Westpac Banking Corp Sells 28,269 Shares of Johnson & Johnson (NYSE:JNJ)

Posted by on May 5th, 2023

Westpac Banking Corp lessened its stake in shares of Johnson & Johnson (NYSE:JNJ – Get Rating) by 10.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 248,058 shares of the company’s stock after selling 28,269 shares during the quarter. Johnson & Johnson makes up about 0.6% of Westpac Banking Corp’s portfolio, making the stock its 19th biggest position. Westpac Banking Corp’s holdings in Johnson & Johnson were worth $43,819,000 as of its most recent filing with the Securities and Exchange Commission.

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

Johnson & Johnson Stock Performance

NYSE JNJ opened at $162.13 on Friday. The stock has a 50-day simple moving average of $158.19 and a two-hundred day simple moving average of $166.98. The firm has a market capitalization of $421.33 billion, a P/E ratio of 33.92, a PEG ratio of 2.78 and a beta of 0.53. Johnson & Johnson has a fifty-two week low of $150.11 and a fifty-two week high of $183.35. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.77 and a current ratio of 0.99.

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

Johnson & Johnson Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 6th. Stockholders of record on Tuesday, May 23rd will be given a dividend of $1.19 per share. The ex-dividend date of this dividend is Monday, May 22nd. This is a boost from Johnson & Johnson’s previous quarterly dividend of $1.13. This represents a $4.76 dividend on an annualized basis and a dividend yield of 2.94%. Johnson & Johnson’s dividend payout ratio (DPR) is 99.58%.

Insider Activity

In other news, insider James D. Swanson sold 1,062 shares of the firm’s stock in a transaction dated Monday, March 6th. The stock was sold at an average price of $154.66, for a total transaction of $164,248.92. Following the sale, the insider now directly owns 9,215 shares in the company, valued at approximately $1,425,191.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on JNJ. SVB Leerink lowered their price objective on Johnson & Johnson from $194.00 to $186.00 and set an “outperform” rating for the company in a research report on Friday, January 20th. Piper Sandler lowered their price objective on Johnson & Johnson from $55.00 to $52.00 in a research report on Monday, February 6th. Atlantic Securities reduced their target price on Johnson & Johnson from $168.00 to $167.00 and set a “neutral” rating for the company in a research note on Wednesday, April 19th. StockNews.com assumed coverage on Johnson & Johnson in a research note on Thursday, March 16th. They issued a “strong-buy” rating for the company. Finally, Guggenheim assumed coverage on Johnson & Johnson in a research note on Tuesday, February 28th. They issued a “neutral” rating and a $161.00 target price for the company. Seven research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Johnson & Johnson currently has an average rating of “Moderate Buy” and an average price target of $173.00.

About Johnson & Johnson

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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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