FARMERS & MERCHANTS TRUST Co OF LONG BEACH Buys 2,842 Shares of Johnson & Johnson (NYSE:JNJ)

Posted by Defense World Staff on May 6th, 2023

FARMERS & MERCHANTS TRUST Co OF LONG BEACH grew its stake in Johnson & Johnson (NYSE:JNJ – Get Rating) by 11.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 27,063 shares of the company’s stock after purchasing an additional 2,842 shares during the quarter. Johnson & Johnson comprises about 1.3% of FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s holdings, making the stock its 17th biggest holding. FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s holdings in Johnson & Johnson were worth $4,781,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of JNJ. Glassy Mountain Advisors Inc. purchased a new position in Johnson & Johnson during the fourth quarter valued at $35,000. Retirement Financial Solutions LLC bought a new position in shares of Johnson & Johnson in the 4th quarter worth about $40,000. TD Capital Management LLC purchased a new position in Johnson & Johnson during the 3rd quarter valued at about $48,000. VitalStone Financial LLC bought a new stake in Johnson & Johnson during the fourth quarter worth about $52,000. Finally, Iron Horse Wealth Management LLC grew its holdings in Johnson & Johnson by 112.8% in 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 during the period. 67.94% of the stock is owned by hedge funds and other institutional investors.

Johnson & Johnson Stock Performance

JNJ opened at $162.68 on Friday. The company has a current ratio of 1.07, a quick ratio of 0.77 and a debt-to-equity ratio of 0.49. The company has a market cap of $422.76 billion, a price-to-earnings ratio of 34.03, a PEG ratio of 2.78 and a beta of 0.53. The company’s 50 day moving average is $158.33 and its 200 day moving average is $166.96. Johnson & Johnson has a 12-month low of $150.11 and a 12-month high of $183.35.

Johnson & Johnson (NYSE:JNJ – Get Rating) last posted its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $23.61 billion. Johnson & Johnson had a net margin of 13.22% and a return on equity of 36.13%. The firm’s revenue was up 5.6% compared to the same quarter last year. During the same quarter last year, the firm posted $2.67 earnings per share. On average, equities research analysts predict that Johnson & Johnson will post 10.66 EPS 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 issued a $1.19 dividend. This is an increase from Johnson & Johnson’s previous quarterly dividend of $1.13. The ex-dividend date is Monday, May 22nd. This represents a $4.76 dividend on an annualized basis and a dividend yield of 2.93%. Johnson & Johnson’s dividend payout ratio (DPR) is presently 94.56%.

Insider Buying and Selling

In other Johnson & Johnson news, insider James D. Swanson sold 1,062 shares of Johnson & Johnson stock in a transaction that occurred on Monday, March 6th. The shares were sold at an average price of $154.66, for a total transaction of $164,248.92. Following the transaction, 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 available through the SEC website. 0.20% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

JNJ has been the subject of a number of recent research reports. Atlantic Securities lowered their price objective 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 started coverage on Johnson & Johnson in a research report on Thursday, March 16th. They issued a “strong-buy” rating for the company. Guggenheim began coverage on shares of Johnson & Johnson in a research report on Tuesday, February 28th. They set a “neutral” rating and a $161.00 price objective on the stock. Morgan Stanley lifted their target price on shares of Johnson & Johnson from $179.00 to $183.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 19th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $215.00 price target on shares of Johnson & Johnson in a report on Wednesday, February 1st. 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. Based on data from MarketBeat, Johnson & Johnson presently has an average rating of “Moderate Buy” and a consensus 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.

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

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