ETF Managers Group LLC Makes New Investment in Johnson & Johnson (NYSE:JNJ)

Posted by Defense World Staff on Jul 3rd, 2023

ETF Managers Group LLC bought a new stake in shares of Johnson & Johnson (NYSE:JNJ – Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 905 shares of the company’s stock, valued at approximately $140,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in JNJ. Glassy Mountain Advisors Inc. purchased a new position in shares of Johnson & Johnson during the 4th quarter worth approximately $35,000. GW&K Investment Management LLC bought a new position in shares of Johnson & Johnson in the 4th quarter worth about $35,000. Dark Forest Capital Management LP lifted its position in Johnson & Johnson by 1,044.4% during the 4th quarter. Dark Forest Capital Management LP now owns 206 shares of the company’s stock valued at $36,000 after acquiring an additional 188 shares during the period. Retirement Financial Solutions LLC bought a new position in shares of Johnson & Johnson during the fourth quarter valued at approximately $40,000. Finally, Ruedi Wealth Management Inc. purchased a new stake in shares of Johnson & Johnson in the 4th quarter worth approximately $42,000. Hedge funds and other institutional investors own 67.57% of the company’s stock.

Insider Activity at Johnson & Johnson

In other news, EVP Kathryn E. Wengel sold 12,465 shares of Johnson & Johnson 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 completion of the transaction, the executive vice president now owns 65,934 shares in the company, valued at approximately $10,549,440. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.20% of the stock is currently owned by corporate insiders.

Johnson & Johnson Stock Performance

NYSE JNJ opened at $165.52 on Monday. The business’s 50-day moving average price is $160.79 and its 200 day moving average price is $162.92. 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 twelve month low of $150.11 and a twelve month high of $181.04. The company has a market capitalization of $430.14 billion, a PE ratio of 34.63, a price-to-earnings-growth ratio of 2.80 and a beta of 0.54.

Johnson & Johnson (NYSE:JNJ – Free Report) last posted its quarterly earnings results on Tuesday, April 18th. The company reported $2.68 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 net margin of 13.22% and a return on equity of 36.13%. Johnson & Johnson’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same quarter last year, the firm posted $2.67 earnings per share. On average, research analysts predict that Johnson & Johnson will post 10.66 earnings per share for the current year.

Johnson & Johnson Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 6th. Investors of record on Tuesday, May 23rd were paid a $1.19 dividend. This represents a $4.76 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date of this dividend was Monday, May 22nd. This is a positive change from Johnson & Johnson’s previous quarterly dividend of $1.13. Johnson & Johnson’s payout ratio is 99.58%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. TheStreet cut shares of Johnson & Johnson from a “b” rating to a “c+” rating in a research note on Friday, May 19th. StockNews.com began coverage on shares of Johnson & Johnson in a report on Thursday, May 18th. They issued a “strong-buy” rating for the company. Citigroup started coverage on shares of Johnson & Johnson in a report on Tuesday, May 30th. They set a “buy” rating and a $185.00 price objective for the company. Morgan Stanley boosted their price target on Johnson & Johnson from $179.00 to $183.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 19th. Finally, UBS Group assumed coverage on Johnson & Johnson in a report on Tuesday, March 28th. They issued a “neutral” rating and a $164.00 target price on the stock. Seven equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $171.57.

About Johnson & Johnson

(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.