Guinness Asset Management LTD Purchases 86,126 Shares of Johnson & Johnson (NYSE:JNJ)

Posted by on Jun 21st, 2023

Guinness Asset Management LTD raised its stake in shares of Johnson & Johnson (NYSE:JNJ – Get Rating) by 10.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 876,750 shares of the company’s stock after purchasing an additional 86,126 shares during the quarter. Johnson & Johnson accounts for 3.5% of Guinness Asset Management LTD’s portfolio, making the stock its 10th largest holding. Guinness Asset Management LTD’s holdings in Johnson & Johnson were worth $135,868,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. CRA Financial Services LLC boosted its holdings in Johnson & Johnson by 2.2% during the first quarter. CRA Financial Services LLC now owns 12,810 shares of the company’s stock valued at $1,986,000 after purchasing an additional 275 shares in the last quarter. KWB Wealth acquired a new stake in Johnson & Johnson during the first quarter valued at approximately $411,000. Austin Private Wealth LLC boosted its holdings in Johnson & Johnson by 36.9% during the first quarter. Austin Private Wealth LLC now owns 5,497 shares of the company’s stock valued at $852,000 after purchasing an additional 1,482 shares in the last quarter. Thrive Wealth Management LLC boosted its holdings in Johnson & Johnson by 5.4% during the first quarter. Thrive Wealth Management LLC now owns 18,680 shares of the company’s stock valued at $2,895,000 after purchasing an additional 958 shares in the last quarter. Finally, Eclectic Associates Inc. ADV boosted its holdings in Johnson & Johnson by 5.1% during the first quarter. Eclectic Associates Inc. ADV now owns 9,920 shares of the company’s stock valued at $1,537,000 after purchasing an additional 477 shares in the last quarter. 67.57% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Johnson & Johnson

In other news, EVP Kathryn E. Wengel sold 12,465 shares of the business’s stock in a transaction on Monday, June 12th. The shares were sold at an average price of $160.00, for a total value of $1,994,400.00. Following the completion of the transaction, 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 document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

JNJ has been the subject of a number of research analyst reports. Raymond James cut their target price on shares of Johnson & Johnson from $185.00 to $181.00 and set an “outperform” rating for the company in a research note on Wednesday, April 19th. Morgan Stanley lifted their target price on shares of Johnson & Johnson from $179.00 to $183.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 19th. Citigroup initiated coverage on shares of Johnson & Johnson in a research note on Tuesday, May 30th. They issued a “buy” rating and a $185.00 target price for the company. Credit Suisse Group lifted their target price on shares of Johnson & Johnson from $168.00 to $170.00 in a research note on Friday, May 5th. Finally, Guggenheim began coverage on shares of Johnson & Johnson in a research note on Tuesday, February 28th. They issued a “neutral” rating and a $161.00 target price for the company. Seven equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Johnson & Johnson has an average rating of “Moderate Buy” and an average target price of $171.57.

Johnson & Johnson Stock Performance

Shares of Johnson & Johnson stock opened at $164.13 on Wednesday. The firm has a fifty day moving average of $160.72 and a two-hundred day moving average of $163.68. The stock has a market capitalization of $426.53 billion, a price-to-earnings ratio of 34.34, a PEG ratio of 2.80 and a beta of 0.54. Johnson & Johnson has a 52 week low of $150.11 and a 52 week 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, beating the consensus estimate of $2.51 by $0.17. The company had revenue of $24.75 billion during the quarter, compared to analysts’ expectations of $23.61 billion. Johnson & Johnson had a net margin of 13.22% and a return on equity of 36.13%. The business’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.67 EPS. As a group, equities research analysts predict that Johnson & Johnson will post 10.66 EPS for the current year.

Johnson & Johnson Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 6th. Shareholders of record on Tuesday, May 23rd were given a dividend of $1.19 per share. This is a boost 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 2.90%. Johnson & Johnson’s payout ratio is presently 99.58%.

About Johnson & Johnson

(Get Rating)

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.

Featured Articles

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

Receive News & Ratings for Johnson & Johnson Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Johnson & Johnson and related companies with MarketBeat.com's FREE daily email newsletter.