BerganKDV Wealth Management LLC Grows Stake in Johnson & Johnson (NYSE:JNJ)

Posted by Defense World Staff on Jul 24th, 2023

BerganKDV Wealth Management LLC grew its position in Johnson & Johnson (NYSE:JNJ – Free Report) by 2.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 45,845 shares of the company’s stock after purchasing an additional 933 shares during the quarter. Johnson & Johnson comprises approximately 0.7% of BerganKDV Wealth Management LLC’s investment portfolio, making the stock its 27th biggest holding. BerganKDV Wealth Management LLC’s holdings in Johnson & Johnson were worth $7,106,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. GW&K Investment Management LLC purchased a new stake in shares of Johnson & Johnson during the fourth quarter valued at $35,000. Dark Forest Capital Management LP grew its holdings in shares of Johnson & Johnson by 1,044.4% during the fourth 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 during the last quarter. Retirement Financial Solutions LLC purchased a new stake in shares of Johnson & Johnson during the fourth quarter valued at $40,000. Ruedi Wealth Management Inc. purchased a new stake in shares of Johnson & Johnson during the fourth quarter valued at $42,000. Finally, Kepos Capital LP purchased a new stake in shares of Johnson & Johnson during the fourth quarter valued at $45,000. 67.57% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on JNJ shares. Citigroup started coverage on shares of Johnson & Johnson in a report on Tuesday, May 30th. They set a “buy” rating and a $185.00 price objective on the stock. Morgan Stanley restated an “equal weight” rating and set a $187.00 target price on shares of Johnson & Johnson in a research report on Friday. TheStreet downgraded shares of Johnson & Johnson from a “b” rating to a “c+” rating in a research report on Friday, May 19th. Credit Suisse Group boosted their target price on shares of Johnson & Johnson from $170.00 to $175.00 and gave the company a “neutral” rating in a research report on Friday. Finally, JPMorgan Chase & Co. boosted their target price on shares of Johnson & Johnson from $175.00 to $180.00 and gave the company a “neutral” rating in a research report on Friday. Eight investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $171.40.

Johnson & Johnson Trading Up 1.1 %

JNJ stock opened at $170.19 on Monday. The company’s 50-day simple moving average is $160.37 and its 200-day simple moving average is $161.25. 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 has a 52-week low of $150.11 and a 52-week high of $181.04. The firm has a market cap of $442.28 billion, a P/E ratio of 34.45, a PEG ratio of 2.88 and a beta of 0.55.

Johnson & Johnson (NYSE:JNJ – Get Free Report) last posted its earnings results on Thursday, July 20th. The company reported $2.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.62 by $0.18. The business had revenue of $25.53 billion for the quarter, compared to analyst estimates of $24.63 billion. Johnson & Johnson had a net margin of 13.35% and a return on equity of 37.01%. The company’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same period in the prior year, the company posted $2.59 EPS. As a group, equities analysts forecast that Johnson & Johnson will post 10.75 EPS for the current fiscal year.

Johnson & Johnson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 7th. Investors of record on Monday, August 28th will be paid a $1.19 dividend. This represents a $4.76 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date of this dividend is Friday, August 25th. Johnson & Johnson’s dividend payout ratio is presently 96.36%.

Insider Activity at Johnson & Johnson

In related news, EVP Kathryn E. Wengel sold 12,465 shares of the firm’s stock in a transaction dated 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 transaction, 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 filing with the Securities & Exchange Commission, which is available at this link. 0.20% of the stock is currently owned by corporate insiders.

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.