Johnson & Johnson (NYSE:JNJ) Shares Sold by Baltimore Washington Financial Advisors Inc.

Posted by Defense World Staff on May 22nd, 2023

Baltimore Washington Financial Advisors Inc. decreased its stake in Johnson & Johnson (NYSE:JNJ – Get Rating) by 18.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,929 shares of the company’s stock after selling 443 shares during the period. Baltimore Washington Financial Advisors Inc.’s holdings in Johnson & Johnson were worth $341,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. DORCHESTER WEALTH MANAGEMENT Co increased 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 purchasing an additional 5,327 shares during the period. Cantor Fitzgerald Investment Advisor L.P increased 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 purchasing an additional 82,429 shares during the period. AMI Investment Management Inc. increased 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 purchasing an additional 1,475 shares during the period. Equitable Holdings Inc. increased 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 purchasing an additional 2,119 shares during the period. Finally, USS Investment Management Ltd grew its holdings in shares of Johnson & Johnson by 2.4% in the 1st quarter. USS Investment Management Ltd now owns 860,371 shares of the company’s stock worth $152,488,000 after acquiring an additional 20,528 shares during the last quarter. 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 company’s stock in a transaction that occurred 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 sale, the insider now directly owns 9,215 shares in the company, valued at approximately $1,425,191.90. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on JNJ shares. Raymond James decreased their target price on Johnson & Johnson from $185.00 to $181.00 and set an “outperform” rating on the stock in a report on Wednesday, April 19th. Cantor Fitzgerald restated an “overweight” rating and issued a $215.00 target price on shares of Johnson & Johnson in a report on Wednesday, February 1st. Credit Suisse Group lifted their target price on Johnson & Johnson from $168.00 to $170.00 in a report on Friday, May 5th. UBS Group assumed coverage on Johnson & Johnson in a report on Tuesday, March 28th. They set a “neutral” rating and a $164.00 price target on the stock. Finally, StockNews.com assumed coverage on Johnson & Johnson in a report on Thursday. They set a “strong-buy” rating on the stock. Seven equities research 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 MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $173.00.

Johnson & Johnson Price Performance

Shares of NYSE:JNJ opened at $158.91 on Monday. Johnson & Johnson has a fifty-two week low of $150.11 and a fifty-two week high of $183.35. The business has a 50-day moving average of $159.70 and a two-hundred day moving average of $166.20. The stock has a market capitalization of $412.96 billion, a P/E ratio of 33.24, a P/E/G ratio of 2.71 and a beta of 0.53. 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 announced its quarterly earnings results on Tuesday, April 18th. The company reported $2.68 earnings per share for the quarter, topping analysts’ consensus estimates of $2.51 by $0.17. Johnson & Johnson had a return on equity of 36.13% and a net margin of 13.22%. The company had revenue of $24.75 billion during the quarter, compared to analysts’ expectations of $23.61 billion. During the same quarter in the previous year, the firm earned $2.67 earnings per share. The business’s quarterly revenue was up 5.6% compared to the same quarter last year. On average, equities research analysts predict that Johnson & Johnson will post 10.66 EPS 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. Investors of record on Tuesday, May 23rd will be paid a dividend of $1.19 per share. This represents a $4.76 annualized dividend and a yield of 3.00%. This is a positive change from Johnson & Johnson’s previous quarterly dividend of $1.13. The ex-dividend date is Monday, May 22nd. Johnson & Johnson’s payout ratio is currently 94.56%.

Johnson & Johnson 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.