Jacobs & Co. CA Raises Holdings in Johnson & Johnson (NYSE:JNJ)

Posted by Defense World Staff on Jul 3rd, 2023

Jacobs & Co. CA lifted its holdings in shares of Johnson & Johnson (NYSE:JNJ – Free Report) by 3.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 61,689 shares of the company’s stock after buying an additional 1,775 shares during the period. Jacobs & Co. CA’s holdings in Johnson & Johnson were worth $9,561,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of JNJ. Glassy Mountain Advisors Inc. purchased a new position in shares of Johnson & Johnson during the 4th quarter worth $35,000. GW&K Investment Management LLC bought a new position in Johnson & Johnson in the 4th quarter worth $35,000. Dark Forest Capital Management LP grew its holdings in Johnson & Johnson by 1,044.4% during the fourth quarter. Dark Forest Capital Management LP now owns 206 shares of the company’s stock valued at $36,000 after purchasing an additional 188 shares during the period. Retirement Financial Solutions LLC bought a new stake in Johnson & Johnson during the 4th quarter valued at approximately $40,000. Finally, Ruedi Wealth Management Inc. purchased a new position in Johnson & Johnson in the 4th quarter worth approximately $42,000. 67.57% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Kathryn E. Wengel sold 12,465 shares of the business’s 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 sale, the executive vice president now owns 65,934 shares in the company, valued at $10,549,440. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on JNJ shares. Morgan Stanley boosted their target price on shares of Johnson & Johnson from $179.00 to $183.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 19th. Credit Suisse Group increased their price objective on shares of Johnson & Johnson from $168.00 to $170.00 in a report on Friday, May 5th. Raymond James reduced their target price on Johnson & Johnson from $185.00 to $181.00 and set an “outperform” rating on the stock in a report on Wednesday, April 19th. StockNews.com assumed coverage on Johnson & Johnson in a report on Thursday, May 18th. They set a “strong-buy” rating for the company. Finally, TheStreet downgraded Johnson & Johnson from a “b” rating to a “c+” rating in a research report on Friday, May 19th. 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 stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $171.57.

Johnson & Johnson Stock Performance

Shares of NYSE:JNJ opened at $165.52 on Monday. 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 $181.04. The company has a market capitalization of $430.14 billion, a price-to-earnings ratio of 34.63, a PEG ratio of 2.80 and a beta of 0.54. The firm’s 50-day moving average is $160.79 and its 200 day moving average is $162.92.

Johnson & Johnson (NYSE:JNJ – Free Report) last issued its quarterly earnings results on Tuesday, April 18th. The company reported $2.68 earnings per share 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 firm had revenue of $24.75 billion for the quarter, compared to the consensus estimate of $23.61 billion. During the same period in the prior year, the business posted $2.67 earnings per share. The company’s revenue for the quarter was up 5.6% on a year-over-year basis. Research analysts predict that Johnson & Johnson will post 10.66 EPS for the current year.

Johnson & Johnson Increases Dividend

The business also recently disclosed 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 2.88%. 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 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.