Johnson & Johnson (NYSE:JNJ) is Wallington Asset Management LLC’s 8th Largest Position

Posted by Defense World Staff on Jun 30th, 2023

Wallington Asset Management LLC raised its stake in shares of Johnson & Johnson (NYSE:JNJ – Free Report) by 0.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 108,839 shares of the company’s stock after acquiring an additional 770 shares during the period. Johnson & Johnson makes up 3.4% of Wallington Asset Management LLC’s investment portfolio, making the stock its 8th biggest holding. Wallington Asset Management LLC’s holdings in Johnson & Johnson were worth $16,870,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Moneta Group Investment Advisors LLC raised its stake in shares of Johnson & Johnson by 90,144.4% during 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 buying an additional 54,326,454 shares in the last quarter. Norges Bank purchased a new position in shares of Johnson & Johnson during the 4th quarter worth approximately $4,609,399,000. Morgan Stanley raised its stake in shares of Johnson & Johnson by 12.0% during the 4th quarter. Morgan Stanley now owns 42,224,521 shares of the company’s stock worth $7,458,962,000 after buying an additional 4,521,062 shares in the last quarter. Nordwand Advisors LLC purchased a new position in shares of Johnson & Johnson during the 4th quarter worth approximately $785,273,000. Finally, Price T Rowe Associates Inc. MD increased its stake in Johnson & Johnson by 15.1% in the 4th 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 purchasing an additional 3,849,148 shares in the last quarter. 67.57% of the stock is owned by hedge funds and other institutional investors.

Johnson & Johnson Price Performance

JNJ stock opened at $164.10 on Friday. Johnson & Johnson has a 52-week low of $150.11 and a 52-week high of $181.04. The stock’s fifty day simple moving average is $160.73 and its 200-day simple moving average is $163.23. 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 has a market capitalization of $426.45 billion, a price-to-earnings ratio of 34.33, a price-to-earnings-growth ratio of 2.79 and a beta of 0.54.

Johnson & Johnson (NYSE:JNJ – Free Report) last posted its quarterly earnings data on Tuesday, April 18th. The company reported $2.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.51 by $0.17. Johnson & Johnson had a return on equity of 36.13% and a net margin of 13.22%. The business had revenue of $24.75 billion for the quarter, compared to analysts’ expectations of $23.61 billion. During the same quarter last year, the firm earned $2.67 earnings per share. The business’s revenue was up 5.6% on a year-over-year basis. Equities research analysts expect that Johnson & Johnson will post 10.66 EPS for the current year.

Johnson & Johnson Increases Dividend

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

Analyst Ratings Changes

Several research firms recently weighed in on JNJ. UBS Group began coverage on Johnson & Johnson in a research note on Tuesday, March 28th. They issued a “neutral” rating and a $164.00 price objective for the company. Citigroup began coverage on Johnson & Johnson in a research note on Tuesday, May 30th. They issued a “buy” rating and a $185.00 price objective for the company. Atlantic Securities dropped their price objective on Johnson & Johnson from $168.00 to $167.00 and set a “neutral” rating for the company in a research note on Wednesday, April 19th. Raymond James dropped their price objective on Johnson & Johnson from $185.00 to $181.00 and set an “outperform” rating for the company in a research note on Wednesday, April 19th. Finally, StockNews.com began coverage on Johnson & Johnson in a 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, five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $171.57.

Insider Buying and Selling

In related 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 value of $1,994,400.00. Following the transaction, the executive vice president now directly owns 65,934 shares of the company’s stock, valued at approximately $10,549,440. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.20% of the company’s stock.

Johnson & Johnson Company Profile

(Free Report)

Johnson & Johnson, together with its subsidiaries, researches, develops, manufactures, and sells various products in the healthcare field worldwide. The company's Consumer Health segment provides skin health/beauty products under the AVEENO, CLEAN & CLEAR, DR. CI:LABO, NEUTROGENA, and OGX brands; baby care products under the JOHNSON'S and AVEENO Baby brands; oral care products under the LISTERINE brand; TYLENOL acetaminophen products; SUDAFED cold, flu, and allergy products; BENADRYL and ZYRTEC allergy products; MOTRIN IB ibuprofen products; NICORETTE smoking cessation products; and PEPCID acid reflux products.