Horst & Graben Wealth Management LLC Boosts Stake in Johnson & Johnson (NYSE:JNJ)

Posted by Defense World Staff on Jul 27th, 2023

Horst & Graben Wealth Management LLC increased its stake in shares of Johnson & Johnson (NYSE:JNJ – Free Report) by 13.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,635 shares of the company’s stock after purchasing an additional 532 shares during the period. Horst & Graben Wealth Management LLC’s holdings in Johnson & Johnson were worth $718,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of JNJ. Moneta Group Investment Advisors LLC raised its holdings in Johnson & Johnson by 90,144.4% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 54,386,720 shares of the company’s stock valued at $9,607,414,000 after acquiring an additional 54,326,454 shares during the last quarter. Norges Bank acquired a new stake in Johnson & Johnson in the 4th quarter valued at about $4,609,399,000. Morgan Stanley raised its holdings in Johnson & Johnson by 12.0% in the 4th quarter. Morgan Stanley now owns 42,224,521 shares of the company’s stock valued at $7,458,962,000 after acquiring an additional 4,521,062 shares during the last quarter. Nordwand Advisors LLC acquired a new stake in Johnson & Johnson in the 4th quarter valued at about $785,273,000. Finally, Price T Rowe Associates Inc. MD raised its holdings in Johnson & Johnson by 15.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 29,277,774 shares of the company’s stock valued at $5,171,919,000 after acquiring an additional 3,849,148 shares during the last quarter. Institutional investors and hedge funds own 67.57% of the company’s stock.

Johnson & Johnson Stock Up 0.2 %

Shares of NYSE:JNJ opened at $172.72 on Thursday. The company has a market cap of $448.85 billion, a price-to-earnings ratio of 34.96, a PEG ratio of 2.87 and a beta of 0.55. 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 simple moving average is $160.60 and its 200-day simple moving average is $161.20. 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 Thursday, July 20th. The company reported $2.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 net margin of 13.35% and a return on equity of 37.01%. The firm’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.59 earnings per share. As a group, equities research analysts predict that Johnson & Johnson will post 10.76 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 7th. Stockholders 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 2.76%. The ex-dividend date of this dividend is Friday, August 25th. Johnson & Johnson’s dividend payout ratio is presently 96.36%.

Analysts Set New Price Targets

Several research firms have recently weighed in on JNJ. StockNews.com began coverage on shares of Johnson & Johnson in a research note on Thursday, May 18th. They issued a “strong-buy” rating for the company. Credit Suisse Group raised their price target on shares of Johnson & Johnson from $170.00 to $175.00 and gave the company a “neutral” rating in a research report on Friday, July 21st. Morgan Stanley restated an “equal weight” rating and issued a $187.00 price objective on shares of Johnson & Johnson in a report on Friday, July 21st. TheStreet lowered shares of Johnson & Johnson from a “b” rating to a “c+” rating in a report on Friday, May 19th. Finally, Citigroup started coverage on shares of Johnson & Johnson in a research note on Tuesday, May 30th. They set a “buy” rating and a $185.00 price target on the stock. Eight investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $171.60.

Insider Buying and Selling

In other Johnson & Johnson news, EVP Kathryn E. Wengel sold 12,465 shares of Johnson & Johnson stock in a transaction 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 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. 0.20% of the stock is currently owned by company insiders.

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.