Everhart Financial Group Inc. Buys 640 Shares of Johnson & Johnson (NYSE:JNJ)

Posted by Defense World Staff on May 22nd, 2023

Everhart Financial Group Inc. boosted its holdings in Johnson & Johnson (NYSE:JNJ – Get Rating) by 7.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,118 shares of the company’s stock after purchasing an additional 640 shares during the quarter. Johnson & Johnson accounts for about 0.8% of Everhart Financial Group Inc.’s portfolio, making the stock its 28th largest holding. Everhart Financial Group Inc.’s holdings in Johnson & Johnson were worth $1,611,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Glassy Mountain Advisors Inc. acquired a new stake in Johnson & Johnson in the 4th quarter worth about $35,000. Retirement Financial Solutions LLC acquired a new position in shares of Johnson & Johnson in the 4th quarter valued at approximately $40,000. TD Capital Management LLC acquired a new position in shares of Johnson & Johnson in the 3rd quarter valued at approximately $48,000. VitalStone Financial LLC acquired a new position in shares of Johnson & Johnson in the 4th quarter valued at approximately $52,000. Finally, Iron Horse Wealth Management LLC raised its position in shares of Johnson & Johnson by 112.8% in the 4th quarter. Iron Horse Wealth Management LLC now owns 300 shares of the company’s stock valued at $53,000 after buying an additional 159 shares in the last quarter. Institutional investors and hedge funds own 67.94% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on JNJ. UBS Group began coverage on shares of Johnson & Johnson in a research report on Tuesday, March 28th. They set a “neutral” rating and a $164.00 price objective for the company. Piper Sandler lowered their price objective on shares of Johnson & Johnson from $55.00 to $52.00 in a research report on Monday, February 6th. Raymond James lowered their price objective 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. Credit Suisse Group upped their price objective on shares of Johnson & Johnson from $168.00 to $170.00 in a research report on Friday, May 5th. Finally, Atlantic Securities reduced their target price on shares of Johnson & Johnson from $168.00 to $167.00 and set a “neutral” rating on the stock in a report on Wednesday, April 19th. Seven equities research 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’s stock. According to data from MarketBeat.com, Johnson & Johnson currently has an average rating of “Moderate Buy” and an average target price of $173.00.

Johnson & Johnson Stock Performance

JNJ opened at $158.91 on Monday. 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 company’s fifty day moving average price is $159.70 and its two-hundred day moving average price is $166.20. Johnson & Johnson has a 1-year low of $150.11 and a 1-year high of $183.35. The company has a market cap of $412.96 billion, a price-to-earnings ratio of 33.24, a PEG ratio of 2.71 and a beta of 0.53.

Johnson & Johnson (NYSE:JNJ – Get Rating) last released its quarterly earnings data on Tuesday, April 18th. The company reported $2.68 earnings per share for the quarter, topping 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 firm had revenue of $24.75 billion for the quarter, compared to the consensus estimate of $23.61 billion. During the same quarter in the prior year, the company posted $2.67 earnings per share. The business’s revenue was up 5.6% on a year-over-year basis. On average, analysts expect that Johnson & Johnson will post 10.66 EPS for the current fiscal year.

Johnson & Johnson Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 6th. Stockholders of record on Tuesday, May 23rd will be issued a $1.19 dividend. The ex-dividend date is Monday, May 22nd. This represents a $4.76 annualized dividend and a dividend yield of 3.00%. This is an increase from Johnson & Johnson’s previous quarterly dividend of $1.13. Johnson & Johnson’s dividend payout ratio is currently 94.56%.

Insider Activity

In other news, insider James D. Swanson sold 1,062 shares of the stock in a transaction dated Monday, March 6th. The shares were 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 in the company, valued at $1,425,191.90. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.20% of the stock is currently owned by corporate insiders.

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.