TAP Consulting LLC Decreases Stake in Johnson & Johnson (NYSE:JNJ)

Posted by Defense World Staff on Jul 5th, 2023

TAP Consulting LLC decreased its holdings in Johnson & Johnson (NYSE:JNJ – Free Report) by 7.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 7,116 shares of the company’s stock after selling 553 shares during the period. TAP Consulting LLC’s holdings in Johnson & Johnson were worth $1,103,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. First National Bank Sioux Falls grew its holdings in Johnson & Johnson by 2.2% in the 1st quarter. First National Bank Sioux Falls now owns 5,222 shares of the company’s stock valued at $809,000 after buying an additional 111 shares in the last quarter. Retirement Guys Formula LLC boosted its position in shares of Johnson & Johnson by 5.1% during the 1st quarter. Retirement Guys Formula LLC now owns 3,653 shares of the company’s stock valued at $566,000 after acquiring an additional 178 shares during the last quarter. Relyea Zuckerberg Hanson LLC grew its holdings in shares of Johnson & Johnson by 7.9% in the first quarter. Relyea Zuckerberg Hanson LLC now owns 15,119 shares of the company’s stock valued at $2,343,000 after purchasing an additional 1,104 shares during the period. HM Payson & Co. increased its position in Johnson & Johnson by 1.0% during the first quarter. HM Payson & Co. now owns 818,627 shares of the company’s stock worth $126,887,000 after purchasing an additional 8,264 shares during the last quarter. Finally, Vantage Investment Partners LLC boosted its holdings in Johnson & Johnson by 11.2% in the 1st quarter. Vantage Investment Partners LLC now owns 65,852 shares of the company’s stock valued at $10,207,000 after purchasing an additional 6,653 shares during the last quarter. 67.57% of the stock is owned by hedge funds and other institutional investors.

Johnson & Johnson Trading Down 1.3 %

Shares of JNJ opened at $163.35 on Wednesday. Johnson & Johnson has a fifty-two week low of $150.11 and a fifty-two week high of $181.04. The company has a market capitalization of $424.50 billion, a PE ratio of 34.17, a price-to-earnings-growth ratio of 2.83 and a beta of 0.55. The stock has a fifty day moving average of $160.74 and a two-hundred day moving average of $162.73. 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 earnings results 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. The business had revenue of $24.75 billion for the quarter, compared to analysts’ expectations of $23.61 billion. Johnson & Johnson had a net margin of 13.22% and a return on equity of 36.13%. The company’s quarterly revenue was up 5.6% on a year-over-year basis. During the same period last year, the company earned $2.67 earnings per share. As a group, 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. Shareholders of record on Tuesday, May 23rd were paid a dividend of $1.19 per share. This is an increase from Johnson & Johnson’s previous quarterly dividend of $1.13. This represents a $4.76 annualized dividend and a yield of 2.91%. The ex-dividend date was Monday, May 22nd. Johnson & Johnson’s payout ratio is currently 99.58%.

Insider Transactions at Johnson & Johnson

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 completion of the sale, the executive vice president now directly 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 can be accessed through the SEC website. Company insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

JNJ has been the topic of a number of recent analyst reports. Morgan Stanley upped their price objective on Johnson & Johnson from $179.00 to $183.00 and gave the company an “equal weight” rating in a report on Wednesday, April 19th. UBS Group initiated coverage on Johnson & Johnson in a report on Tuesday, March 28th. They set a “neutral” rating and a $164.00 price target for the company. Credit Suisse Group boosted their price objective on shares of Johnson & Johnson from $168.00 to $170.00 in a report on Friday, May 5th. StockNews.com assumed coverage on shares of Johnson & Johnson in a research note on Thursday, May 18th. They set a “strong-buy” rating for the company. Finally, TheStreet downgraded shares of Johnson & Johnson from a “b” rating to a “c+” rating in a research note 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 issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $171.57.

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.