Capstone Triton Financial Group LLC Buys New Shares in Johnson & Johnson (NYSE:JNJ)

Posted by on Jun 20th, 2023

Capstone Triton Financial Group LLC acquired a new position in shares of Johnson & Johnson (NYSE:JNJ – Get Rating) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 1,362 shares of the company’s stock, valued at approximately $211,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in JNJ. Glassy Mountain Advisors Inc. acquired a new stake in shares of Johnson & Johnson during the fourth quarter worth $35,000. GW&K Investment Management LLC acquired a new stake in shares of Johnson & Johnson during the fourth quarter worth $35,000. Dark Forest Capital Management LP lifted 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 $40,000. Finally, Ruedi Wealth Management Inc. acquired a new stake in shares of Johnson & Johnson during the fourth quarter worth $42,000. 67.57% of the stock is owned by institutional investors.

Insider Activity at Johnson & Johnson

In related news, EVP Kathryn E. Wengel sold 12,465 shares of the company’s stock in a transaction that occurred on Monday, June 12th. The stock was sold at an average price of $160.00, for a total value of $1,994,400.00. Following the sale, the executive vice president now directly owns 65,934 shares in the company, valued at $10,549,440. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on JNJ shares. Raymond James dropped their target price on Johnson & Johnson from $185.00 to $181.00 and set an “outperform” rating for the company in a report on Wednesday, April 19th. Morgan Stanley boosted their price target on Johnson & Johnson from $179.00 to $183.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 19th. Credit Suisse Group boosted their price target on Johnson & Johnson from $168.00 to $170.00 in a research note on Friday, May 5th. Guggenheim started coverage on Johnson & Johnson in a research note on Tuesday, February 28th. They issued a “neutral” rating and a $161.00 price target for the company. Finally, Citigroup started coverage on Johnson & Johnson in a research note on Tuesday, May 30th. They issued a “buy” rating and a $185.00 price target for the company. Seven investment 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 company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $171.57.

Johnson & Johnson Stock Performance

NYSE:JNJ opened at $164.23 on Tuesday. The stock has a market cap of $426.79 billion, a P/E ratio of 34.36, a price-to-earnings-growth ratio of 2.80 and a beta of 0.54. 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 stock’s 50-day moving average is $160.73 and its 200-day moving average is $163.78. Johnson & Johnson has a 1-year low of $150.11 and a 1-year high of $183.35.

Johnson & Johnson (NYSE:JNJ – Get Rating) last released its quarterly earnings results 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. The company had revenue of $24.75 billion for the quarter, compared to analysts’ expectations of $23.61 billion. Johnson & Johnson had a return on equity of 36.13% and a net margin of 13.22%. The business’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same period in the previous year, the business posted $2.67 earnings per share. Equities research analysts anticipate that Johnson & Johnson will post 10.66 earnings per share for the current year.

Johnson & Johnson Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 6th. Stockholders of record on Tuesday, May 23rd were issued a dividend of $1.19 per share. This is a boost from Johnson & Johnson’s previous quarterly dividend of $1.13. This represents a $4.76 annualized dividend and a dividend yield of 2.90%. The ex-dividend date was Monday, May 22nd. Johnson & Johnson’s payout ratio is 99.58%.

Johnson & Johnson 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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