5,344 Shares in Johnson & Johnson (NYSE:JNJ) Acquired by Lodestar Private Asset Management LLC

Posted by Defense World Staff on Apr 29th, 2023

Lodestar Private Asset Management LLC purchased a new position in shares of Johnson & Johnson (NYSE:JNJ – Get Rating) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,344 shares of the company’s stock, valued at approximately $944,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Lincoln Capital Corp boosted its position in Johnson & Johnson by 15.9% in the 3rd quarter. Lincoln Capital Corp now owns 1,332 shares of the company’s stock valued at $218,000 after buying an additional 183 shares during the period. Ieq Capital LLC raised its stake in shares of Johnson & Johnson by 5.1% in the third quarter. Ieq Capital LLC now owns 128,012 shares of the company’s stock valued at $20,912,000 after acquiring an additional 6,154 shares in the last quarter. RFG Advisory LLC boosted its holdings in Johnson & Johnson by 2.7% in the third quarter. RFG Advisory LLC now owns 22,434 shares of the company’s stock valued at $3,900,000 after purchasing an additional 594 shares during the period. Willis Investment Counsel grew its stake in Johnson & Johnson by 0.4% during the 4th quarter. Willis Investment Counsel now owns 328,884 shares of the company’s stock worth $58,097,000 after purchasing an additional 1,358 shares in the last quarter. Finally, Wambolt & Associates LLC increased its holdings in Johnson & Johnson by 2.5% during the 4th quarter. Wambolt & Associates LLC now owns 14,528 shares of the company’s stock worth $2,566,000 after purchasing an additional 355 shares during the period. 67.94% of the stock is currently owned by hedge funds and other institutional investors.

Johnson & Johnson Stock Performance

Shares of JNJ stock opened at $163.70 on Friday. The stock’s 50-day moving average is $157.80 and its two-hundred day moving average is $166.99. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.77 and a current ratio of 0.99. Johnson & Johnson has a 1 year low of $150.11 and a 1 year high of $183.35. The firm has a market cap of $426.32 billion, a price-to-earnings ratio of 34.25, a PEG ratio of 2.77 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, 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 the consensus estimate of $23.61 billion. During the same quarter last year, the business posted $2.67 EPS. The firm’s quarterly revenue was up 5.6% compared to the same quarter last year. Analysts predict that Johnson & Johnson will post 10.67 earnings per share for the current year.

Johnson & Johnson Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 6th. Investors of record on Tuesday, May 23rd will be given a $1.19 dividend. This is an increase from Johnson & Johnson’s previous quarterly dividend of $1.13. The ex-dividend date of this dividend is Monday, May 22nd. This represents a $4.76 annualized dividend and a yield of 2.91%. Johnson & Johnson’s dividend payout ratio is 94.56%.

Analysts Set New Price Targets

A number of brokerages have recently commented on JNJ. StockNews.com assumed coverage on Johnson & Johnson in a research report on Thursday, March 16th. They set a “strong-buy” rating for the company. SVB Leerink lowered their price target on shares of Johnson & Johnson from $194.00 to $186.00 and set an “outperform” rating for the company in a report on Friday, January 20th. Cantor Fitzgerald restated an “overweight” rating and issued a $215.00 price objective on shares of Johnson & Johnson in a report on Wednesday, February 1st. Atlantic Securities lowered their target price on shares of 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, Guggenheim assumed coverage on Johnson & Johnson in a research note on Tuesday, February 28th. They issued a “neutral” rating and a $161.00 price target on the stock. Seven equities 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, Johnson & Johnson presently has an average rating of “Moderate Buy” and a consensus price target of $173.00.

Insider Buying and Selling

In other Johnson & Johnson news, insider James D. Swanson sold 1,062 shares of Johnson & Johnson stock in a transaction on Monday, March 6th. The shares were sold at an average price of $154.66, for a total value of $164,248.92. Following the transaction, the insider now directly owns 9,215 shares in the company, valued at $1,425,191.90. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.20% of the stock is owned by company 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.