Nicollet Investment Management Inc. Decreases Stock Position in Johnson & Johnson (NYSE:JNJ)

Posted by on May 4th, 2023

Nicollet Investment Management Inc. decreased its stake in shares of Johnson & Johnson (NYSE:JNJ – Get Rating) by 1.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 19,079 shares of the company’s stock after selling 273 shares during the quarter. Johnson & Johnson comprises 1.9% of Nicollet Investment Management Inc.’s holdings, making the stock its 16th largest position. Nicollet Investment Management Inc.’s holdings in Johnson & Johnson were worth $3,370,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in JNJ. Glassy Mountain Advisors Inc. purchased a new position in Johnson & Johnson during the fourth quarter worth approximately $35,000. Retirement Financial Solutions LLC acquired a new stake in Johnson & Johnson during the fourth quarter worth $40,000. TD Capital Management LLC acquired a new stake in Johnson & Johnson during the third quarter worth $48,000. VitalStone Financial LLC acquired a new stake in Johnson & Johnson during the fourth quarter worth $52,000. Finally, Iron Horse Wealth Management LLC increased its stake in Johnson & Johnson by 112.8% during the fourth 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. 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 business’s stock in a transaction dated Monday, March 6th. The stock was 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 approximately $1,425,191.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.20% of the company’s stock.

Johnson & Johnson Stock Down 1.3 %

Shares of NYSE JNJ opened at $162.87 on Thursday. The company has a market capitalization of $424.16 billion, a price-to-earnings ratio of 34.07, a price-to-earnings-growth 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. The business has a 50-day moving average of $158.10 and a two-hundred day moving average of $167.02. Johnson & Johnson has a 1 year low of $150.11 and a 1 year high of $183.35.

Johnson & Johnson (NYSE:JNJ – Get Rating) last announced its quarterly earnings results on Tuesday, April 18th. The company reported $2.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.51 by $0.17. The company had revenue of $24.75 billion during 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 revenue for the quarter was up 5.6% on a year-over-year basis. During the same period in the previous year, the business earned $2.67 EPS. On average, analysts forecast that Johnson & Johnson will post 10.66 earnings per share 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. Stockholders of record on Tuesday, May 23rd will be issued 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 of this dividend is Monday, May 22nd. Johnson & Johnson’s payout ratio is presently 94.56%.

Analysts Set New Price Targets

Several research firms have issued reports on JNJ. Piper Sandler cut their target price on Johnson & Johnson from $55.00 to $52.00 in a research note on Monday, February 6th. StockNews.com initiated coverage on Johnson & Johnson in a research note on Thursday, March 16th. They issued a “strong-buy” rating for the company. Raymond James dropped their price objective on Johnson & Johnson from $185.00 to $181.00 and set an “outperform” rating for the company in a research note on Wednesday, April 19th. SVB Leerink dropped their price objective on Johnson & Johnson from $194.00 to $186.00 and set an “outperform” rating for the company in a research note on Friday, January 20th. Finally, Guggenheim initiated coverage on Johnson & Johnson in a research note on Tuesday, February 28th. They issued a “neutral” rating and a $161.00 price objective for the company. 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 stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $173.00.

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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