Goelzer Investment Management Inc. Purchases 5,570 Shares of Johnson & Johnson (NYSE:JNJ)

Posted by on Jul 25th, 2023

Goelzer Investment Management Inc. grew its position in Johnson & Johnson (NYSE:JNJ – Free Report) by 10.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 58,923 shares of the company’s stock after acquiring an additional 5,570 shares during the quarter. Goelzer Investment Management Inc.’s holdings in Johnson & Johnson were worth $9,133,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. 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 buying an additional 17,440 shares during the period. Duality Advisers LP bought a new position in shares of Johnson & Johnson during the 4th quarter worth approximately $4,342,000. Beacon Harbor Wealth Advisors Inc. bought a new position in shares of Johnson & Johnson during the 4th quarter worth approximately $509,000. Modera Wealth Management LLC raised its position 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 purchasing an additional 6,738 shares during the last quarter. Finally, Tiedemann Advisors LLC boosted its stake in Johnson & Johnson by 20.3% in the first quarter. Tiedemann Advisors LLC now owns 9,017 shares of the company’s stock worth $1,398,000 after purchasing an additional 1,519 shares in the last quarter. Institutional investors own 67.57% of the company’s stock.

Insiders Place Their Bets

In other Johnson & Johnson news, EVP Kathryn E. Wengel sold 12,465 shares of the stock in a transaction dated 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 completion of the sale, the executive vice president now directly owns 65,934 shares in the company, valued at $10,549,440. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Raymond James boosted their price objective on Johnson & Johnson from $181.00 to $184.00 and gave the stock an “outperform” rating in a research note on Monday. Morgan Stanley reissued an “equal weight” rating and issued a $187.00 price objective on shares of Johnson & Johnson in a research note on Friday. JPMorgan Chase & Co. boosted their price objective on Johnson & Johnson from $175.00 to $180.00 and gave the stock a “neutral” rating in a research note on Friday. UBS Group started coverage on Johnson & Johnson in a research note on Tuesday, March 28th. They set a “neutral” rating and a $164.00 price target on the stock. Finally, Atlantic Securities cut their price target on Johnson & Johnson from $168.00 to $167.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 19th. Eight investment 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, Johnson & Johnson has a consensus rating of “Hold” and an average target price of $171.60.

Johnson & Johnson Trading Up 0.5 %

NYSE JNJ opened at $171.10 on Tuesday. The stock has a 50-day simple moving average of $160.60 and a 200 day simple moving average of $161.20. The company has a market capitalization of $444.64 billion, a PE ratio of 34.64, a P/E/G ratio of 2.88 and a beta of 0.55. The company has a current ratio of 1.07, a quick ratio of 0.85 and a debt-to-equity ratio of 0.49. Johnson & Johnson has a 12 month low of $150.11 and a 12 month high of $181.04.

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

Johnson & Johnson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 7th. Shareholders of record on Monday, August 28th will be issued a $1.19 dividend. The ex-dividend date is Friday, August 25th. This represents a $4.76 annualized dividend and a dividend yield of 2.78%. Johnson & Johnson’s dividend payout ratio (DPR) is currently 96.36%.

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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