Investors Research Corp Raises Stock Holdings in Johnson & Johnson (NYSE:JNJ)

Posted by Defense World Staff on May 4th, 2023

Investors Research Corp raised its position in Johnson & Johnson (NYSE:JNJ – Get Rating) by 3.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,148 shares of the company’s stock after buying an additional 65 shares during the quarter. Investors Research Corp’s holdings in Johnson & Johnson were worth $379,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in JNJ. Nordwand Advisors LLC purchased a new stake in Johnson & Johnson in the fourth quarter valued at approximately $785,273,000. Edmp Inc. increased 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 during the period. Vanguard Group Inc. increased 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 during the period. GQG Partners LLC increased 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 during the period. Finally, Arrowstreet Capital Limited Partnership increased 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 during the period. Hedge funds and other institutional investors own 67.94% of the company’s stock.

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.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. UBS Group assumed coverage on Johnson & Johnson in a report on Tuesday, March 28th. They issued a “neutral” rating and a $164.00 target price on the stock. 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 price objective 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 price objective on Johnson & Johnson from $168.00 to $167.00 and set a “neutral” rating on the stock in a report on Wednesday, April 19th. Finally, SVB Leerink dropped their price objective on Johnson & Johnson from $194.00 to $186.00 and set an “outperform” rating on the stock in a report on Friday, January 20th. Seven 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $173.00.

Johnson & Johnson Stock Down 1.3 %

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

Johnson & Johnson (NYSE:JNJ – Get Rating) last issued its quarterly earnings data on Tuesday, April 18th. The company reported $2.68 earnings per share (EPS) for the quarter, beating 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 business 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 business earned $2.67 earnings per share. The business’s revenue was up 5.6% on a year-over-year basis. Analysts anticipate that Johnson & Johnson will post 10.66 EPS for the current fiscal year.

Johnson & Johnson Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 6th. Stockholders of record on Tuesday, May 23rd will be given a $1.19 dividend. 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%. The ex-dividend date is Monday, May 22nd. Johnson & Johnson’s dividend payout ratio is currently 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.