Pioneer Trust Bank N A OR Buys 5,388 Shares of Johnson & Johnson (NYSE:JNJ)

Posted by Defense World Staff on May 15th, 2023

Pioneer Trust Bank N A OR increased its stake in Johnson & Johnson (NYSE:JNJ – Get Rating) by 12.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 48,300 shares of the company’s stock after acquiring an additional 5,388 shares during the period. Johnson & Johnson comprises about 2.6% of Pioneer Trust Bank N A OR’s holdings, making the stock its 14th largest holding. Pioneer Trust Bank N A OR’s holdings in Johnson & Johnson were worth $8,532,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of JNJ. Salomon & Ludwin LLC increased its holdings in Johnson & Johnson by 11.4% during the 4th quarter. Salomon & Ludwin LLC now owns 12,168 shares of the company’s stock valued at $2,149,000 after purchasing an additional 1,244 shares during the period. Jag Capital Management LLC increased its holdings in Johnson & Johnson by 2.8% during the 4th quarter. Jag Capital Management LLC now owns 7,869 shares of the company’s stock valued at $1,390,000 after purchasing an additional 214 shares during the period. Prime Capital Investment Advisors LLC increased its holdings in Johnson & Johnson by 55.4% during the 4th quarter. Prime Capital Investment Advisors LLC now owns 184,358 shares of the company’s stock valued at $32,567,000 after purchasing an additional 65,715 shares during the period. Abbrea Capital LLC increased its holdings in Johnson & Johnson by 1.4% during the 4th quarter. Abbrea Capital LLC now owns 67,101 shares of the company’s stock valued at $11,853,000 after purchasing an additional 941 shares during the period. Finally, Madison Wealth Management increased its holdings in Johnson & Johnson by 23.5% during the 4th quarter. Madison Wealth Management now owns 17,541 shares of the company’s stock valued at $3,099,000 after purchasing an additional 3,335 shares during the period. Institutional investors own 67.94% of the company’s stock.

Insider Activity

In other 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 transaction, the insider now directly owns 9,215 shares of the company’s stock, valued at approximately $1,425,191.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.20% of the company’s stock.

Johnson & Johnson Stock Performance

JNJ stock opened at $160.78 on Monday. The stock 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. Johnson & Johnson has a 12-month low of $150.11 and a 12-month 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’s 50 day simple moving average is $159.10 and its 200 day simple moving average is $166.69.

Johnson & Johnson (NYSE:JNJ – Get Rating) last released its quarterly earnings data on Tuesday, April 18th. The company reported $2.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.51 by $0.17. The business 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 firm’s quarterly revenue was up 5.6% on a year-over-year basis. During the same period in the prior year, the firm posted $2.67 EPS. As a group, research analysts forecast that Johnson & Johnson will post 10.66 earnings per share for the current fiscal year.

Johnson & Johnson Increases Dividend

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

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Piper Sandler reduced their price target on Johnson & Johnson from $55.00 to $52.00 in a report on Monday, February 6th. UBS Group assumed coverage on Johnson & Johnson in a report on Tuesday, March 28th. They set a “neutral” rating and a $164.00 target price on the stock. SVB Leerink reduced their target price on Johnson & Johnson from $194.00 to $186.00 and set an “outperform” rating on the stock in a report on Friday, January 20th. Atlantic Securities reduced 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. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $215.00 target price on shares of Johnson & Johnson in a report on Wednesday, February 1st. Seven analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus 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.