Objective Capital Management LLC Grows Stock Position in Johnson & Johnson (NYSE:JNJ)

Posted by Defense World Staff on Jun 17th, 2023

Objective Capital Management LLC lifted its stake in Johnson & Johnson (NYSE:JNJ – Get Rating) by 3.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,491 shares of the company’s stock after buying an additional 125 shares during the period. Objective Capital Management LLC’s holdings in Johnson & Johnson were worth $617,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of JNJ. Cascade Investment Group Inc. purchased a new position in Johnson & Johnson during the 4th quarter valued at about $670,000. ST Germain D J Co. Inc. boosted its position in shares of Johnson & Johnson by 38.1% in the 4th quarter. ST Germain D J Co. Inc. now owns 232,572 shares of the company’s stock worth $11,226,000 after purchasing an additional 64,208 shares in the last quarter. Builder Investment Group Inc. ADV bought a new stake in shares of Johnson & Johnson in the 4th quarter worth approximately $5,102,000. Tandem Wealth Advisors LLC bought a new position in Johnson & Johnson in the 4th quarter valued at approximately $630,000. Finally, Centurion Wealth Management LLC bought a new position in Johnson & Johnson in the 4th quarter valued at approximately $1,146,000. Hedge funds and other institutional investors own 67.94% of the company’s stock.

Insider Activity at Johnson & Johnson

In related news, EVP Kathryn E. Wengel sold 12,465 shares of Johnson & Johnson stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 65,934 shares of the company’s stock, valued at $10,549,440. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.20% of the stock is currently owned by corporate insiders.

Johnson & Johnson Stock Performance

Shares of NYSE:JNJ opened at $164.23 on Friday. The firm has a market cap of $426.79 billion, a PE ratio of 34.36, a price-to-earnings-growth ratio of 2.76 and a beta of 0.54. The firm’s 50 day simple moving average is $160.73 and its 200-day simple moving average is $164.06. Johnson & Johnson has a one year low of $150.11 and a one year high of $183.35. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.85 and a current ratio of 1.07.

Johnson & Johnson (NYSE:JNJ – Get Rating) last issued its earnings results on Tuesday, April 18th. The company reported $2.68 EPS for the quarter, topping analysts’ consensus estimates of $2.51 by $0.17. The business 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 quarterly revenue was up 5.6% compared to the same quarter last year. During the same period last year, the company posted $2.67 earnings per share. As a group, equities analysts predict that Johnson & Johnson will post 10.66 EPS for the current year.

Johnson & Johnson Increases Dividend

The firm also recently disclosed 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 represents a $4.76 annualized dividend and a yield of 2.90%. 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 dividend payout ratio (DPR) is presently 99.58%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on JNJ shares. Credit Suisse Group increased their price target on Johnson & Johnson from $168.00 to $170.00 in a report on Friday, May 5th. StockNews.com initiated coverage on Johnson & Johnson in a report on Thursday, May 18th. They set a “strong-buy” rating on the stock. Atlantic Securities reduced their price objective on Johnson & Johnson from $168.00 to $167.00 and set a “neutral” rating for the company in a research note on Wednesday, April 19th. Raymond James reduced their price objective on Johnson & Johnson from $185.00 to $181.00 and set an “outperform” rating for the company in a research note on Wednesday, April 19th. Finally, Morgan Stanley upped their price objective on Johnson & Johnson from $179.00 to $183.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 19th. Seven investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target 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.