Johnson & Johnson (NYSE:JNJ) Stake Trimmed by Boyar Asset Management Inc.

Posted by Defense World Staff on May 22nd, 2023

Boyar Asset Management Inc. reduced its position in Johnson & Johnson (NYSE:JNJ – Get Rating) by 1.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,990 shares of the company’s stock after selling 199 shares during the quarter. Johnson & Johnson accounts for approximately 2.7% of Boyar Asset Management Inc.’s holdings, making the stock its 10th biggest holding. Boyar Asset Management Inc.’s holdings in Johnson & Johnson were worth $3,355,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in JNJ. Bedell Frazier Investment Counseling LLC grew its stake in Johnson & Johnson by 0.3% in the 4th quarter. Bedell Frazier Investment Counseling LLC now owns 79,457 shares of the company’s stock worth $14,036,000 after acquiring an additional 220 shares in the last quarter. abrdn plc boosted its stake in shares of Johnson & Johnson by 6.3% during the fourth quarter. abrdn plc now owns 1,114,992 shares of the company’s stock valued at $196,963,000 after purchasing an additional 66,370 shares in the last quarter. Detalus Advisors LLC boosted its stake in shares of Johnson & Johnson by 9.5% during the fourth quarter. Detalus Advisors LLC now owns 5,125 shares of the company’s stock valued at $905,000 after purchasing an additional 445 shares in the last quarter. RIA Advisory Group LLC bought a new position in shares of Johnson & Johnson during the fourth quarter valued at approximately $4,466,000. Finally, Running Point Capital Advisors LLC lifted its position in Johnson & Johnson by 6.8% during the fourth quarter. Running Point Capital Advisors LLC now owns 1,689 shares of the company’s stock valued at $298,000 after acquiring an additional 107 shares during the last quarter. 67.94% of the stock is owned by hedge funds and other institutional investors.

Johnson & Johnson Stock Up 0.3 %

Shares of NYSE JNJ opened at $158.91 on Monday. The company’s 50-day simple moving average is $159.70 and its 200-day simple moving average is $166.20. Johnson & Johnson has a 52-week low of $150.11 and a 52-week high of $183.35. The firm has a market cap of $412.96 billion, a price-to-earnings ratio of 33.24, a price-to-earnings-growth ratio of 2.71 and a beta of 0.53. The company has a quick ratio of 0.85, a current ratio of 1.07 and a debt-to-equity ratio of 0.49.

Johnson & Johnson (NYSE:JNJ – Get Rating) last announced its earnings results 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. 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 analyst estimates of $23.61 billion. During the same quarter last year, the business earned $2.67 earnings per share. The company’s revenue for the quarter was up 5.6% compared to the same quarter last year. Equities analysts predict that Johnson & Johnson will post 10.66 EPS for the current fiscal year.

Johnson & Johnson Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 6th. Investors of record on Tuesday, May 23rd will be given a dividend of $1.19 per share. The ex-dividend date is Monday, May 22nd. This is a positive change from Johnson & Johnson’s previous quarterly dividend of $1.13. This represents a $4.76 dividend on an annualized basis and a yield of 3.00%. Johnson & Johnson’s payout ratio is presently 94.56%.

Insider Buying and Selling

In related news, insider James D. Swanson sold 1,062 shares of the business’s stock in a transaction dated Monday, March 6th. The shares were 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 in the company, valued at $1,425,191.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.20% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

JNJ has been the subject of a number of analyst reports. Raymond James decreased their target price on shares of Johnson & Johnson from $185.00 to $181.00 and set an “outperform” rating for the company in a research report on Wednesday, April 19th. Morgan Stanley increased their target price on shares of Johnson & Johnson from $179.00 to $183.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 19th. 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. UBS Group began 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. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $215.00 price target on shares of Johnson & Johnson in a report on Wednesday, February 1st. Seven investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $173.00.

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.