Sitrin Capital Management LLC Sells 276 Shares of Johnson & Johnson (NYSE:JNJ)

Posted by on Jul 18th, 2023

Sitrin Capital Management LLC decreased its position in shares of Johnson & Johnson (NYSE:JNJ – Free Report) by 0.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 37,964 shares of the company’s stock after selling 276 shares during the period. Johnson & Johnson comprises 3.6% of Sitrin Capital Management LLC’s holdings, making the stock its 10th largest holding. Sitrin Capital Management LLC’s holdings in Johnson & Johnson were worth $5,884,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Joel Isaacson & Co. LLC lifted its stake in Johnson & Johnson by 0.5% in the 1st quarter. Joel Isaacson & Co. LLC now owns 69,265 shares of the company’s stock valued at $10,736,000 after purchasing an additional 373 shares during the last quarter. Machina Capital S.A.S. lifted its stake in Johnson & Johnson by 8.6% in the 1st quarter. Machina Capital S.A.S. now owns 2,704 shares of the company’s stock valued at $419,000 after purchasing an additional 213 shares during the last quarter. McKinley Carter Wealth Services Inc. lifted its stake in Johnson & Johnson by 4.2% in the 1st quarter. McKinley Carter Wealth Services Inc. now owns 18,692 shares of the company’s stock valued at $2,897,000 after purchasing an additional 745 shares during the last quarter. K.J. Harrison & Partners Inc lifted its stake in Johnson & Johnson by 95.3% in the 1st quarter. K.J. Harrison & Partners Inc now owns 46,818 shares of the company’s stock valued at $7,237,000 after purchasing an additional 22,845 shares during the last quarter. Finally, Private Wealth Advisors LLC lifted its stake in Johnson & Johnson by 1,175.9% in the 1st quarter. Private Wealth Advisors LLC now owns 15,591 shares of the company’s stock valued at $2,417,000 after purchasing an additional 14,369 shares during the last quarter. Institutional investors own 67.57% of the company’s stock.

Insider Activity

In related news, EVP Kathryn E. Wengel sold 12,465 shares of the business’s stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $160.00, for a total transaction of $1,994,400.00. Following the transaction, the executive vice president now directly owns 65,934 shares in the company, valued at $10,549,440. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on JNJ. Raymond James dropped 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. UBS Group began coverage on shares of Johnson & Johnson in a research note on Tuesday, March 28th. They set a “neutral” rating and a $164.00 price target for the company. Citigroup began coverage on shares of Johnson & Johnson in a research note on Tuesday, May 30th. They set a “buy” rating and a $185.00 price target for the company. Credit Suisse Group raised their price target on shares of Johnson & Johnson from $168.00 to $170.00 in a research note on Friday, May 5th. Finally, Atlantic Securities dropped their price target on shares of Johnson & Johnson from $168.00 to $167.00 and set a “neutral” rating for the company in a research note on Wednesday, April 19th. Seven equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $169.77.

Johnson & Johnson Stock Down 0.5 %

Shares of NYSE JNJ opened at $159.06 on Tuesday. The stock has a market capitalization of $413.35 billion, a P/E ratio of 33.28, a P/E/G ratio of 2.73 and a beta of 0.55. The company has a 50-day moving average price of $160.13 and a 200-day moving average price of $161.64. Johnson & Johnson has a 1 year low of $150.11 and a 1 year high of $181.04. 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 – Get Free Report) last issued its quarterly earnings data on Tuesday, April 18th. The company reported $2.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.51 by $0.17. The firm had revenue of $24.75 billion during 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 business’s 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. On average, equities research analysts forecast that Johnson & Johnson will post 10.65 EPS for the current fiscal year.

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.

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Institutional Ownership by Quarter for Johnson & Johnson (NYSE:JNJ)

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