Greenwich Wealth Management LLC Decreases Position in Johnson & Johnson (NYSE:JNJ)

Posted by Defense World Staff on May 3rd, 2023

Greenwich Wealth Management LLC decreased its holdings in shares of Johnson & Johnson (NYSE:JNJ – Get Rating) by 2.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,253 shares of the company’s stock after selling 92 shares during the quarter. Greenwich Wealth Management LLC’s holdings in Johnson & Johnson were worth $751,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Lincoln Capital Corp increased its position in Johnson & Johnson by 15.9% during the third quarter. Lincoln Capital Corp now owns 1,332 shares of the company’s stock worth $218,000 after buying an additional 183 shares during the period. Ieq Capital LLC increased its position in Johnson & Johnson by 5.1% during the third quarter. Ieq Capital LLC now owns 128,012 shares of the company’s stock worth $20,912,000 after buying an additional 6,154 shares during the period. RFG Advisory LLC increased its position in Johnson & Johnson by 2.7% during the third quarter. RFG Advisory LLC now owns 22,434 shares of the company’s stock worth $3,900,000 after buying an additional 594 shares during the period. Willis Investment Counsel increased its position in Johnson & Johnson by 0.4% during the fourth quarter. Willis Investment Counsel now owns 328,884 shares of the company’s stock worth $58,097,000 after buying an additional 1,358 shares during the period. Finally, Wambolt & Associates LLC increased its position in Johnson & Johnson by 2.5% during the fourth quarter. Wambolt & Associates LLC now owns 14,528 shares of the company’s stock worth $2,566,000 after buying an additional 355 shares during the period. Institutional investors and hedge funds own 67.94% of the company’s stock.

Johnson & Johnson Trading Up 0.9 %

Shares of JNJ stock opened at $165.03 on Wednesday. The business’s fifty day moving average price is $158.00 and its 200 day moving average price is $167.05. Johnson & Johnson has a 1-year low of $150.11 and a 1-year high of $183.35. The firm has a market capitalization of $429.79 billion, a PE ratio of 34.53, a P/E/G ratio of 2.78 and a beta of 0.53. 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 (NYSE:JNJ – Get Rating) last posted its earnings results on Tuesday, April 18th. The company reported $2.68 EPS for the quarter, topping analysts’ consensus estimates of $2.51 by $0.17. The company had revenue of $24.75 billion for the quarter, compared to the consensus estimate of $23.61 billion. Johnson & Johnson had a return on equity of 35.53% and a net margin of 13.22%. Johnson & Johnson’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same period in the previous year, the business earned $2.67 earnings per share. As a group, sell-side analysts forecast that Johnson & Johnson will post 10.66 EPS for the current fiscal year.

Johnson & Johnson Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 6th. Shareholders 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 2.88%. 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. Johnson & Johnson’s payout ratio is presently 94.56%.

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 stock was sold at an average price of $154.66, for a total value of $164,248.92. Following the sale, the insider now directly owns 9,215 shares in the company, valued at $1,425,191.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on JNJ shares. Piper Sandler dropped their target price on Johnson & Johnson from $55.00 to $52.00 in a report on Monday, February 6th. Raymond James dropped their target price on Johnson & Johnson from $185.00 to $181.00 and set an “outperform” rating on the stock in a report on Wednesday, April 19th. Atlantic Securities dropped their target price on Johnson & Johnson from $168.00 to $167.00 and set a “neutral” rating on the stock in a report on Wednesday, April 19th. StockNews.com started coverage on Johnson & Johnson in a report on Thursday, March 16th. They issued a “strong-buy” rating on the stock. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $215.00 target price on shares of Johnson & Johnson in a report on Wednesday, February 1st. Seven equities research 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $173.00.

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.