Washington Trust Bank Lowers Stake in Johnson & Johnson (NYSE:JNJ)

Posted by Defense World Staff on May 4th, 2023

Washington Trust Bank lessened its stake in Johnson & Johnson (NYSE:JNJ – Get Rating) by 1.5% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 25,612 shares of the company’s stock after selling 397 shares during the quarter. Washington Trust Bank’s holdings in Johnson & Johnson were worth $4,524,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of JNJ. Nordwand Advisors LLC purchased a new position in shares of Johnson & Johnson in the fourth quarter worth $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 worth $18,247,000 after buying 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 worth $40,078,885,000 after buying 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 worth $1,151,931,000 after buying 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 worth $1,179,219,000 after buying an additional 1,805,632 shares in the last quarter. Hedge funds and other institutional investors own 67.94% of the company’s stock.

Insider Buying and Selling

In related news, insider James D. Swanson sold 1,062 shares of the company’s stock in a transaction dated 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 sale, the insider now directly owns 9,215 shares of the company’s stock, valued at $1,425,191.90. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.20% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Cantor Fitzgerald restated an “overweight” rating and issued a $215.00 price target on shares of Johnson & Johnson in a research report on Wednesday, February 1st. Raymond James reduced their price target on shares of Johnson & Johnson from $185.00 to $181.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 19th. Atlantic Securities reduced their price target on shares of Johnson & Johnson from $168.00 to $167.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 19th. UBS Group began coverage on shares of Johnson & Johnson in a research report on Tuesday, March 28th. They set a “neutral” rating and a $164.00 price objective on the stock. Finally, StockNews.com began coverage on shares of Johnson & Johnson in a research report on Thursday, March 16th. They set a “strong-buy” rating on the stock. Seven 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. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $173.00.

Johnson & Johnson Stock Down 1.3 %

Shares of JNJ opened at $162.87 on Thursday. The firm has a market capitalization of $424.16 billion, a P/E ratio of 34.07, 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. 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 firm has a fifty day moving average price of $158.10 and a 200-day moving average price of $167.02.

Johnson & Johnson (NYSE:JNJ – Get Rating) last issued its earnings results on Tuesday, April 18th. The company reported $2.68 earnings per share (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 firm had revenue of $24.75 billion during the quarter, compared to analyst estimates of $23.61 billion. During the same period in the previous year, the firm earned $2.67 earnings per share. The business’s revenue was up 5.6% on a year-over-year basis. Equities research analysts expect that Johnson & Johnson will post 10.66 earnings per share for the current 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 $1.19 dividend. The ex-dividend date is Monday, May 22nd. This is a positive change from Johnson & Johnson’s previous quarterly dividend of $1.13. This represents a $4.76 dividend on an annualized basis and a yield of 2.92%. 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.