SFG Wealth Management LLC. Acquires New Holdings in Johnson & Johnson (NYSE:JNJ)

Posted by Defense World Staff on Jun 24th, 2023

SFG Wealth Management LLC. bought a new position in Johnson & Johnson (NYSE:JNJ – Get Rating) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 3,056 shares of the company’s stock, valued at approximately $474,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in Johnson & Johnson by 1.2% in the third quarter. Vanguard Group Inc. now owns 245,340,875 shares of the company’s stock valued at $40,078,885,000 after buying an additional 2,815,655 shares in the last quarter. State Street Corp lifted its position in Johnson & Johnson by 0.6% in the 3rd quarter. State Street Corp now owns 141,886,311 shares of the company’s stock valued at $23,178,548,000 after acquiring an additional 803,013 shares in the last quarter. Moneta Group Investment Advisors LLC boosted its stake in Johnson & Johnson by 90,144.4% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 54,386,720 shares of the company’s stock worth $9,607,414,000 after purchasing an additional 54,326,454 shares during the period. Geode Capital Management LLC raised its stake in shares of Johnson & Johnson by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 47,958,583 shares of the company’s stock valued at $8,456,643,000 after purchasing an additional 294,671 shares during the period. Finally, Morgan Stanley lifted its holdings in shares of 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 purchasing an additional 4,521,062 shares in the last quarter. 67.57% of the stock is owned by institutional investors.

Insider Activity

In other 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 transaction, the executive vice president now owns 65,934 shares of the company’s stock, 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. 0.20% of the stock is owned by company insiders.

Johnson & Johnson Price Performance

NYSE:JNJ opened at $165.50 on Friday. The company has a quick ratio of 0.85, a current ratio of 1.07 and a debt-to-equity ratio of 0.49. The stock’s 50 day moving average price is $160.71 and its two-hundred day moving average price is $163.60. The firm has a market capitalization of $430.09 billion, a price-to-earnings ratio of 34.62, a P/E/G ratio of 2.80 and a beta of 0.54. Johnson & Johnson has a 12-month low of $150.11 and a 12-month high of $183.35.

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

Johnson & Johnson Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 6th. Stockholders of record on Tuesday, May 23rd were given a $1.19 dividend. This is an increase from Johnson & Johnson’s previous quarterly dividend of $1.13. The ex-dividend date was Monday, May 22nd. This represents a $4.76 annualized dividend and a dividend yield of 2.88%. Johnson & Johnson’s dividend payout ratio is presently 99.58%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on JNJ shares. Raymond James dropped 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. TheStreet lowered shares of Johnson & Johnson from a “b” rating to a “c+” rating in a research report on Friday, May 19th. Morgan Stanley raised 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 report on Wednesday, April 19th. Atlantic Securities cut their price target on shares of Johnson & Johnson from $168.00 to $167.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 19th. Finally, StockNews.com began coverage on Johnson & Johnson in a report on Thursday, May 18th. They issued a “strong-buy” rating for the company. Seven investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $171.57.

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.