HM Payson & Co. Boosts Stake in Johnson & Johnson (NYSE:JNJ)

Posted by Defense World Staff on May 4th, 2023

HM Payson & Co. boosted its holdings in shares of Johnson & Johnson (NYSE:JNJ – Get Rating) by 3.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 810,363 shares of the company’s stock after acquiring an additional 26,825 shares during the period. Johnson & Johnson makes up approximately 3.6% of HM Payson & Co.’s investment portfolio, making the stock its 3rd largest holding. HM Payson & Co.’s holdings in Johnson & Johnson were worth $143,151,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

A number of brokerages have recently commented on JNJ. UBS Group began coverage on Johnson & Johnson in a report on Tuesday, March 28th. They issued a “neutral” rating and a $164.00 price target on the stock. SVB Leerink cut their price target on Johnson & Johnson from $194.00 to $186.00 and set an “outperform” rating on the stock in a report on Friday, January 20th. StockNews.com began coverage on Johnson & Johnson in a report on Thursday, March 16th. They issued a “strong-buy” rating on the stock. Morgan Stanley lifted their target price on Johnson & Johnson from $179.00 to $183.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 19th. Finally, Atlantic Securities lowered their target price on Johnson & Johnson from $168.00 to $167.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 19th. Seven investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $173.00.

Insider Transactions at Johnson & Johnson

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 transaction of $164,248.92. Following the completion of the transaction, 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 link. Company insiders own 0.20% of the company’s stock.

Johnson & Johnson Price Performance

Shares of NYSE JNJ opened at $162.87 on Thursday. The business’s 50 day moving average price is $158.10 and its two-hundred day moving average price is $167.02. The company has a quick ratio of 0.77, a current ratio of 0.99 and a debt-to-equity ratio of 0.35. Johnson & Johnson has a twelve month low of $150.11 and a twelve month high of $183.35. The company has a market cap of $424.16 billion, a PE ratio of 34.07, a price-to-earnings-growth ratio of 2.78 and a beta of 0.53.

Johnson & Johnson (NYSE:JNJ – Get Rating) last released its earnings results on Tuesday, April 18th. The company reported $2.68 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $23.61 billion. During the same period in the prior year, the company earned $2.67 earnings per share. The company’s quarterly revenue was up 5.6% on a year-over-year basis. On average, analysts predict that Johnson & Johnson will post 10.66 EPS for the current year.

Johnson & Johnson Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 6th. Stockholders of record on Tuesday, May 23rd will be issued a dividend of $1.19 per share. The ex-dividend date of this dividend is Monday, May 22nd. This is an increase from Johnson & Johnson’s previous quarterly dividend of $1.13. This represents a $4.76 annualized dividend and a dividend yield of 2.92%. Johnson & Johnson’s dividend payout ratio is 94.56%.

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.