Rainsberger Wealth Advisors Inc. Purchases 640 Shares of Johnson & Johnson (NYSE:JNJ)

Posted by Defense World Staff on Apr 26th, 2023

Rainsberger Wealth Advisors Inc. boosted its position in Johnson & Johnson (NYSE:JNJ – Get Rating) by 5.4% during the fourth quarter, HoldingsChannel.com reports. The fund owned 12,483 shares of the company’s stock after buying an additional 640 shares during the quarter. Johnson & Johnson makes up 1.4% of Rainsberger Wealth Advisors Inc.’s portfolio, making the stock its 21st biggest position. Rainsberger Wealth Advisors Inc.’s holdings in Johnson & Johnson were worth $2,205,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in the company. DORCHESTER WEALTH MANAGEMENT Co boosted its position in Johnson & Johnson by 8.6% in the first quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 67,618 shares of the company’s stock valued at $14,975,000 after buying an additional 5,327 shares in the last quarter. Cantor Fitzgerald Investment Advisor L.P boosted its position in Johnson & Johnson by 88.9% in the first quarter. Cantor Fitzgerald Investment Advisor L.P now owns 175,194 shares of the company’s stock valued at $31,049,000 after buying an additional 82,429 shares in the last quarter. AMI Investment Management Inc. boosted its position in Johnson & Johnson by 8.8% in the first quarter. AMI Investment Management Inc. now owns 18,305 shares of the company’s stock valued at $3,244,000 after buying an additional 1,475 shares in the last quarter. Equitable Holdings Inc. boosted its position in Johnson & Johnson by 4.9% in the first quarter. Equitable Holdings Inc. now owns 45,673 shares of the company’s stock valued at $8,095,000 after buying an additional 2,119 shares in the last quarter. Finally, USS Investment Management Ltd boosted its position in Johnson & Johnson by 2.4% in the first quarter. USS Investment Management Ltd now owns 860,371 shares of the company’s stock valued at $152,488,000 after buying an additional 20,528 shares in the last quarter. 67.94% of the stock is owned by institutional investors.

Johnson & Johnson Trading Up 0.9 %

JNJ opened at $165.18 on Wednesday. Johnson & Johnson has a 1-year low of $150.11 and a 1-year high of $186.57. The company has a current ratio of 0.99, a quick ratio of 0.77 and a debt-to-equity ratio of 0.35. The company has a market cap of $430.18 billion, a P/E ratio of 34.56, a price-to-earnings-growth ratio of 2.62 and a beta of 0.53. The company has a fifty day moving average price of $157.57 and a two-hundred day moving average price of $167.03.

Johnson & Johnson (NYSE:JNJ – Get Rating) last posted its quarterly 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 period in the previous year, the firm posted $2.67 earnings per share. The business’s revenue was up 5.6% compared to the same quarter last year. Analysts predict that Johnson & Johnson will post 10.67 EPS for the current fiscal year.

Johnson & Johnson Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 6th. Stockholders of record on Tuesday, May 23rd will be given a dividend of $1.19 per share. 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. This represents a $4.76 annualized dividend and a dividend yield of 2.88%. Johnson & Johnson’s payout ratio is presently 94.56%.

Analyst Upgrades and Downgrades

JNJ has been the topic of a number of recent research reports. Piper Sandler cut their price target on shares of Johnson & Johnson from $55.00 to $52.00 in a report on Monday, February 6th. Raymond James cut their price target on shares of Johnson & Johnson from $185.00 to $181.00 and set an “outperform” rating on the stock in a report on Wednesday, April 19th. SVB Leerink cut their price target on shares of Johnson & Johnson from $194.00 to $186.00 and set an “outperform” rating on the stock in a report on Friday, January 20th. Morgan Stanley lifted their price target on shares of Johnson & Johnson from $179.00 to $183.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 19th. Finally, Atlantic Securities cut their price target on shares of Johnson & Johnson from $168.00 to $167.00 and set a “neutral” rating on the stock in a report on Wednesday, April 19th. Seven 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. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $173.00.

Insider Transactions at Johnson & Johnson

In other news, insider James D. Swanson sold 1,062 shares of the business’s stock in a transaction dated Monday, March 6th. The shares were sold at an average price of $154.66, for a total transaction of $164,248.92. Following the completion of 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 SEC, which is available at this hyperlink. 0.20% of the stock is currently owned by insiders.

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.