Baxter Bros Inc. Trims Stock Position in Johnson & Johnson (NYSE:JNJ)

Posted by Defense World Staff on Apr 23rd, 2023

Baxter Bros Inc. cut its position in shares of Johnson & Johnson (NYSE:JNJ – Get Rating) by 1.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 60,930 shares of the company’s stock after selling 921 shares during the period. Johnson & Johnson makes up 1.8% of Baxter Bros Inc.’s holdings, making the stock its 17th biggest holding. Baxter Bros Inc.’s holdings in Johnson & Johnson were worth $10,763,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of JNJ. Veracity Capital LLC raised its position in Johnson & Johnson by 1.2% in the 4th quarter. Veracity Capital LLC now owns 5,027 shares of the company’s stock valued at $888,000 after purchasing an additional 59 shares during the last quarter. Sandy Cove Advisors LLC raised its position in Johnson & Johnson by 1.6% in the 3rd quarter. Sandy Cove Advisors LLC now owns 3,703 shares of the company’s stock valued at $605,000 after purchasing an additional 60 shares during the last quarter. LCM Capital Management Inc raised its position in Johnson & Johnson by 0.7% in the 4th quarter. LCM Capital Management Inc now owns 9,437 shares of the company’s stock valued at $1,667,000 after purchasing an additional 61 shares during the last quarter. Arbor Investment Advisors LLC raised its position in Johnson & Johnson by 2.3% in the 4th quarter. Arbor Investment Advisors LLC now owns 2,697 shares of the company’s stock valued at $476,000 after purchasing an additional 61 shares during the last quarter. Finally, Mason & Associates Inc raised its position in Johnson & Johnson by 4.9% in the 3rd quarter. Mason & Associates Inc now owns 1,317 shares of the company’s stock valued at $215,000 after purchasing an additional 62 shares during the last quarter. 67.94% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently commented on the stock. Morgan Stanley upped their price target on shares of Johnson & Johnson from $179.00 to $183.00 and gave the company an “equal weight” rating in a research report on Wednesday. Atlantic Securities cut their price objective on shares of Johnson & Johnson from $168.00 to $167.00 and set a “neutral” rating for the company in a research report on Wednesday. Cantor Fitzgerald restated an “overweight” rating and set a $215.00 price objective on shares of Johnson & Johnson in a research report on Wednesday, February 1st. StockNews.com started coverage on shares of Johnson & Johnson in a research report on Thursday, March 16th. They set a “strong-buy” rating for the company. Finally, UBS Group started coverage on shares of Johnson & Johnson in a research report on Tuesday, March 28th. They set a “neutral” rating and a $164.00 price objective for the company. Seven 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. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $173.00.

Insider Activity at Johnson & Johnson

In related news, insider James D. Swanson sold 1,062 shares of the stock in a transaction dated Monday, March 6th. The shares were sold at an average price of $154.66, for a total value of $164,248.92. Following the sale, the insider now directly 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 SEC, which is available through this hyperlink. 0.20% of the stock is owned by corporate insiders.

Johnson & Johnson Stock Performance

Shares of JNJ opened at $162.69 on Friday. The company has a 50-day simple moving average of $157.49 and a 200-day simple moving average of $166.96. The company has a quick ratio of 0.77, a current ratio of 0.99 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $423.69 billion, a PE ratio of 34.04, a P/E/G ratio of 2.63 and a beta of 0.53. Johnson & Johnson has a 52-week low of $150.11 and a 52-week high of $186.69.

Johnson & Johnson (NYSE:JNJ – Get Rating) last issued its quarterly earnings data on Tuesday, April 18th. The company reported $2.68 EPS for the quarter, beating analysts’ consensus estimates 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 13.22% and a return on equity of 35.53%. The firm’s revenue was up 5.6% on a year-over-year basis. During the same period in the prior year, the company earned $2.67 EPS. Equities research analysts predict that Johnson & Johnson will post 10.65 earnings per share for the current fiscal 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 paid a $1.19 dividend. This represents a $4.76 dividend on an annualized basis and a yield of 2.93%. This is a boost from Johnson & Johnson’s previous quarterly dividend of $1.13. The ex-dividend date is Monday, May 22nd. Johnson & Johnson’s dividend payout ratio is presently 94.56%.

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.