Burney Co. Reduces Stock Position in Johnson & Johnson (NYSE:JNJ)

Posted by on May 6th, 2023

Burney Co. trimmed its stake in shares of Johnson & Johnson (NYSE:JNJ – Get Rating) by 3.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 37,715 shares of the company’s stock after selling 1,251 shares during the quarter. Burney Co.’s holdings in Johnson & Johnson were worth $6,662,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Glassy Mountain Advisors Inc. bought a new position in shares of Johnson & Johnson in the fourth quarter worth $35,000. Retirement Financial Solutions LLC purchased a new position in Johnson & Johnson during the fourth quarter worth about $40,000. TD Capital Management LLC bought a new position in Johnson & Johnson in the 3rd quarter worth about $48,000. VitalStone Financial LLC purchased a new stake in shares of Johnson & Johnson in the 4th quarter valued at about $52,000. Finally, Iron Horse Wealth Management LLC grew its holdings in shares of 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 purchasing an additional 159 shares in the last quarter. Hedge funds and other institutional investors own 67.94% of the company’s stock.

Insider Transactions at Johnson & Johnson

In related news, insider James D. Swanson sold 1,062 shares of the firm’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 completion of the sale, the insider now owns 9,215 shares of the company’s stock, valued at $1,425,191.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on JNJ shares. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $215.00 target price on shares of Johnson & Johnson in a research note on Wednesday, February 1st. StockNews.com initiated coverage on shares of Johnson & Johnson in a report on Thursday, March 16th. They set a “strong-buy” rating for the company. UBS Group started coverage on Johnson & Johnson in a research note on Tuesday, March 28th. They issued a “neutral” rating and a $164.00 target price on the stock. Guggenheim assumed coverage on Johnson & Johnson in a research note on Tuesday, February 28th. They set a “neutral” rating and a $161.00 price target for the company. Finally, Raymond James decreased 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. Seven investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Johnson & Johnson has an average rating of “Moderate Buy” and an average target price of $173.00.

Johnson & Johnson Stock Up 0.3 %

Shares of Johnson & Johnson stock opened at $162.68 on Friday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.77 and a current ratio of 1.07. Johnson & Johnson has a 52-week low of $150.11 and a 52-week high of $183.35. The stock has a market capitalization of $422.76 billion, a price-to-earnings ratio of 34.03, a P/E/G ratio of 2.78 and a beta of 0.53. The company’s 50 day moving average price is $158.33 and its 200-day moving average price is $166.96.

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, topping the consensus estimate of $2.51 by $0.17. Johnson & Johnson had a net margin of 13.22% and a return on equity of 36.13%. The firm had revenue of $24.75 billion for the quarter, compared to analysts’ expectations of $23.61 billion. During the same quarter last year, the business earned $2.67 earnings per share. The business’s revenue was up 5.6% on a year-over-year basis. Equities research analysts forecast that Johnson & Johnson will post 10.66 EPS for the current 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 a boost from Johnson & Johnson’s previous quarterly dividend of $1.13. The ex-dividend date of this dividend is Monday, May 22nd. This represents a $4.76 annualized dividend and a dividend yield of 2.93%. Johnson & Johnson’s dividend payout ratio (DPR) is currently 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.

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Institutional Ownership by Quarter for Johnson & Johnson (NYSE:JNJ)

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