Raleigh Capital Management Inc. Has $1 Million Stake in Johnson & Johnson (NYSE:JNJ)

Posted by Defense World Staff on May 10th, 2023

Raleigh Capital Management Inc. grew its position in shares of Johnson & Johnson (NYSE:JNJ – Get Rating) by 2.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,686 shares of the company’s stock after buying an additional 123 shares during the quarter. Raleigh Capital Management Inc.’s holdings in Johnson & Johnson were worth $1,004,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in JNJ. Veracity Capital LLC lifted its stake in shares of Johnson & Johnson by 1.2% during the fourth quarter. Veracity Capital LLC now owns 5,027 shares of the company’s stock valued at $888,000 after acquiring an additional 59 shares during the period. Sandy Cove Advisors LLC lifted its stake in shares of Johnson & Johnson by 1.6% during the third quarter. Sandy Cove Advisors LLC now owns 3,703 shares of the company’s stock valued at $605,000 after acquiring an additional 60 shares during the period. LCM Capital Management Inc lifted its stake in Johnson & Johnson by 0.7% in the fourth quarter. LCM Capital Management Inc now owns 9,437 shares of the company’s stock valued at $1,667,000 after buying an additional 61 shares during the period. Arbor Investment Advisors LLC lifted its stake in Johnson & Johnson by 2.3% in the fourth quarter. Arbor Investment Advisors LLC now owns 2,697 shares of the company’s stock valued at $476,000 after buying an additional 61 shares during the period. Finally, Magnolia Capital Advisors LLC lifted its stake in Johnson & Johnson by 0.7% in the third quarter. Magnolia Capital Advisors LLC now owns 8,883 shares of the company’s stock valued at $1,451,000 after buying an additional 62 shares during the period. 67.94% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

JNJ has been the topic of several analyst reports. Atlantic Securities cut their target price on Johnson & Johnson from $168.00 to $167.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 19th. UBS Group initiated 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. SVB Leerink cut their target price on Johnson & Johnson from $194.00 to $186.00 and set an “outperform” rating on the stock in a research note on Friday, January 20th. Raymond James dropped their price target on Johnson & Johnson from $185.00 to $181.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 19th. Finally, Guggenheim assumed coverage on Johnson & Johnson in a research report on Tuesday, February 28th. They set a “neutral” rating and a $161.00 price target on the stock. Seven equities research 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 company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $173.00.

Johnson & Johnson Stock Down 0.8 %

NYSE:JNJ opened at $161.05 on Wednesday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.85 and a current ratio of 1.07. The company has a market cap of $418.53 billion, a PE ratio of 33.69, a PEG ratio of 2.78 and a beta of 0.53. Johnson & Johnson has a 52-week low of $150.11 and a 52-week high of $183.35. The stock has a 50-day simple moving average of $158.62 and a 200 day simple moving average of $166.91.

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

Johnson & Johnson Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 6th. Stockholders of record on Tuesday, May 23rd will be given a $1.19 dividend. This represents a $4.76 dividend on an annualized basis and a dividend yield of 2.96%. This is a boost from Johnson & Johnson’s previous quarterly dividend of $1.13. The ex-dividend date is Monday, May 22nd. Johnson & Johnson’s dividend payout ratio (DPR) is presently 94.56%.

Insider Activity

In related 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 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 legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.20% of the company’s stock.

Johnson & Johnson Company 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.