Gateway Wealth Partners LLC Takes $1.03 Million Position in Johnson & Johnson (NYSE:JNJ)

Posted by on Jun 15th, 2023

Gateway Wealth Partners LLC bought a new stake in shares of Johnson & Johnson (NYSE:JNJ – Get Rating) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund bought 5,850 shares of the company’s stock, valued at approximately $1,033,000.

Several other large investors also recently added to or reduced their stakes in JNJ. Glassy Mountain Advisors Inc. bought a new stake in shares of Johnson & Johnson in the fourth quarter valued at about $35,000. GW&K Investment Management LLC acquired a new stake in shares of Johnson & Johnson during the fourth quarter worth approximately $35,000. Dark Forest Capital Management LP increased its holdings in shares of Johnson & Johnson by 1,044.4% during the fourth quarter. Dark Forest Capital Management LP now owns 206 shares of the company’s stock worth $36,000 after buying an additional 188 shares in the last quarter. Retirement Financial Solutions LLC acquired a new stake in shares of Johnson & Johnson during the fourth quarter worth approximately $40,000. Finally, Kepos Capital LP acquired a new stake in shares of Johnson & Johnson in the fourth quarter valued at approximately $45,000. 67.94% of the stock is owned by institutional investors and hedge funds.

Johnson & Johnson Stock Up 0.5 %

Shares of JNJ stock opened at $161.56 on Thursday. The company has a current ratio of 1.07, a quick ratio of 0.85 and a debt-to-equity ratio of 0.49. Johnson & Johnson has a 1 year low of $150.11 and a 1 year high of $183.35. The firm’s fifty day moving average price is $160.77 and its two-hundred day moving average price is $164.16. The firm has a market capitalization of $419.85 billion, a P/E ratio of 33.80, a PEG ratio of 2.73 and a beta of 0.54.

Johnson & Johnson (NYSE:JNJ – Get Rating) last issued its quarterly 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. The firm had revenue of $24.75 billion for the quarter, compared to analyst estimates of $23.61 billion. Johnson & Johnson had a net margin of 13.22% and a return on equity of 36.13%. The company’s revenue was up 5.6% compared to the same quarter last year. During the same period in the previous year, the business earned $2.67 EPS. On average, equities analysts predict that Johnson & Johnson will post 10.66 EPS for the current fiscal year.

Johnson & Johnson Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 6th. Investors of record on Tuesday, May 23rd were issued a dividend of $1.19 per share. This is an increase from Johnson & Johnson’s previous quarterly dividend of $1.13. The ex-dividend date of this dividend was Monday, May 22nd. This represents a $4.76 annualized dividend and a dividend yield of 2.95%. Johnson & Johnson’s payout ratio is presently 99.58%.

Analyst Ratings Changes

JNJ has been the subject of a number of research reports. Citigroup initiated coverage on shares of Johnson & Johnson in a report on Tuesday, May 30th. They issued a “buy” rating and a $185.00 price target for the company. Raymond James lowered their price target on shares of Johnson & Johnson from $185.00 to $181.00 and set an “outperform” rating for the company in a report on Wednesday, April 19th. Atlantic Securities reduced their price objective on shares of Johnson & Johnson from $168.00 to $167.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 19th. StockNews.com assumed coverage on shares of Johnson & Johnson in a research note on Thursday, May 18th. They issued a “strong-buy” rating on the stock. Finally, Guggenheim assumed coverage on shares of Johnson & Johnson in a research note on Tuesday, February 28th. They issued a “neutral” rating and a $161.00 price objective on the stock. Seven research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $171.57.

Insider Buying and Selling

In related news, EVP Kathryn E. Wengel sold 12,465 shares of Johnson & Johnson stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $160.00, for a total transaction of $1,994,400.00. Following the completion of the sale, the executive vice president now owns 65,934 shares of the company’s stock, valued at approximately $10,549,440. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.20% of the stock is currently owned by 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.

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

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