ACR Alpine Capital Research LLC Sells 18,188 Shares of Johnson & Johnson (NYSE:JNJ)

Posted by Defense World Staff on Apr 28th, 2023

ACR Alpine Capital Research LLC decreased its stake in Johnson & Johnson (NYSE:JNJ – Get Rating) by 1.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 922,030 shares of the company’s stock after selling 18,188 shares during the quarter. Johnson & Johnson accounts for about 7.3% of ACR Alpine Capital Research LLC’s investment portfolio, making the stock its 7th largest holding. ACR Alpine Capital Research LLC’s holdings in Johnson & Johnson were worth $162,877,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. Glassy Mountain Advisors Inc. acquired a new stake in shares of Johnson & Johnson in the fourth quarter worth $35,000. Retirement Financial Solutions LLC acquired a new stake in Johnson & Johnson during the 4th quarter worth about $40,000. TD Capital Management LLC purchased a new position in Johnson & Johnson during the 3rd quarter valued at about $48,000. VitalStone Financial LLC acquired a new position in shares of Johnson & Johnson in the 4th quarter valued at about $52,000. Finally, Iron Horse Wealth Management LLC lifted its position 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 worth $53,000 after purchasing an additional 159 shares in the last quarter. Hedge funds and other institutional investors own 67.94% of the company’s stock.

Johnson & Johnson Trading Up 0.2 %

Johnson & Johnson stock opened at $163.00 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.99 and a quick ratio of 0.77. Johnson & Johnson has a one year low of $150.11 and a one year high of $184.50. The company’s fifty day moving average price is $157.73 and its two-hundred day moving average price is $166.97. The company has a market capitalization of $424.50 billion, a price-to-earnings ratio of 34.10, a PEG ratio of 2.82 and a beta of 0.53.

Johnson & Johnson (NYSE:JNJ – Get Rating) last released its quarterly earnings results on Tuesday, April 18th. The company reported $2.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.51 by $0.17. Johnson & Johnson had a net margin of 13.22% and a return on equity of 35.53%. The company had revenue of $24.75 billion during the quarter, compared to analysts’ expectations of $23.61 billion. During the same period in the prior year, the company earned $2.67 earnings per share. The business’s quarterly revenue was up 5.6% compared to the same quarter last year. On average, analysts forecast that Johnson & Johnson will post 10.67 earnings per share for the current fiscal 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 dividend of $1.19 per share. This represents a $4.76 dividend on an annualized basis and a yield of 2.92%. This is a boost from Johnson & Johnson’s previous quarterly dividend of $1.13. The ex-dividend date of this dividend is Monday, May 22nd. Johnson & Johnson’s dividend payout ratio 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 company’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 in the company, valued at $1,425,191.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

JNJ has been the subject of a number of research analyst reports. Cantor Fitzgerald reiterated an “overweight” rating and issued a $215.00 target price on shares of Johnson & Johnson in a research report on Wednesday, February 1st. Morgan Stanley lifted their price objective on Johnson & Johnson from $179.00 to $183.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 19th. Piper Sandler cut their price target on Johnson & Johnson from $55.00 to $52.00 in a research note on Monday, February 6th. Atlantic Securities lowered their price target on Johnson & Johnson from $168.00 to $167.00 and set a “neutral” rating for the company in a research note on Wednesday, April 19th. Finally, StockNews.com began coverage on shares of Johnson & Johnson in a research note on Thursday, March 16th. They issued a “strong-buy” rating for the company. Seven research 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. According to data from MarketBeat.com, Johnson & Johnson currently has a consensus rating of “Moderate Buy” and an average target price of $173.00.

Johnson & Johnson Profile

(Get Rating)

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.