Keystone Financial Group Sells 1,298 Shares of Johnson & Johnson (NYSE:JNJ)

Posted by on May 10th, 2023

Keystone Financial Group cut its stake in Johnson & Johnson (NYSE:JNJ – Get Rating) by 4.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 27,991 shares of the company’s stock after selling 1,298 shares during the quarter. Johnson & Johnson accounts for 1.0% of Keystone Financial Group’s holdings, making the stock its 23rd biggest position. Keystone Financial Group’s holdings in Johnson & Johnson were worth $4,945,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Johnson & Johnson Stock Down 0.8 %

Shares of NYSE:JNJ opened at $161.05 on Wednesday. The stock has a market cap of $418.53 billion, a price-to-earnings ratio of 33.69, a PEG ratio of 2.78 and a beta of 0.53. The company has a quick ratio of 0.85, a current ratio of 1.07 and a debt-to-equity ratio of 0.49. Johnson & Johnson has a 12-month low of $150.11 and a 12-month high of $183.35. The business’s 50 day moving average is $158.62 and its 200 day moving average is $166.91.

Johnson & Johnson (NYSE:JNJ – Get Rating) last announced its earnings results on Tuesday, April 18th. The company reported $2.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.51 by $0.17. Johnson & Johnson had a return on equity of 36.13% and a net margin of 13.22%. The company had revenue of $24.75 billion for the quarter, compared to analysts’ expectations of $23.61 billion. During the same quarter in the previous year, the firm earned $2.67 earnings per share. Johnson & Johnson’s quarterly revenue was up 5.6% on a year-over-year basis. On average, sell-side 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 disclosed a quarterly dividend, which will be paid on Tuesday, June 6th. Shareholders of record on Tuesday, May 23rd will be given a $1.19 dividend. The ex-dividend date is Monday, May 22nd. This represents a $4.76 annualized dividend and a yield of 2.96%. This is a boost from Johnson & Johnson’s previous quarterly dividend of $1.13. Johnson & Johnson’s payout ratio is currently 94.56%.

Insiders Place Their Bets

In other Johnson & Johnson news, insider James D. Swanson sold 1,062 shares of the business’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 sale, the insider now directly owns 9,215 shares in the company, valued at $1,425,191.90. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on JNJ shares. Morgan Stanley increased their price objective on Johnson & Johnson from $179.00 to $183.00 and gave the company an “equal weight” rating in a report on Wednesday, April 19th. 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 note on Wednesday, April 19th. StockNews.com began coverage on Johnson & Johnson in a research report on Thursday, March 16th. They set a “strong-buy” rating on the stock. Guggenheim began coverage on Johnson & Johnson in a research report on Tuesday, February 28th. They set a “neutral” rating and a $161.00 price objective on the stock. Finally, Piper Sandler lowered their price objective on Johnson & Johnson from $55.00 to $52.00 in a research report on Monday, February 6th. Seven analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $173.00.

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.

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

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