FORA Capital LLC Makes New Investment in Johnson & Johnson (NYSE:JNJ)

Posted by Defense World Staff on May 15th, 2023

FORA Capital LLC purchased a new position in Johnson & Johnson (NYSE:JNJ – Get Rating) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 12,238 shares of the company’s stock, valued at approximately $2,162,000.

Several other hedge funds have also bought and sold shares of JNJ. Ieq Capital LLC lifted its stake in Johnson & Johnson by 5.1% during the 3rd quarter. Ieq Capital LLC now owns 128,012 shares of the company’s stock valued at $20,912,000 after acquiring an additional 6,154 shares during the period. Duality Advisers LP bought a new position in shares of Johnson & Johnson during the 4th quarter valued at approximately $4,342,000. Modera Wealth Management LLC lifted its position in Johnson & Johnson by 18.0% in the fourth quarter. Modera Wealth Management LLC now owns 44,189 shares of the company’s stock worth $7,806,000 after buying an additional 6,738 shares during the last quarter. RFG Advisory LLC lifted its position in shares of Johnson & Johnson by 2.7% during the third quarter. RFG Advisory LLC now owns 22,434 shares of the company’s stock worth $3,900,000 after purchasing an additional 594 shares during the last quarter. Finally, Willis Investment Counsel increased its stake in shares of Johnson & Johnson by 0.4% during the fourth quarter. Willis Investment Counsel now owns 328,884 shares of the company’s stock valued at $58,097,000 after buying an additional 1,358 shares during the period. 67.94% of the stock is currently owned by institutional investors.

Johnson & Johnson Stock Down 0.1 %

JNJ opened at $160.78 on Monday. The business has a 50 day simple moving average of $159.10 and a 200-day simple moving average of $166.69. The stock has a market capitalization of $417.82 billion, a P/E ratio of 33.64, a P/E/G ratio of 2.77 and a beta of 0.53. Johnson & Johnson has a 12 month low of $150.11 and a 12 month high of $183.35. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.07 and a quick ratio of 0.85.

Johnson & Johnson (NYSE:JNJ – Get Rating) last issued its quarterly earnings data on Tuesday, April 18th. The company reported $2.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.51 by $0.17. The firm had revenue of $24.75 billion during 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%. Johnson & Johnson’s revenue was up 5.6% on a year-over-year basis. During the same period in the previous year, the firm posted $2.67 earnings per share. On average, equities analysts anticipate that Johnson & Johnson will post 10.66 earnings per share 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. Shareholders of record on Tuesday, May 23rd will be given a dividend of $1.19 per share. This is an increase from Johnson & Johnson’s previous quarterly dividend of $1.13. The ex-dividend date is Monday, May 22nd. This represents a $4.76 annualized dividend and a yield of 2.96%. Johnson & Johnson’s dividend payout ratio (DPR) is presently 99.58%.

Insiders Place Their Bets

In other news, insider James D. Swanson sold 1,062 shares of Johnson & Johnson 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 completion of the sale, the insider now owns 9,215 shares of the company’s stock, valued at $1,425,191.90. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.20% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms have issued reports on JNJ. Cantor Fitzgerald reiterated an “overweight” rating and issued a $215.00 target price on shares of Johnson & Johnson in a research note on Wednesday, February 1st. Atlantic Securities decreased their price target 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. StockNews.com started coverage on Johnson & Johnson in a research note on Thursday, March 16th. They set a “strong-buy” rating on the stock. Credit Suisse Group increased their price target on Johnson & Johnson from $168.00 to $170.00 in a research report on Friday, May 5th. Finally, UBS Group started coverage on Johnson & Johnson in a report on Tuesday, March 28th. They issued a “neutral” rating and a $164.00 price objective on the stock. 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, Johnson & Johnson has a consensus rating of “Moderate Buy” and a consensus target price 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.