Latitude Advisors LLC Sells 107 Shares of Johnson & Johnson (NYSE:JNJ)

Posted by on Jul 25th, 2023

Latitude Advisors LLC reduced its holdings in shares of Johnson & Johnson (NYSE:JNJ – Free Report) by 4.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,272 shares of the company’s stock after selling 107 shares during the period. Latitude Advisors LLC’s holdings in Johnson & Johnson were worth $352,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of JNJ. GW&K Investment Management LLC purchased a new position in Johnson & Johnson in the fourth quarter worth $35,000. Dark Forest Capital Management LP boosted its position in Johnson & Johnson by 1,044.4% during the fourth quarter. Dark Forest Capital Management LP now owns 206 shares of the company’s stock worth $36,000 after purchasing an additional 188 shares during the period. Retirement Financial Solutions LLC purchased a new position in shares of Johnson & Johnson in the fourth quarter worth about $40,000. Ruedi Wealth Management Inc. bought a new stake in shares of Johnson & Johnson in the fourth quarter valued at approximately $42,000. Finally, Kepos Capital LP bought a new position in Johnson & Johnson in the 4th quarter worth approximately $45,000. 67.57% of the stock is currently owned by institutional investors.

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 stock was 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 owns 65,934 shares in the company, valued at approximately $10,549,440. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on JNJ shares. Raymond James raised their price target on Johnson & Johnson from $181.00 to $184.00 and gave the stock an “outperform” rating in a report on Monday. Citigroup initiated coverage on Johnson & Johnson in a research report on Tuesday, May 30th. They set a “buy” rating and a $185.00 price target on the stock. Atlantic Securities cut their price objective on shares of Johnson & Johnson from $168.00 to $167.00 and set a “neutral” rating for the company in a research report on Wednesday, April 19th. Credit Suisse Group upped their target price on shares of Johnson & Johnson from $170.00 to $175.00 and gave the stock a “neutral” rating in a report on Friday. Finally, UBS Group began coverage on shares of Johnson & Johnson in a report on Tuesday, March 28th. They issued a “neutral” rating and a $164.00 price target for the company. Eight investment 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 company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $171.60.

Johnson & Johnson Trading Up 0.5 %

Shares of JNJ opened at $171.10 on Tuesday. The firm has a market cap of $444.64 billion, a price-to-earnings ratio of 34.64, a PEG ratio of 2.88 and a beta of 0.55. The firm has a 50 day moving average price of $160.60 and a 200-day moving average price of $161.20. Johnson & Johnson has a fifty-two week low of $150.11 and a fifty-two week high of $181.04. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.85 and a current ratio of 1.07.

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

Johnson & Johnson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 7th. Shareholders of record on Monday, August 28th will be given a $1.19 dividend. This represents a $4.76 dividend on an annualized basis and a dividend yield of 2.78%. The ex-dividend date is Friday, August 25th. Johnson & Johnson’s payout ratio is 96.36%.

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.

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

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