GPS Wealth Strategies Group LLC Purchases 929 Shares of Johnson & Johnson (NYSE:JNJ)

Posted by Defense World Staff on Jul 3rd, 2023

GPS Wealth Strategies Group LLC raised its holdings in shares of Johnson & Johnson (NYSE:JNJ – Free Report) by 5.2% during the first quarter, according to its most recent filing with the SEC. The firm owned 18,830 shares of the company’s stock after purchasing an additional 929 shares during the period. GPS Wealth Strategies Group LLC’s holdings in Johnson & Johnson were worth $2,919,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of JNJ. Glassy Mountain Advisors Inc. bought a new position in Johnson & Johnson in the fourth quarter worth about $35,000. GW&K Investment Management LLC bought a new position in shares of Johnson & Johnson during the 4th quarter worth approximately $35,000. Dark Forest Capital Management LP boosted its stake in Johnson & Johnson by 1,044.4% in the fourth 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 in the last quarter. Retirement Financial Solutions LLC purchased a new position in Johnson & Johnson in the fourth quarter worth $40,000. Finally, Ruedi Wealth Management Inc. acquired a new position in shares of Johnson & Johnson during the fourth quarter worth $42,000. Institutional investors own 67.57% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. UBS Group initiated coverage on Johnson & Johnson in a research note on Tuesday, March 28th. They set a “neutral” rating and a $164.00 target price on the stock. Citigroup assumed coverage on shares of Johnson & Johnson in a research report on Tuesday, May 30th. They issued a “buy” rating and a $185.00 price objective for the company. StockNews.com assumed coverage on shares of Johnson & Johnson in a research report on Thursday, May 18th. They set a “strong-buy” rating on the stock. Raymond James lowered their price objective on shares of 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, Morgan Stanley upped their target price on Johnson & Johnson from $179.00 to $183.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 19th. Seven equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Johnson & Johnson has an average rating of “Moderate Buy” and a consensus target price of $171.57.

Insider Transactions at Johnson & Johnson

In related news, EVP Kathryn E. Wengel sold 12,465 shares of the business’s stock in a transaction on Monday, June 12th. The shares were sold at an average price of $160.00, for a total value of $1,994,400.00. Following the completion of the sale, the executive vice president now owns 65,934 shares of the company’s stock, valued at approximately $10,549,440. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.20% of the company’s stock.

Johnson & Johnson Price Performance

NYSE:JNJ opened at $165.52 on Monday. The company has a 50 day moving average price of $160.79 and a 200-day moving average price of $162.92. Johnson & Johnson has a 1-year low of $150.11 and a 1-year high of $181.04. The firm has a market cap of $430.14 billion, a price-to-earnings ratio of 34.63, a price-to-earnings-growth ratio of 2.80 and a beta of 0.54. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.07 and a quick ratio of 0.85.

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

Johnson & Johnson Increases Dividend

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

Johnson & Johnson 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.