Close Asset Management Ltd Grows Stock Position in Johnson & Johnson (NYSE:JNJ)

Posted by Defense World Staff on Jul 7th, 2023

Close Asset Management Ltd boosted its holdings in shares of Johnson & Johnson (NYSE:JNJ – Free Report) by 6.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 77,353 shares of the company’s stock after purchasing an additional 4,794 shares during the period. Close Asset Management Ltd’s holdings in Johnson & Johnson were worth $11,985,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of JNJ. Scotia Capital Inc. grew its holdings in shares of Johnson & Johnson by 1.6% during the 4th quarter. Scotia Capital Inc. now owns 1,105,147 shares of the company’s stock worth $195,247,000 after acquiring an additional 17,440 shares during the period. Duality Advisers LP purchased a new position in shares of Johnson & Johnson during the 4th quarter worth approximately $4,342,000. Beacon Harbor Wealth Advisors Inc. purchased a new position in shares of Johnson & Johnson during the 4th quarter worth approximately $509,000. Modera Wealth Management LLC grew its holdings in shares of Johnson & Johnson by 18.0% during the 4th quarter. Modera Wealth Management LLC now owns 44,189 shares of the company’s stock worth $7,806,000 after acquiring an additional 6,738 shares during the period. Finally, Bell & Brown Wealth Advisors LLC grew its holdings in shares of Johnson & Johnson by 2.4% during the 1st quarter. Bell & Brown Wealth Advisors LLC now owns 2,926 shares of the company’s stock worth $453,000 after acquiring an additional 69 shares during the period. Hedge funds and other institutional investors own 67.57% of the company’s stock.

Insider Transactions at Johnson & Johnson

In other news, EVP Kathryn E. Wengel sold 12,465 shares of the company’s 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.20% of the stock is currently owned by company insiders.

Johnson & Johnson Price Performance

Shares of JNJ opened at $161.60 on Friday. The firm has a market cap of $419.95 billion, a PE ratio of 33.81, a P/E/G ratio of 2.79 and a beta of 0.55. The company has a current ratio of 1.07, a quick ratio of 0.85 and a debt-to-equity ratio of 0.49. The firm has a fifty day simple moving average of $160.72 and a two-hundred day simple moving average of $162.73. Johnson & Johnson has a 1-year low of $150.11 and a 1-year high of $181.04.

Johnson & Johnson (NYSE:JNJ – Free Report) last announced its earnings results on Tuesday, April 18th. The company reported $2.68 earnings per share for the quarter, beating analysts’ consensus estimates of $2.51 by $0.17. The business had revenue of $24.75 billion during 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%. The company’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same period in the previous year, the business earned $2.67 EPS. On average, equities analysts anticipate 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. Stockholders of record on Tuesday, May 23rd were paid a $1.19 dividend. This represents a $4.76 annualized dividend and a dividend yield of 2.95%. This is a positive change 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 is 99.58%.

Analyst Upgrades and Downgrades

JNJ has been the topic of a number of analyst reports. TheStreet cut Johnson & Johnson from a “b” rating to a “c+” rating in a research report on Friday, May 19th. Morgan Stanley boosted their price target on Johnson & Johnson from $179.00 to $183.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 19th. Credit Suisse Group boosted their price target on Johnson & Johnson from $168.00 to $170.00 in a research report on Friday, May 5th. Citigroup assumed coverage on Johnson & Johnson in a research report on Tuesday, May 30th. They issued a “buy” rating and a $185.00 price objective on the stock. Finally, StockNews.com assumed coverage on Johnson & Johnson in a research report on Thursday, May 18th. They issued a “strong-buy” rating on the stock. Seven research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target 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.