Johnson & Johnson (NYSE:JNJ) is Resources Management Corp CT ADV’s 6th Largest Position

Posted by Defense World Staff on May 14th, 2023

Resources Management Corp CT ADV cut its position in shares of Johnson & Johnson (NYSE:JNJ – Get Rating) by 0.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 91,605 shares of the company’s stock after selling 290 shares during the quarter. Johnson & Johnson makes up 2.6% of Resources Management Corp CT ADV’s investment portfolio, making the stock its 6th largest position. Resources Management Corp CT ADV’s holdings in Johnson & Johnson were worth $16,182,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Sierra Capital LLC grew its holdings in shares of Johnson & Johnson by 0.6% during the fourth quarter. Sierra Capital LLC now owns 10,036 shares of the company’s stock worth $1,773,000 after buying an additional 61 shares in the last quarter. John G Ullman & Associates Inc. grew its holdings in shares of Johnson & Johnson by 60.6% during the fourth quarter. John G Ullman & Associates Inc. now owns 2,252 shares of the company’s stock worth $398,000 after buying an additional 850 shares in the last quarter. River Street Advisors LLC acquired a new stake in shares of Johnson & Johnson in the fourth quarter worth approximately $1,975,000. Regent Peak Wealth Advisors LLC boosted its position in shares of Johnson & Johnson by 2.4% in the fourth quarter. Regent Peak Wealth Advisors LLC now owns 19,113 shares of the company’s stock worth $3,375,000 after acquiring an additional 446 shares during the last quarter. Finally, Semus Wealth Partners LLC acquired a new stake in shares of Johnson & Johnson in the fourth quarter worth approximately $2,070,000. 67.94% of the stock is currently owned by hedge funds and other institutional investors.

Johnson & Johnson Trading Down 0.1 %

NYSE JNJ opened at $160.78 on Friday. The company’s fifty day simple moving average is $159.10 and its 200-day simple moving average is $166.73. Johnson & Johnson has a 52 week low of $150.11 and a 52 week high of $183.35. The company has a current ratio of 1.07, a quick ratio of 0.85 and a debt-to-equity ratio of 0.49. 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.

Johnson & Johnson (NYSE:JNJ – Get Rating) last posted its earnings results on Tuesday, April 18th. The company reported $2.68 EPS for the quarter, topping analysts’ consensus estimates of $2.51 by $0.17. Johnson & Johnson had a net margin of 13.22% and a return on equity of 36.13%. The business had revenue of $24.75 billion for the quarter, compared to analysts’ expectations of $23.61 billion. During the same period in the previous year, the company posted $2.67 earnings per share. The business’s revenue for the quarter was up 5.6% compared to the same quarter last year. Equities research analysts predict that Johnson & Johnson will post 10.66 EPS for the current fiscal year.

Johnson & Johnson Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 6th. Investors of record on Tuesday, May 23rd will be paid a $1.19 dividend. This represents a $4.76 dividend on an annualized basis and a dividend yield of 2.96%. The ex-dividend date is Monday, May 22nd. This is a positive change from Johnson & Johnson’s previous quarterly dividend of $1.13. Johnson & Johnson’s payout ratio is 99.58%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Piper Sandler decreased their target price on shares of Johnson & Johnson from $55.00 to $52.00 in a research report on Monday, February 6th. Atlantic Securities decreased their target price on shares of Johnson & Johnson from $168.00 to $167.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 19th. StockNews.com assumed coverage on shares of Johnson & Johnson in a research report on Thursday, March 16th. They issued a “strong-buy” rating on the stock. Guggenheim assumed coverage on shares of Johnson & Johnson in a research report on Tuesday, February 28th. They issued a “neutral” rating and a $161.00 target price on the stock. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $215.00 price target on shares of Johnson & Johnson in a research report on Wednesday, February 1st. Seven analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $173.00.

Insider Buying and Selling

In related news, insider James D. Swanson sold 1,062 shares of Johnson & Johnson stock in a transaction on Monday, March 6th. The shares were sold at an average price of $154.66, for a total value of $164,248.92. Following the completion of the sale, the insider now owns 9,215 shares in the company, valued at $1,425,191.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 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.