Johnson & Johnson (NYSE:JNJ) Holdings Decreased by DORCHESTER WEALTH MANAGEMENT Co

Posted by Defense World Staff on Apr 23rd, 2023

DORCHESTER WEALTH MANAGEMENT Co trimmed its position in shares of Johnson & Johnson (NYSE:JNJ – Get Rating) by 8.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 65,447 shares of the company’s stock after selling 5,972 shares during the period. Johnson & Johnson comprises 2.7% of DORCHESTER WEALTH MANAGEMENT Co’s investment portfolio, making the stock its 6th largest position. DORCHESTER WEALTH MANAGEMENT Co’s holdings in Johnson & Johnson were worth $11,561,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of JNJ. Glassy Mountain Advisors Inc. bought a new position in Johnson & Johnson during the 4th quarter worth approximately $35,000. Retirement Financial Solutions LLC bought a new position in Johnson & Johnson during the 4th quarter worth approximately $40,000. TD Capital Management LLC bought a new position in Johnson & Johnson during the 3rd quarter worth approximately $48,000. VitalStone Financial LLC bought a new position in Johnson & Johnson during the 4th quarter worth approximately $52,000. Finally, Iron Horse Wealth Management LLC grew its position in Johnson & Johnson by 112.8% during the 4th quarter. Iron Horse Wealth Management LLC now owns 300 shares of the company’s stock worth $53,000 after acquiring an additional 159 shares during the last quarter. 67.94% of the stock is owned by hedge funds and other institutional investors.

Johnson & Johnson Trading Down 0.5 %

NYSE JNJ opened at $162.69 on Friday. Johnson & Johnson has a 12 month low of $150.11 and a 12 month high of $186.69. The stock has a market cap of $423.69 billion, a P/E ratio of 34.04, a P/E/G ratio of 2.63 and a beta of 0.53. The stock’s fifty day moving average price is $157.49 and its 200-day moving average price is $166.96. 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 released its earnings results on Tuesday, April 18th. The company reported $2.68 EPS for the quarter, topping analysts’ consensus estimates of $2.51 by $0.17. Johnson & Johnson had a return on equity of 35.53% and a net margin of 13.22%. The firm had revenue of $24.75 billion for the quarter, compared to analysts’ expectations of $23.61 billion. During the same period in the prior year, the firm posted $2.67 earnings per share. The company’s quarterly revenue was up 5.6% on a year-over-year basis. As a group, equities analysts forecast that Johnson & Johnson will post 10.65 EPS 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. Stockholders of record on Tuesday, May 23rd will be paid a $1.19 dividend. This is a boost from Johnson & Johnson’s previous quarterly dividend of $1.13. This represents a $4.76 dividend on an annualized basis and a dividend yield of 2.93%. The ex-dividend date is Monday, May 22nd. Johnson & Johnson’s dividend payout ratio is currently 94.56%.

Insider Transactions at Johnson & Johnson

In related news, insider James D. Swanson sold 1,062 shares of the stock in a transaction on Monday, March 6th. The stock was sold at an average price of $154.66, for a total transaction of $164,248.92. Following the sale, the insider now directly 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 link. Insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Cantor Fitzgerald restated an “overweight” rating and set a $215.00 price target on shares of Johnson & Johnson in a research report on Wednesday, February 1st. UBS Group initiated coverage on Johnson & Johnson in a research report on Tuesday, March 28th. They issued a “neutral” rating and a $164.00 price objective on the stock. Raymond James cut their price objective on Johnson & Johnson from $185.00 to $181.00 and set an “outperform” rating on the stock in a research report on Wednesday. StockNews.com initiated coverage on Johnson & Johnson in a research report on Thursday, March 16th. They issued a “strong-buy” rating on the stock. Finally, Piper Sandler cut their price objective on Johnson & Johnson from $55.00 to $52.00 in a research report on Monday, February 6th. Seven equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $173.00.

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.