Auto Owners Insurance Co Takes Position in Johnson & Johnson (NYSE:JNJ)

Posted by on Jun 14th, 2023

Auto Owners Insurance Co acquired a new stake in Johnson & Johnson (NYSE:JNJ – Get Rating) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 312,760 shares of the company’s stock, valued at approximately $55,249,000. Johnson & Johnson accounts for 2.0% of Auto Owners Insurance Co’s portfolio, making the stock its 13th biggest holding.

Other hedge funds also recently modified their holdings of the company. BOS Asset Management LLC bought a new position in Johnson & Johnson in the fourth quarter worth $450,000. Benedict Financial Advisors Inc. lifted its position in Johnson & Johnson by 1.3% in the fourth quarter. Benedict Financial Advisors Inc. now owns 62,063 shares of the company’s stock worth $10,963,000 after purchasing an additional 778 shares during the period. Freedom Wealth Alliance LLC bought a new position in Johnson & Johnson in the fourth quarter worth $175,000. Zullo Investment Group Inc. lifted its position in Johnson & Johnson by 0.6% in the fourth quarter. Zullo Investment Group Inc. now owns 17,267 shares of the company’s stock worth $3,050,000 after purchasing an additional 108 shares during the period. Finally, Axxcess Wealth Management LLC lifted its position in Johnson & Johnson by 31.8% in the fourth quarter. Axxcess Wealth Management LLC now owns 43,151 shares of the company’s stock worth $7,623,000 after purchasing an additional 10,406 shares during the period. 67.94% of the stock is owned by institutional investors.

Johnson & Johnson Price Performance

Shares of JNJ stock opened at $160.74 on Wednesday. The stock has a 50-day moving average price of $160.85 and a 200 day moving average price of $164.18. The company has a quick ratio of 0.85, a current ratio of 1.07 and a debt-to-equity ratio of 0.49. The firm has a market cap of $417.72 billion, a price-to-earnings ratio of 33.63, a PEG ratio of 2.73 and a beta of 0.54. Johnson & Johnson has a 12 month low of $150.11 and a 12 month high of $183.35.

Johnson & Johnson (NYSE:JNJ – Get Rating) last announced its quarterly earnings data on Tuesday, April 18th. The company reported $2.68 EPS for the quarter, topping analysts’ consensus estimates of $2.51 by $0.17. The firm had revenue of $24.75 billion during the quarter, compared to analyst estimates of $23.61 billion. Johnson & Johnson had a return on equity of 36.13% and a net margin of 13.22%. The company’s revenue was up 5.6% on a year-over-year basis. During the same period last year, the company earned $2.67 earnings per share. Research analysts expect that Johnson & Johnson will post 10.66 EPS for the current year.

Johnson & Johnson Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 6th. Shareholders of record on Tuesday, May 23rd were issued a dividend of $1.19 per share. The ex-dividend date of this dividend was Monday, May 22nd. This represents a $4.76 dividend on an annualized basis and a yield of 2.96%. This is a boost from Johnson & Johnson’s previous quarterly dividend of $1.13. Johnson & Johnson’s dividend payout ratio (DPR) is 99.58%.

Analyst Ratings Changes

JNJ has been the subject of several research reports. Credit Suisse Group raised their target price on Johnson & Johnson from $168.00 to $170.00 in a research report on Friday, May 5th. UBS Group initiated coverage on Johnson & Johnson in a report on Tuesday, March 28th. They set a “neutral” rating and a $164.00 price objective for the company. Atlantic Securities cut their price objective on Johnson & Johnson from $168.00 to $167.00 and set a “neutral” rating for the company in a report on Wednesday, April 19th. Guggenheim initiated coverage on Johnson & Johnson in a report on Tuesday, February 28th. They set a “neutral” rating and a $161.00 price objective for the company. Finally, StockNews.com initiated coverage on Johnson & Johnson in a report on Thursday, May 18th. They set a “strong-buy” rating for the company. Seven research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Johnson & Johnson has an average rating of “Moderate Buy” and an average target price of $171.57.

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.

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

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