Johnson & Johnson (NYSE:JNJ) Shares Sold by Ledyard National Bank

Posted by Defense World Staff on Jul 18th, 2023

Ledyard National Bank reduced its stake in shares of Johnson & Johnson (NYSE:JNJ – Free Report) by 4.7% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 57,839 shares of the company’s stock after selling 2,844 shares during the quarter. Ledyard National Bank’s holdings in Johnson & Johnson were worth $8,965,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in JNJ. DORCHESTER WEALTH MANAGEMENT Co increased its holdings in Johnson & Johnson by 8.6% in the first quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 67,618 shares of the company’s stock valued at $14,975,000 after buying an additional 5,327 shares in the last quarter. Cantor Fitzgerald Investment Advisor L.P increased its holdings in Johnson & Johnson by 88.9% in the first quarter. Cantor Fitzgerald Investment Advisor L.P now owns 175,194 shares of the company’s stock valued at $31,049,000 after buying an additional 82,429 shares in the last quarter. AMI Investment Management Inc. increased its holdings in Johnson & Johnson by 8.8% in the first quarter. AMI Investment Management Inc. now owns 18,305 shares of the company’s stock valued at $3,244,000 after buying an additional 1,475 shares in the last quarter. Equitable Holdings Inc. increased its stake in shares of Johnson & Johnson by 4.9% during the first quarter. Equitable Holdings Inc. now owns 45,673 shares of the company’s stock worth $8,095,000 after purchasing an additional 2,119 shares in the last quarter. Finally, USS Investment Management Ltd increased its stake in shares of Johnson & Johnson by 2.4% during the first quarter. USS Investment Management Ltd now owns 860,371 shares of the company’s stock worth $152,488,000 after purchasing an additional 20,528 shares in the last quarter. 67.57% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Johnson & Johnson news, EVP Kathryn E. Wengel sold 12,465 shares of the stock in a transaction that occurred on Monday, June 12th. The shares were sold at an average price of $160.00, for a total value of $1,994,400.00. Following the sale, the executive vice president now directly owns 65,934 shares of the company’s stock, valued at approximately $10,549,440. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.20% of the stock is owned by insiders.

Johnson & Johnson Price Performance

Shares of JNJ opened at $159.06 on Tuesday. Johnson & Johnson has a fifty-two week low of $150.11 and a fifty-two week high of $181.04. The firm’s 50 day moving average price is $160.13 and its 200 day moving average price is $161.64. The company has a market cap of $413.35 billion, a P/E ratio of 33.28, a PEG ratio of 2.73 and a beta of 0.55. The company has a quick ratio of 0.85, a current ratio of 1.07 and a debt-to-equity ratio of 0.49.

Johnson & Johnson (NYSE:JNJ – Get Free Report) last announced its 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 net margin of 13.22% and a return on equity of 36.13%. 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 firm earned $2.67 EPS. The firm’s revenue for the quarter was up 5.6% on a year-over-year basis. On average, research analysts forecast that Johnson & Johnson will post 10.65 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Morgan Stanley upped their price objective on shares of Johnson & Johnson from $179.00 to $183.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 19th. TheStreet cut shares of Johnson & Johnson from a “b” rating to a “c+” rating in a research note on Friday, May 19th. StockNews.com started coverage on shares of Johnson & Johnson in a report on Thursday, May 18th. They issued a “strong-buy” rating on the stock. UBS Group started coverage on shares of Johnson & Johnson in a report on Tuesday, March 28th. They issued a “neutral” rating and a $164.00 target price on the stock. Finally, Citigroup initiated coverage on shares of Johnson & Johnson in a report on Tuesday, May 30th. They issued a “buy” rating and a $185.00 target price on the stock. Seven research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Johnson & Johnson has a consensus rating of “Moderate Buy” and a consensus price target of $169.77.

Johnson & Johnson Company 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.