Weybosset Research & Management LLC Reduces Position in Johnson & Johnson (NYSE:JNJ)

Posted by Defense World Staff on Jun 30th, 2023

Weybosset Research & Management LLC cut its holdings in shares of Johnson & Johnson (NYSE:JNJ – Free Report) by 0.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 57,691 shares of the company’s stock after selling 295 shares during the quarter. Johnson & Johnson makes up approximately 3.4% of Weybosset Research & Management LLC’s portfolio, making the stock its 16th largest holding. Weybosset Research & Management LLC’s holdings in Johnson & Johnson were worth $8,942,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Scotia Capital Inc. grew its position in Johnson & Johnson by 1.6% during the fourth quarter. Scotia Capital Inc. now owns 1,105,147 shares of the company’s stock valued at $195,247,000 after acquiring an additional 17,440 shares during the last quarter. Duality Advisers LP purchased a new stake in shares of Johnson & Johnson during the fourth quarter valued at approximately $4,342,000. Beacon Harbor Wealth Advisors Inc. purchased a new stake in shares of Johnson & Johnson during the fourth quarter valued at approximately $509,000. Modera Wealth Management LLC boosted its stake in shares of Johnson & Johnson by 18.0% during the fourth quarter. Modera Wealth Management LLC now owns 44,189 shares of the company’s stock valued at $7,806,000 after purchasing an additional 6,738 shares during the period. Finally, Willis Investment Counsel boosted its stake in shares of Johnson & Johnson by 0.4% during the fourth quarter. Willis Investment Counsel now owns 328,884 shares of the company’s stock valued at $58,097,000 after purchasing an additional 1,358 shares during the period. 67.57% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on JNJ. TheStreet lowered Johnson & Johnson from a “b” rating to a “c+” rating in a research note on Friday, May 19th. Atlantic Securities dropped their price target 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 target 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. Credit Suisse Group raised their price target on Johnson & Johnson from $168.00 to $170.00 in a research note on Friday, May 5th. Finally, StockNews.com assumed coverage on Johnson & Johnson in a research report on Thursday, May 18th. They set a “strong-buy” rating for the company. Seven investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Johnson & Johnson has an average rating of “Moderate Buy” and an average price target of $171.57.

Johnson & Johnson Price Performance

NYSE JNJ opened at $164.10 on Friday. Johnson & Johnson has a one year low of $150.11 and a one year high of $181.04. The stock has a 50-day moving average of $160.73 and a 200 day moving average of $163.23. The company has a market capitalization of $426.45 billion, a price-to-earnings ratio of 34.33, a PEG ratio of 2.79 and a beta of 0.54. 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 – Free Report) last released its quarterly earnings data on Tuesday, April 18th. The company reported $2.68 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 company had revenue of $24.75 billion during the quarter, compared to the consensus estimate of $23.61 billion. During the same period last year, the company earned $2.67 EPS. Johnson & Johnson’s revenue for the quarter was up 5.6% on a year-over-year basis. On average, sell-side analysts forecast 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. Shareholders of record on Tuesday, May 23rd were given a $1.19 dividend. This represents a $4.76 annualized dividend and a yield of 2.90%. 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. Johnson & Johnson’s dividend payout ratio (DPR) is presently 99.58%.

Insiders Place Their Bets

In other Johnson & Johnson news, EVP Kathryn E. Wengel sold 12,465 shares of the firm’s stock in a transaction dated 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 $10,549,440. The sale 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.

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.