Northstar Asset Management Inc. Buys Shares of 16,396 Johnson & Johnson (NYSE:JNJ)

Posted by Defense World Staff on May 15th, 2023

Northstar Asset Management Inc. bought a new stake in shares of Johnson & Johnson (NYSE:JNJ – Get Rating) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 16,396 shares of the company’s stock, valued at approximately $2,896,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Veracity Capital LLC boosted its stake in Johnson & Johnson by 1.2% in the 4th quarter. Veracity Capital LLC now owns 5,027 shares of the company’s stock worth $888,000 after purchasing an additional 59 shares in the last quarter. Sandy Cove Advisors LLC raised its position in Johnson & Johnson by 1.6% during the 3rd quarter. Sandy Cove Advisors LLC now owns 3,703 shares of the company’s stock worth $605,000 after buying an additional 60 shares during the last quarter. LCM Capital Management Inc raised its position in Johnson & Johnson by 0.7% during the 4th quarter. LCM Capital Management Inc now owns 9,437 shares of the company’s stock worth $1,667,000 after buying an additional 61 shares during the last quarter. Arbor Investment Advisors LLC raised its position in Johnson & Johnson by 2.3% during the 4th quarter. Arbor Investment Advisors LLC now owns 2,697 shares of the company’s stock worth $476,000 after buying an additional 61 shares during the last quarter. Finally, Sierra Capital LLC raised its position in Johnson & Johnson by 0.6% during the 4th quarter. Sierra Capital LLC now owns 10,036 shares of the company’s stock worth $1,773,000 after buying an additional 61 shares during the last quarter. 67.94% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on JNJ shares. Raymond James cut their target price on shares of Johnson & Johnson from $185.00 to $181.00 and set an “outperform” rating for the company in a report on Wednesday, April 19th. Piper Sandler cut their target price on shares of Johnson & Johnson from $55.00 to $52.00 in a report on Monday, February 6th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $215.00 target price on shares of Johnson & Johnson in a report on Wednesday, February 1st. Atlantic Securities cut their price target on shares of Johnson & Johnson from $168.00 to $167.00 and set a “neutral” rating for the company in a report on Wednesday, April 19th. Finally, UBS Group started coverage on shares of Johnson & Johnson in a report on Tuesday, March 28th. They issued a “neutral” rating and a $164.00 price target for the company. Seven equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Johnson & Johnson currently has an average rating of “Moderate Buy” and a consensus target price of $173.00.

Johnson & Johnson Stock Down 0.1 %

Shares of NYSE:JNJ opened at $160.78 on Monday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.07 and a quick ratio of 0.85. The firm has a market capitalization of $417.82 billion, a PE ratio of 33.64, a price-to-earnings-growth ratio of 2.77 and a beta of 0.53. The firm’s 50-day moving average is $159.10 and its two-hundred day moving average is $166.69. Johnson & Johnson has a 1 year low of $150.11 and a 1 year high of $183.35.

Johnson & Johnson (NYSE:JNJ – Get Rating) last announced its quarterly earnings results on Tuesday, April 18th. The company reported $2.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.51 by $0.17. The firm had revenue of $24.75 billion during the quarter, compared to the consensus estimate of $23.61 billion. Johnson & Johnson had a return on equity of 36.13% and a net margin of 13.22%. The firm’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same period in the prior year, the company posted $2.67 earnings per share. Analysts predict that Johnson & Johnson will post 10.66 EPS for the current 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 issued a dividend of $1.19 per share. The ex-dividend date is Monday, May 22nd. This is an increase 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 (DPR) is currently 99.58%.

Insider Buying and Selling

In related news, insider James D. Swanson sold 1,062 shares of the 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 completion of the sale, the insider now directly owns 9,215 shares of the company’s stock, valued at $1,425,191.90. The sale was disclosed in a filing with the SEC, 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.

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

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