Royal Fund Management LLC Buys 2,560 Shares of Johnson & Johnson (NYSE:JNJ)

Posted by Defense World Staff on Jun 22nd, 2023

Royal Fund Management LLC lifted its stake in shares of Johnson & Johnson (NYSE:JNJ – Get Rating) by 9.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,439 shares of the company’s stock after acquiring an additional 2,560 shares during the quarter. Royal Fund Management LLC’s holdings in Johnson & Johnson were worth $4,563,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in JNJ. Glassy Mountain Advisors Inc. bought a new stake in Johnson & Johnson in the fourth quarter worth approximately $35,000. GW&K Investment Management LLC bought a new stake in Johnson & Johnson in the fourth quarter worth approximately $35,000. Dark Forest Capital Management LP increased its holdings in Johnson & Johnson by 1,044.4% in the fourth quarter. Dark Forest Capital Management LP now owns 206 shares of the company’s stock worth $36,000 after purchasing an additional 188 shares in the last quarter. Retirement Financial Solutions LLC bought a new stake in Johnson & Johnson in the fourth quarter worth approximately $40,000. Finally, Ruedi Wealth Management Inc. bought a new stake in Johnson & Johnson in the fourth quarter worth approximately $42,000. 67.57% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on JNJ shares. Raymond James lowered their target price on Johnson & Johnson from $185.00 to $181.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 19th. Credit Suisse Group upped their target price on Johnson & Johnson from $168.00 to $170.00 in a research report on Friday, May 5th. Citigroup started coverage on Johnson & Johnson in a research report on Tuesday, May 30th. They set a “buy” rating and a $185.00 target price on the stock. Guggenheim started coverage on Johnson & Johnson in a research report on Tuesday, February 28th. They set a “neutral” rating and a $161.00 target price on the stock. Finally, StockNews.com began coverage on Johnson & Johnson in a research report on Thursday, May 18th. They set a “strong-buy” rating on the stock. Seven research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $171.57.

Johnson & Johnson Stock Down 0.2 %

Shares of NYSE:JNJ opened at $163.87 on Thursday. The company has a market capitalization of $425.85 billion, a PE ratio of 34.28, a price-to-earnings-growth ratio of 2.80 and a beta of 0.54. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.07 and a quick ratio of 0.85. The business has a fifty day moving average price of $160.72 and a two-hundred day moving average price of $163.68. 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 posted 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 during the quarter, compared to the consensus estimate of $23.61 billion. Johnson & Johnson had a return on equity of 36.13% and a net margin of 13.22%. The firm’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.67 EPS. Analysts forecast 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 paid 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 2.90%. Johnson & Johnson’s dividend payout ratio is presently 99.58%.

Insider Transactions at Johnson & Johnson

In other news, EVP Kathryn E. Wengel sold 12,465 shares of the stock in a transaction on Monday, June 12th. The stock was 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 owns 65,934 shares in the company, valued at approximately $10,549,440. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.20% of the stock is owned by corporate insiders.

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.