Madison Wealth Management Acquires 3,335 Shares of Johnson & Johnson (NYSE:JNJ)

Posted by Defense World Staff on May 14th, 2023

Madison Wealth Management raised its holdings in Johnson & Johnson (NYSE:JNJ – Get Rating) by 23.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,541 shares of the company’s stock after purchasing an additional 3,335 shares during the quarter. Madison Wealth Management’s holdings in Johnson & Johnson were worth $3,099,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the business. DORCHESTER WEALTH MANAGEMENT Co lifted its position in shares of Johnson & Johnson by 8.6% during the 1st quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 67,618 shares of the company’s stock valued at $14,975,000 after buying an additional 5,327 shares during the last quarter. Cantor Fitzgerald Investment Advisor L.P lifted its position in shares of Johnson & Johnson by 88.9% during the 1st quarter. Cantor Fitzgerald Investment Advisor L.P now owns 175,194 shares of the company’s stock valued at $31,049,000 after buying an additional 82,429 shares during the last quarter. AMI Investment Management Inc. lifted its position in shares of Johnson & Johnson by 8.8% during the 1st quarter. AMI Investment Management Inc. now owns 18,305 shares of the company’s stock valued at $3,244,000 after buying an additional 1,475 shares during the last quarter. Equitable Holdings Inc. lifted its position in shares of Johnson & Johnson by 4.9% during the 1st quarter. Equitable Holdings Inc. now owns 45,673 shares of the company’s stock valued at $8,095,000 after buying an additional 2,119 shares during the last quarter. Finally, USS Investment Management Ltd lifted its position in shares of Johnson & Johnson by 2.4% during the 1st quarter. USS Investment Management Ltd now owns 860,371 shares of the company’s stock valued at $152,488,000 after buying an additional 20,528 shares during the last quarter. Institutional investors own 67.94% of the company’s stock.

Johnson & Johnson Stock Performance

NYSE:JNJ opened at $160.78 on Friday. The business’s 50-day moving average price is $159.10 and its two-hundred day moving average price is $166.73. Johnson & Johnson has a twelve month low of $150.11 and a twelve month high of $183.35. The stock has a market cap of $417.82 billion, a P/E ratio of 33.64, a PEG ratio of 2.77 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 (NYSE:JNJ – Get Rating) last released its quarterly earnings results on Tuesday, April 18th. The company reported $2.68 earnings per share for the quarter, beating the consensus estimate of $2.51 by $0.17. The firm had revenue of $24.75 billion for the quarter, compared to analysts’ expectations of $23.61 billion. Johnson & Johnson had a return on equity of 36.13% and a net margin of 13.22%. The company’s revenue was up 5.6% compared to the same quarter last year. During the same quarter last year, the firm posted $2.67 EPS. As a group, equities analysts predict that Johnson & Johnson will post 10.66 EPS for the current fiscal year.

Johnson & Johnson Increases Dividend

The company 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 dividend of $1.19 per share. The ex-dividend date is Monday, May 22nd. This is a positive change from Johnson & Johnson’s previous quarterly dividend of $1.13. This represents a $4.76 annualized dividend and a dividend yield of 2.96%. Johnson & Johnson’s dividend payout ratio is 99.58%.

Wall Street Analysts Forecast Growth

JNJ has been the topic of a number of recent research reports. Guggenheim initiated 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. StockNews.com assumed coverage on Johnson & Johnson in a research report on Thursday, March 16th. They set a “strong-buy” rating on the stock. Atlantic Securities dropped their price objective on Johnson & Johnson from $168.00 to $167.00 and set a “neutral” rating on the stock in a report on Wednesday, April 19th. Piper Sandler dropped their price objective on Johnson & Johnson from $55.00 to $52.00 in a report on Monday, February 6th. Finally, Raymond James dropped their price objective on Johnson & Johnson from $185.00 to $181.00 and set an “outperform” rating on the stock in a report on Wednesday, April 19th. Seven 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. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $173.00.

Insider Activity

In other news, insider James D. Swanson sold 1,062 shares of the stock in a transaction dated 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 approximately $1,425,191.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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.