Quaker Wealth Management LLC Lowers Holdings in Johnson & Johnson (NYSE:JNJ)

Posted by Defense World Staff on Apr 28th, 2023

Quaker Wealth Management LLC trimmed its position in Johnson & Johnson (NYSE:JNJ – Get Rating) by 9.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,837 shares of the company’s stock after selling 291 shares during the period. Johnson & Johnson makes up about 0.3% of Quaker Wealth Management LLC’s holdings, making the stock its 24th biggest position. Quaker Wealth Management LLC’s holdings in Johnson & Johnson were worth $501,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

Several research firms recently commented on JNJ. Cantor Fitzgerald reiterated an “overweight” rating and issued a $215.00 price objective on shares of Johnson & Johnson in a research report on Wednesday, February 1st. Guggenheim began coverage on shares of Johnson & Johnson in a research report on Tuesday, February 28th. They issued a “neutral” rating and a $161.00 price objective on the stock. Morgan Stanley boosted their price objective on shares of Johnson & Johnson from $179.00 to $183.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 19th. StockNews.com assumed coverage on shares of Johnson & Johnson in a research note on Thursday, March 16th. They issued a “strong-buy” rating for the company. Finally, SVB Leerink cut their target price on shares of Johnson & Johnson from $194.00 to $186.00 and set an “outperform” rating for the company in a research note on Friday, January 20th. Seven investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $173.00.

Insider Buying and Selling

In related news, insider James D. Swanson sold 1,062 shares of the stock in a transaction that occurred on 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 owns 9,215 shares of the company’s stock, valued at approximately $1,425,191.90. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.20% of the company’s stock.

Johnson & Johnson Trading Up 0.2 %

NYSE JNJ opened at $163.00 on Friday. Johnson & Johnson has a 12 month low of $150.11 and a 12 month high of $184.50. The company has a 50-day moving average of $157.73 and a 200-day moving average of $166.97. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.99 and a quick ratio of 0.77. The company has a market cap of $424.50 billion, a P/E ratio of 34.10, a P/E/G ratio of 2.82 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 (EPS) for the quarter, topping analysts’ consensus estimates of $2.51 by $0.17. The firm had revenue of $24.75 billion during the quarter, compared to the consensus estimate of $23.61 billion. Johnson & Johnson had a net margin of 13.22% and a return on equity of 35.53%. The company’s revenue was up 5.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.67 EPS. As a group, equities analysts predict that Johnson & Johnson will post 10.67 earnings per share for the current year.

Johnson & Johnson Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 6th. Investors of record on Tuesday, May 23rd will be given a dividend of $1.19 per share. This represents a $4.76 dividend on an annualized basis and a yield of 2.92%. 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 is 94.56%.

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.