Absher Wealth Management LLC Buys 1,432 Shares of Johnson & Johnson (NYSE:JNJ)

Posted by Defense World Staff on May 3rd, 2023

Absher Wealth Management LLC boosted its stake in shares of Johnson & Johnson (NYSE:JNJ – Get Rating) by 1.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 80,014 shares of the company’s stock after acquiring an additional 1,432 shares during the quarter. Johnson & Johnson makes up approximately 2.6% of Absher Wealth Management LLC’s holdings, making the stock its 23rd biggest holding. Absher Wealth Management LLC’s holdings in Johnson & Johnson were worth $14,135,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Glassy Mountain Advisors Inc. bought a new position in shares of Johnson & Johnson in the 4th quarter valued at about $35,000. Retirement Financial Solutions LLC bought a new position in shares of Johnson & Johnson in the 4th quarter valued at about $40,000. TD Capital Management LLC bought a new position in shares of Johnson & Johnson in the 3rd quarter valued at about $48,000. VitalStone Financial LLC bought a new position in shares of Johnson & Johnson in the 4th quarter valued at about $52,000. Finally, Iron Horse Wealth Management LLC boosted its stake in Johnson & Johnson by 112.8% during the 4th quarter. Iron Horse Wealth Management LLC now owns 300 shares of the company’s stock worth $53,000 after acquiring an additional 159 shares during the last quarter. Institutional investors own 67.94% of the company’s stock.

Insiders Place Their Bets

In other Johnson & Johnson 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 transaction, the insider now directly owns 9,215 shares in the company, valued at $1,425,191.90. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

JNJ has been the topic of several recent analyst reports. SVB Leerink reduced their price objective 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. Cantor Fitzgerald reissued an “overweight” rating and set a $215.00 price objective on shares of Johnson & Johnson in a research note on Wednesday, February 1st. Morgan Stanley raised their target price on shares of Johnson & Johnson from $179.00 to $183.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 19th. Piper Sandler cut their price target on shares of Johnson & Johnson from $55.00 to $52.00 in a research note on Monday, February 6th. Finally, StockNews.com started coverage on shares of Johnson & Johnson in a research note on Thursday, March 16th. They issued a “strong-buy” rating on the stock. Seven investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $173.00.

Johnson & Johnson Stock Performance

Shares of JNJ stock opened at $165.03 on Wednesday. The company’s fifty day simple moving average is $158.00 and its 200-day simple moving average is $167.05. The company has a quick ratio of 0.77, a current ratio of 0.99 and a debt-to-equity ratio of 0.35. The firm 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 has a 12 month low of $150.11 and a 12 month high of $183.35.

Johnson & Johnson (NYSE:JNJ – Get Rating) last posted its quarterly earnings results on Tuesday, April 18th. The company reported $2.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.51 by $0.17. Johnson & Johnson had a net margin of 13.22% and a return on equity of 35.53%. The firm had revenue of $24.75 billion for the quarter, compared to analyst estimates of $23.61 billion. During the same period in the prior year, the firm posted $2.67 earnings per share. The company’s quarterly revenue was up 5.6% compared to the same quarter last year. Equities research analysts expect that Johnson & Johnson will post 10.66 EPS for the current fiscal year.

Johnson & Johnson Increases Dividend

The company also recently declared 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 is a positive change from Johnson & Johnson’s previous quarterly dividend of $1.13. This represents a $4.76 annualized dividend and a yield of 2.88%. The ex-dividend date is Monday, May 22nd. Johnson & Johnson’s dividend payout ratio is 94.56%.

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.

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Institutional Ownership by Quarter for Johnson & Johnson (NYSE:JNJ)

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