Johnson & Johnson (NYSE:JNJ) Shares Sold by West Chester Capital Advisors Inc.

Posted by Defense World Staff on May 3rd, 2023

West Chester Capital Advisors Inc. trimmed its position in Johnson & Johnson (NYSE:JNJ – Get Rating) by 11.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,049 shares of the company’s stock after selling 677 shares during the quarter. Johnson & Johnson comprises 1.8% of West Chester Capital Advisors Inc.’s investment portfolio, making the stock its 16th biggest position. West Chester Capital Advisors Inc.’s holdings in Johnson & Johnson were worth $892,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Nordwand Advisors LLC acquired a new position in shares of Johnson & Johnson in the 4th quarter worth approximately $785,273,000. Edmp Inc. lifted its holdings in shares of Johnson & Johnson by 17,222.9% in the 4th quarter. Edmp Inc. now owns 3,223,265 shares of the company’s stock worth $18,247,000 after acquiring an additional 3,204,658 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Johnson & Johnson by 1.2% in the 3rd quarter. Vanguard Group Inc. now owns 245,340,875 shares of the company’s stock worth $40,078,885,000 after acquiring an additional 2,815,655 shares during the last quarter. GQG Partners LLC lifted its holdings in shares of Johnson & Johnson by 64.4% in the 1st quarter. GQG Partners LLC now owns 6,501,761 shares of the company’s stock worth $1,151,931,000 after acquiring an additional 2,547,378 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in shares of Johnson & Johnson by 37.2% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 6,653,610 shares of the company’s stock worth $1,179,219,000 after acquiring an additional 1,805,632 shares during the last quarter. 67.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider James D. Swanson sold 1,062 shares of the company’s 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 completion of the transaction, the insider now owns 9,215 shares in the company, valued at approximately $1,425,191.90. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.20% of the company’s stock.

Johnson & Johnson Trading Up 0.9 %

Shares of NYSE:JNJ opened at $165.03 on Wednesday. Johnson & Johnson has a 52 week low of $150.11 and a 52 week high of $183.35. The company’s 50 day moving average is $158.00 and its two-hundred day moving average is $167.05. 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 $429.79 billion, a PE ratio of 34.53, a P/E/G ratio of 2.78 and a beta of 0.53.

Johnson & Johnson (NYSE:JNJ – Get Rating) last announced its quarterly earnings data on Tuesday, April 18th. The company reported $2.68 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 for the quarter, compared to the consensus estimate of $23.61 billion. During the same period in the prior year, the firm posted $2.67 EPS. The company’s quarterly revenue was up 5.6% compared to the same quarter last year. Equities analysts predict that Johnson & Johnson will post 10.66 earnings per share for the current fiscal year.

Johnson & Johnson Increases Dividend

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

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Guggenheim assumed coverage on shares of Johnson & Johnson in a report on Tuesday, February 28th. They issued a “neutral” rating and a $161.00 price objective on the stock. 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 cut their target price on shares of Johnson & Johnson from $168.00 to $167.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 19th. SVB Leerink cut their target price on shares of Johnson & Johnson from $194.00 to $186.00 and set an “outperform” rating on the stock in a research note on Friday, January 20th. Finally, Morgan Stanley upped their target price on shares of Johnson & Johnson from $179.00 to $183.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 19th. Seven 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’s stock. According to MarketBeat, Johnson & Johnson currently has an average rating of “Moderate Buy” and a consensus target price of $173.00.

Johnson & Johnson Company 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.