BOS Asset Management LLC Acquires New Shares in Johnson & Johnson (NYSE:JNJ)

Posted by on Jun 14th, 2023

BOS Asset Management LLC acquired a new stake in shares of Johnson & Johnson (NYSE:JNJ – Get Rating) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 2,548 shares of the company’s stock, valued at approximately $450,000.

Several other hedge funds also recently modified their holdings of JNJ. Glassy Mountain Advisors Inc. acquired a new stake in shares of Johnson & Johnson during the 4th quarter valued at $35,000. GW&K Investment Management LLC acquired a new stake in shares of Johnson & Johnson during the 4th quarter valued at $35,000. Dark Forest Capital Management LP boosted its holdings in shares of Johnson & Johnson by 1,044.4% during the 4th quarter. Dark Forest Capital Management LP now owns 206 shares of the company’s stock valued at $36,000 after acquiring an additional 188 shares in the last quarter. Retirement Financial Solutions LLC acquired a new stake in shares of Johnson & Johnson during the 4th quarter valued at $40,000. Finally, Kepos Capital LP acquired a new stake in shares of Johnson & Johnson during the 4th quarter valued at $45,000. Institutional investors and hedge funds own 67.94% of the company’s stock.

Johnson & Johnson Stock Performance

Shares of Johnson & Johnson stock opened at $160.74 on Wednesday. Johnson & Johnson has a one year low of $150.11 and a one year high of $183.35. The firm has a market capitalization of $417.72 billion, a price-to-earnings ratio of 33.63, a PEG ratio of 2.73 and a beta of 0.54. The business has a 50-day simple moving average of $160.85 and a 200 day simple moving average of $164.18. 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 issued its earnings results on Tuesday, April 18th. The company reported $2.68 EPS for the quarter, beating 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 business had revenue of $24.75 billion during the quarter, compared to analyst estimates of $23.61 billion. During the same period in the previous year, the company posted $2.67 EPS. The firm’s revenue was up 5.6% compared to the same quarter last year. On average, research analysts anticipate that Johnson & Johnson will post 10.66 earnings per share for the current fiscal year.

Johnson & Johnson Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 6th. Investors of record on Tuesday, May 23rd were given a $1.19 dividend. This represents a $4.76 dividend on an annualized basis and a yield of 2.96%. This is a positive change from Johnson & Johnson’s previous quarterly dividend of $1.13. The ex-dividend date of this dividend was Monday, May 22nd. Johnson & Johnson’s payout ratio is presently 99.58%.

Analyst Upgrades and Downgrades

JNJ has been the topic of several recent research reports. Citigroup initiated coverage on Johnson & Johnson in a report on Tuesday, May 30th. They set a “buy” rating and a $185.00 target price on the stock. Credit Suisse Group lifted their target price on Johnson & Johnson from $168.00 to $170.00 in a report on Friday, May 5th. Raymond James cut 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. UBS Group initiated 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. Finally, Guggenheim initiated coverage on Johnson & Johnson in a report on Tuesday, February 28th. They set a “neutral” rating and a $161.00 target price on the stock. 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $171.57.

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.

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

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