McGuire Investment Group LLC Has $8.72 Million Holdings in Johnson & Johnson (NYSE:JNJ)

Posted by Defense World Staff on Jul 9th, 2023

McGuire Investment Group LLC lowered its stake in Johnson & Johnson (NYSE:JNJ – Free Report) by 3.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 56,273 shares of the company’s stock after selling 2,287 shares during the period. Johnson & Johnson makes up approximately 1.7% of McGuire Investment Group LLC’s holdings, making the stock its 21st biggest position. McGuire Investment Group LLC’s holdings in Johnson & Johnson were worth $8,722,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Scotia Capital Inc. lifted its position 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 purchasing an additional 17,440 shares during the last quarter. Duality Advisers LP acquired a new position in Johnson & Johnson in the 4th quarter valued at approximately $4,342,000. Beacon Harbor Wealth Advisors Inc. acquired a new position in Johnson & Johnson in the 4th quarter valued at approximately $509,000. Modera Wealth Management LLC raised its holdings in Johnson & Johnson by 18.0% in the 4th quarter. Modera Wealth Management LLC now owns 44,189 shares of the company’s stock valued at $7,806,000 after acquiring an additional 6,738 shares in the last quarter. Finally, Bell & Brown Wealth Advisors LLC raised its holdings in Johnson & Johnson by 2.4% in the 1st quarter. Bell & Brown Wealth Advisors LLC now owns 2,926 shares of the company’s stock valued at $453,000 after acquiring an additional 69 shares in the last quarter. Institutional investors and hedge funds own 67.57% of the company’s stock.

Johnson & Johnson Stock Down 1.5 %

NYSE JNJ opened at $159.25 on Friday. The firm has a market cap of $413.85 billion, a PE ratio of 33.32, a price-to-earnings-growth ratio of 2.76 and a beta of 0.55. Johnson & Johnson has a one year low of $150.11 and a one year high of $181.04. The stock’s 50 day simple moving average is $160.63 and its 200 day simple moving average is $162.52. 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 announced its quarterly earnings data on Tuesday, April 18th. The company reported $2.68 EPS for the quarter, beating analysts’ consensus estimates 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 return on equity of 36.13% and a net margin of 13.22%. The business’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same period last year, the company earned $2.67 EPS. As a group, sell-side analysts forecast that Johnson & Johnson will post 10.66 earnings per share for the current fiscal year.

Johnson & Johnson Increases Dividend

The company 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 dividend on an annualized basis and a yield of 2.99%. 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 (DPR) is presently 99.58%.

Wall Street Analysts Forecast Growth

Several research firms have commented on JNJ. Atlantic Securities cut their price target on Johnson & Johnson from $168.00 to $167.00 and set a “neutral” rating for the company in a report on Wednesday, April 19th. Morgan Stanley upped their price target on Johnson & Johnson from $179.00 to $183.00 and gave the company an “equal weight” rating in a report on Wednesday, April 19th. Raymond James lowered their price objective on Johnson & Johnson from $185.00 to $181.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 19th. UBS Group started coverage on Johnson & Johnson in a research note on Tuesday, March 28th. They issued a “neutral” rating and a $164.00 price objective on the stock. Finally, TheStreet lowered 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 assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $171.57.

Insider Buying and Selling at Johnson & Johnson

In other 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 transaction, the executive vice president now owns 65,934 shares of the company’s stock, valued at approximately $10,549,440. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.20% of the company’s stock.

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.