Brooks Moore & Associates Inc. Raises Holdings in Johnson & Johnson (NYSE:JNJ)

Posted by Defense World Staff on May 2nd, 2023

Brooks Moore & Associates Inc. increased its holdings in shares of Johnson & Johnson (NYSE:JNJ – Get Rating) by 0.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 32,685 shares of the company’s stock after acquiring an additional 249 shares during the quarter. Johnson & Johnson makes up about 4.2% of Brooks Moore & Associates Inc.’s holdings, making the stock its largest position. Brooks Moore & Associates Inc.’s holdings in Johnson & Johnson were worth $5,774,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of JNJ. Nordwand Advisors LLC bought a new stake in Johnson & Johnson during the fourth quarter worth $785,273,000. Edmp Inc. increased its position in Johnson & Johnson by 17,222.9% in the fourth quarter. Edmp Inc. now owns 3,223,265 shares of the company’s stock worth $18,247,000 after buying an additional 3,204,658 shares during the last quarter. Vanguard Group Inc. increased its position in Johnson & Johnson by 1.2% in the third quarter. Vanguard Group Inc. now owns 245,340,875 shares of the company’s stock worth $40,078,885,000 after buying an additional 2,815,655 shares during the last quarter. GQG Partners LLC increased its position in Johnson & Johnson by 64.4% in the first quarter. GQG Partners LLC now owns 6,501,761 shares of the company’s stock worth $1,151,931,000 after buying an additional 2,547,378 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its position in Johnson & Johnson by 37.2% in the first quarter. Arrowstreet Capital Limited Partnership now owns 6,653,610 shares of the company’s stock worth $1,179,219,000 after buying an additional 1,805,632 shares during the last quarter. 67.94% of the stock is currently owned by institutional investors.

Johnson & Johnson Price Performance

NYSE:JNJ opened at $163.60 on Tuesday. The firm has a market capitalization of $426.06 billion, a price-to-earnings ratio of 34.23, a P/E/G ratio of 2.78 and a beta of 0.53. Johnson & Johnson has a 52-week low of $150.11 and a 52-week high of $183.35. The stock has a fifty day moving average of $157.86 and a 200 day moving average of $167.04. 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 (NYSE:JNJ – Get Rating) last posted its quarterly earnings data on Tuesday, April 18th. The company reported $2.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.51 by $0.17. The company had revenue of $24.75 billion during the quarter, compared to analyst estimates of $23.61 billion. Johnson & Johnson had a return on equity of 35.53% and a net margin of 13.22%. The firm’s quarterly revenue was up 5.6% on a year-over-year basis. During the same quarter last year, the company earned $2.67 earnings per share. On average, research analysts expect that Johnson & Johnson will post 10.66 EPS for the current fiscal year.

Johnson & Johnson Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 6th. Investors of record on Tuesday, May 23rd will be paid a dividend of $1.19 per share. This is a positive change from Johnson & Johnson’s previous quarterly dividend of $1.13. The ex-dividend date is Monday, May 22nd. This represents a $4.76 annualized dividend and a yield of 2.91%. Johnson & Johnson’s dividend payout ratio (DPR) is currently 94.56%.

Insider Activity at Johnson & Johnson

In other Johnson & Johnson news, insider James D. Swanson sold 1,062 shares of Johnson & Johnson stock in a transaction dated Monday, March 6th. The stock was 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 $1,425,191.90. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.20% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Morgan Stanley raised their target price on 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 Johnson & Johnson in a research report on Thursday, March 16th. They issued a “strong-buy” rating for the company. Piper Sandler decreased their target price on Johnson & Johnson from $55.00 to $52.00 in a research report on Monday, February 6th. UBS Group assumed coverage on Johnson & Johnson in a research report on Tuesday, March 28th. They issued a “neutral” rating and a $164.00 target price for the company. Finally, Guggenheim assumed coverage on Johnson & Johnson in a research report on Tuesday, February 28th. They issued a “neutral” rating and a $161.00 price target for the company. Seven investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Johnson & Johnson has an average rating of “Moderate Buy” and a consensus price target of $173.00.

Johnson & Johnson Profile

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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.