Sabal Trust CO Raises Stake in Johnson & Johnson (NYSE:JNJ)

Posted by Defense World Staff on Jul 23rd, 2023

Sabal Trust CO increased its position in Johnson & Johnson (NYSE:JNJ – Free Report) by 1.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 259,372 shares of the company’s stock after acquiring an additional 3,249 shares during the quarter. Johnson & Johnson comprises approximately 2.8% of Sabal Trust CO’s holdings, making the stock its 6th biggest position. Sabal Trust CO’s holdings in Johnson & Johnson were worth $40,203,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GW&K Investment Management LLC purchased a new stake in Johnson & Johnson in the 4th quarter worth approximately $35,000. Dark Forest Capital Management LP grew its holdings in Johnson & Johnson by 1,044.4% during the 4th quarter. Dark Forest Capital Management LP now owns 206 shares of the company’s stock valued at $36,000 after buying an additional 188 shares in the last quarter. Retirement Financial Solutions LLC purchased a new stake in Johnson & Johnson during the 4th quarter valued at approximately $40,000. Ruedi Wealth Management Inc. purchased a new stake in Johnson & Johnson during the 4th quarter valued at approximately $42,000. Finally, Kepos Capital LP purchased a new stake in Johnson & Johnson during the 4th quarter valued at approximately $45,000. 67.57% of the stock is owned by hedge funds and other institutional investors.

Johnson & Johnson Stock Up 1.1 %

Shares of JNJ opened at $170.19 on Friday. The company has a market cap of $442.28 billion, a PE ratio of 35.60, a P/E/G ratio of 2.72 and a beta of 0.55. The business has a fifty day moving average of $160.37 and a 200 day moving average of $161.39. Johnson & Johnson has a 52-week low of $150.11 and a 52-week high of $181.04. 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 released its earnings results on Thursday, July 20th. The company reported $2.80 earnings per share for the quarter, topping the consensus estimate of $2.62 by $0.18. Johnson & Johnson had a return on equity of 36.13% and a net margin of 13.22%. The business had revenue of $25.53 billion during the quarter, compared to the consensus estimate of $24.63 billion. During the same period last year, the company earned $2.59 earnings per share. The business’s revenue for the quarter was up 6.3% compared to the same quarter last year. On average, sell-side analysts expect that Johnson & Johnson will post 10.65 EPS for the current year.

Johnson & Johnson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 7th. Stockholders of record on Monday, August 28th will be given a dividend of $1.19 per share. The ex-dividend date is Friday, August 25th. This represents a $4.76 annualized dividend and a dividend yield of 2.80%. Johnson & Johnson’s dividend payout ratio (DPR) is 99.58%.

Analysts Set New Price Targets

JNJ has been the subject of a number of research analyst reports. StockNews.com initiated coverage on shares of Johnson & Johnson in a report on Thursday, May 18th. They set a “strong-buy” rating for the company. Citigroup assumed coverage on shares of Johnson & Johnson in a report on Tuesday, May 30th. They set a “buy” rating and a $185.00 price objective for the company. Atlantic Securities cut their target price on shares of Johnson & Johnson from $168.00 to $167.00 and set a “neutral” rating for the company in a report on Wednesday, April 19th. Credit Suisse Group raised their target price on shares of Johnson & Johnson from $170.00 to $175.00 and gave the company a “neutral” rating in a report on Friday. Finally, UBS Group assumed coverage on shares of Johnson & Johnson in a report on Tuesday, March 28th. They issued a “neutral” rating and a $164.00 target price for the company. Eight investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $171.40.

Insider Transactions at Johnson & Johnson

In other news, EVP Kathryn E. Wengel sold 12,465 shares of Johnson & Johnson stock in a transaction on Monday, June 12th. The stock was sold at an average price of $160.00, for a total transaction 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 $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.

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.