Johnson & Johnson (NYSE:JNJ) is Abbrea Capital LLC’s 8th Largest Position

Posted by Defense World Staff on May 14th, 2023

Abbrea Capital LLC raised its stake in shares of Johnson & Johnson (NYSE:JNJ – Get Rating) by 1.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 67,101 shares of the company’s stock after buying an additional 941 shares during the period. Johnson & Johnson comprises about 2.1% of Abbrea Capital LLC’s portfolio, making the stock its 8th largest holding. Abbrea Capital LLC’s holdings in Johnson & Johnson were worth $11,853,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of JNJ. Nordwand Advisors LLC purchased a new position in shares of Johnson & Johnson in the 4th quarter valued at about $785,273,000. Savant Capital LLC increased its stake in shares of Johnson & Johnson by 8,568.8% in the 4th quarter. Savant Capital LLC now owns 3,630,127 shares of the company’s stock valued at $29,637,000 after purchasing an additional 3,588,251 shares in the last quarter. Edmp Inc. increased its stake in shares of Johnson & Johnson by 17,222.9% in the 4th quarter. Edmp Inc. now owns 3,223,265 shares of the company’s stock valued at $18,247,000 after purchasing an additional 3,204,658 shares in the last quarter. Vanguard Group Inc. increased its stake in Johnson & Johnson by 1.2% during the 3rd quarter. Vanguard Group Inc. now owns 245,340,875 shares of the company’s stock worth $40,078,885,000 after buying an additional 2,815,655 shares in the last quarter. Finally, GQG Partners LLC increased its stake in Johnson & Johnson by 64.4% during the 1st quarter. GQG Partners LLC now owns 6,501,761 shares of the company’s stock worth $1,151,931,000 after buying an additional 2,547,378 shares in the last quarter. Hedge funds and other institutional investors own 67.94% of the company’s stock.

Johnson & Johnson Trading Down 0.1 %

JNJ opened at $160.78 on Friday. Johnson & Johnson has a one year low of $150.11 and a one year high of $183.35. The stock has a market capitalization of $417.82 billion, a PE ratio of 33.64, a P/E/G ratio of 2.77 and a beta of 0.53. The business’s 50 day moving average price is $159.10 and its 200 day moving average price is $166.73. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.85 and a current ratio of 1.07.

Johnson & Johnson (NYSE:JNJ – Get Rating) last released its quarterly earnings data on Tuesday, April 18th. The company reported $2.68 EPS for the quarter, beating analysts’ consensus estimates of $2.51 by $0.17. Johnson & Johnson had a return on equity of 36.13% and a net margin of 13.22%. The firm had revenue of $24.75 billion for the quarter, compared to analysts’ expectations of $23.61 billion. During the same period in the prior year, the firm posted $2.67 earnings per share. The firm’s quarterly revenue was up 5.6% on a year-over-year basis. As a group, equities research analysts expect that Johnson & Johnson will post 10.66 EPS for the current year.

Johnson & Johnson Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 6th. Shareholders of record on Tuesday, May 23rd will be paid a dividend of $1.19 per share. This represents a $4.76 dividend on an annualized basis and a 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 is 99.58%.

Insiders Place Their Bets

In other Johnson & Johnson news, insider James D. Swanson sold 1,062 shares of the company’s stock in a transaction 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 directly owns 9,215 shares in the company, valued at $1,425,191.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.20% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Credit Suisse Group boosted their price objective on Johnson & Johnson from $168.00 to $170.00 in a research note on Friday, May 5th. Morgan Stanley boosted their price objective on Johnson & Johnson from $179.00 to $183.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 19th. SVB Leerink cut their price objective on Johnson & Johnson from $194.00 to $186.00 and set an “outperform” rating for the company in a research note on Friday, January 20th. StockNews.com initiated coverage on Johnson & Johnson in a research note on Thursday, March 16th. They set a “strong-buy” rating for the company. Finally, Atlantic Securities lowered their target price on Johnson & Johnson from $168.00 to $167.00 and set a “neutral” rating on the stock in a report on Wednesday, April 19th. Seven analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Johnson & Johnson currently has a consensus 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.