Brooktree Capital Management Has $5.90 Million Stock Position in Johnson & Johnson (NYSE:JNJ)

Posted by Defense World Staff on May 9th, 2023

Brooktree Capital Management trimmed its stake in shares of Johnson & Johnson (NYSE:JNJ – Get Rating) by 1.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,412 shares of the company’s stock after selling 572 shares during the quarter. Johnson & Johnson makes up about 4.8% of Brooktree Capital Management’s portfolio, making the stock its 9th largest holding. Brooktree Capital Management’s holdings in Johnson & Johnson were worth $5,902,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in JNJ. Metis Global Partners LLC boosted its stake in shares of Johnson & Johnson by 66.5% in the 4th quarter. Metis Global Partners LLC now owns 76,937 shares of the company’s stock valued at $13,591,000 after purchasing an additional 30,728 shares during the last quarter. LPL Financial LLC boosted its stake in Johnson & Johnson by 6.8% during the fourth quarter. LPL Financial LLC now owns 2,464,908 shares of the company’s stock worth $435,426,000 after acquiring an additional 157,719 shares in the last quarter. Firethorn Wealth Partners LLC boosted its stake in Johnson & Johnson by 5.4% during the fourth quarter. Firethorn Wealth Partners LLC now owns 5,509 shares of the company’s stock worth $973,000 after acquiring an additional 281 shares in the last quarter. Biltmore Family Office LLC boosted its stake in Johnson & Johnson by 1.2% during the fourth quarter. Biltmore Family Office LLC now owns 17,217 shares of the company’s stock worth $3,041,000 after acquiring an additional 207 shares in the last quarter. Finally, HF Advisory Group LLC bought a new position in Johnson & Johnson during the fourth quarter worth $1,852,000. 67.94% of the stock is currently owned by institutional investors and hedge funds.

Johnson & Johnson Price Performance

Shares of JNJ stock opened at $162.31 on Tuesday. The stock’s 50-day simple moving average is $158.46 and its 200-day simple moving average is $166.96. The firm has a market capitalization of $421.80 billion, a price-to-earnings ratio of 33.96, 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 0.49, a quick ratio of 0.77 and a current ratio of 1.07.

Johnson & Johnson (NYSE:JNJ – Get Rating) last posted its quarterly earnings data on Tuesday, April 18th. The company reported $2.68 EPS for the quarter, beating the consensus estimate of $2.51 by $0.17. The firm 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 36.13% and a net margin of 13.22%. The firm’s revenue was up 5.6% compared to the same quarter last year. During the same period in the prior year, the company earned $2.67 EPS. As a group, equities analysts forecast that Johnson & Johnson will post 10.66 earnings per share for the current fiscal 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. This represents a $4.76 annualized dividend and a dividend yield of 2.93%. The ex-dividend date of this dividend is Monday, May 22nd. This is a positive change from Johnson & Johnson’s previous quarterly dividend of $1.13. Johnson & Johnson’s dividend payout ratio (DPR) is 99.58%.

Analyst Upgrades and Downgrades

JNJ has been the subject of several analyst reports. Credit Suisse Group increased their target price on shares of Johnson & Johnson from $168.00 to $170.00 in a report on Friday. Morgan Stanley raised their price objective 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. 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. Raymond James decreased their price objective on shares of Johnson & Johnson from $185.00 to $181.00 and set an “outperform” rating for the company in a report on Wednesday, April 19th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $215.00 target price on shares of Johnson & Johnson in a research note on Wednesday, February 1st. Seven equities 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 company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $173.00.

Insider Transactions at Johnson & Johnson

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 stock was 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 transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.20% of the company’s stock.

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.