Platte River Wealth Advisors LLC Raises Position in Johnson & Johnson (NYSE:JNJ)

Posted by on Jun 21st, 2023

Platte River Wealth Advisors LLC increased its holdings in Johnson & Johnson (NYSE:JNJ – Get Rating) by 8.8% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,301 shares of the company’s stock after buying an additional 266 shares during the period. Platte River Wealth Advisors LLC’s holdings in Johnson & Johnson were worth $512,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Moneta Group Investment Advisors LLC increased its stake in Johnson & Johnson by 90,144.4% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 54,386,720 shares of the company’s stock valued at $9,607,414,000 after acquiring an additional 54,326,454 shares during the last quarter. Norges Bank bought a new position in Johnson & Johnson in the fourth quarter valued at $4,609,399,000. Morgan Stanley increased its stake in Johnson & Johnson by 12.0% in the fourth quarter. Morgan Stanley now owns 42,224,521 shares of the company’s stock valued at $7,458,962,000 after acquiring an additional 4,521,062 shares during the last quarter. Nordwand Advisors LLC bought a new position in Johnson & Johnson in the fourth quarter valued at $785,273,000. Finally, Price T Rowe Associates Inc. MD increased its stake in Johnson & Johnson by 15.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 29,277,774 shares of the company’s stock valued at $5,171,919,000 after acquiring an additional 3,849,148 shares during the last quarter. Hedge funds and other institutional investors own 67.57% of the company’s stock.

Insider Activity

In other 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 completion of the transaction, the executive vice president now directly owns 65,934 shares in the company, valued at $10,549,440. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Atlantic Securities reduced their target price on Johnson & Johnson from $168.00 to $167.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 19th. Guggenheim assumed coverage on Johnson & Johnson in a research note on Tuesday, February 28th. They set a “neutral” rating and a $161.00 price objective on the stock. Credit Suisse Group raised their price objective on Johnson & Johnson from $168.00 to $170.00 in a research note on Friday, May 5th. Raymond James reduced their price objective on Johnson & Johnson from $185.00 to $181.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 19th. Finally, StockNews.com assumed coverage on Johnson & Johnson in a research note on Thursday, May 18th. They set a “strong-buy” rating on the stock. Seven equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Johnson & Johnson presently has an average rating of “Moderate Buy” and an average target price of $171.57.

Johnson & Johnson Stock Performance

Shares of JNJ opened at $164.13 on Wednesday. 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 has a one year low of $150.11 and a one year high of $183.35. The company has a 50-day simple moving average of $160.72 and a two-hundred day simple moving average of $163.68. The firm has a market capitalization of $426.53 billion, a PE ratio of 34.34, a price-to-earnings-growth ratio of 2.80 and a beta of 0.54.

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

Johnson & Johnson Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 6th. Shareholders of record on Tuesday, May 23rd were issued a $1.19 dividend. The ex-dividend date of this dividend was Monday, May 22nd. This is a positive change from Johnson & Johnson’s previous quarterly dividend of $1.13. This represents a $4.76 annualized dividend and a yield of 2.90%. Johnson & Johnson’s dividend payout ratio (DPR) is 99.58%.

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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