuesday, February 28th. They issued a “neutral” rating and a $161.00 target price on the stock. Raymond James decreased their target price on shares of Johnson & Johnson from $185.00 to $181.00 and set an “outperform” rating on the stock in a research note on Wednesday. UBS Group assumed coverage on shares of Johnson & Johnson in a research note on Tuesday, March 28th. They issued a “neutral” rating and a $164.00 target price on the stock. Finally, Morgan Stanley raised their target price on shares of Johnson & Johnson from $179.00 to $183.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Seven investment 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 stock. Based on data from MarketBeat, Johnson & Johnson has an average rating of “Moderate Buy” and a consensus price target of $173.00.

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.