Johnson & Johnson (NYSE:JNJ) Holdings Raised by MBL Wealth LLC

Posted by Defense World Staff on Jun 25th, 2023

MBL Wealth LLC grew its stake in shares of Johnson & Johnson (NYSE:JNJ – Get Rating) by 4.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,521 shares of the company’s stock after purchasing an additional 390 shares during the period. MBL Wealth LLC’s holdings in Johnson & Johnson were worth $1,321,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Glassy Mountain Advisors Inc. purchased a new stake in Johnson & Johnson in the 4th quarter worth about $35,000. GW&K Investment Management LLC acquired a new position in Johnson & Johnson in the 4th quarter worth about $35,000. Dark Forest Capital Management LP increased its position in Johnson & Johnson by 1,044.4% in the 4th quarter. Dark Forest Capital Management LP now owns 206 shares of the company’s stock worth $36,000 after purchasing an additional 188 shares during the last quarter. Retirement Financial Solutions LLC acquired a new position in Johnson & Johnson in the 4th quarter worth about $40,000. Finally, Ruedi Wealth Management Inc. acquired a new position in Johnson & Johnson in the 4th quarter worth about $42,000. 67.57% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Johnson & Johnson

In related news, EVP Kathryn E. Wengel sold 12,465 shares of the firm’s 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 sale, the executive vice president now directly owns 65,934 shares of the company’s stock, valued at approximately $10,549,440. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on JNJ shares. Credit Suisse Group upped their target price on Johnson & Johnson from $168.00 to $170.00 in a research report on Friday, May 5th. Atlantic Securities lowered their price objective on Johnson & Johnson from $168.00 to $167.00 and set a “neutral” rating on the stock in a report on Wednesday, April 19th. UBS Group started coverage on Johnson & Johnson in a report on Tuesday, March 28th. They set a “neutral” rating and a $164.00 price objective on the stock. Citigroup started coverage on Johnson & Johnson in a report on Tuesday, May 30th. They set a “buy” rating and a $185.00 price objective on the stock. Finally, TheStreet lowered Johnson & Johnson from a “b” rating to a “c+” rating in a report on Friday, May 19th. Seven analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Johnson & Johnson has an average rating of “Moderate Buy” and an average price target of $171.57.

Johnson & Johnson Price Performance

Shares of JNJ stock opened at $165.48 on Friday. The stock has a 50 day moving average of $160.71 and a two-hundred day moving average of $163.51. The company has a current ratio of 1.07, a quick ratio of 0.85 and a debt-to-equity ratio of 0.49. Johnson & Johnson has a 12 month low of $150.11 and a 12 month high of $183.35. The company has a market capitalization of $430.04 billion, a P/E ratio of 34.62, a P/E/G ratio of 2.80 and a beta of 0.54.

Johnson & Johnson (NYSE:JNJ – Get Rating) last announced its quarterly earnings data on Tuesday, April 18th. The company reported $2.68 EPS for the quarter, topping analysts’ consensus estimates 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 company’s quarterly revenue was up 5.6% on a year-over-year basis. During the same quarter last year, the company earned $2.67 EPS. As a group, equities analysts expect that Johnson & Johnson will post 10.66 EPS for the current year.

Johnson & Johnson Increases Dividend

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