Marquette Asset Management LLC Decreases Stock Holdings in Johnson & Johnson (NYSE:JNJ)

Posted by Defense World Staff on Jul 29th, 2023

Marquette Asset Management LLC reduced its position in shares of Johnson & Johnson (NYSE:JNJ – Free Report) by 7.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,400 shares of the company’s stock after selling 200 shares during the period. Marquette Asset Management LLC’s holdings in Johnson & Johnson were worth $372,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. GW&K Investment Management LLC purchased a new stake in Johnson & Johnson in the fourth quarter valued at $35,000. Dark Forest Capital Management LP lifted its position in Johnson & Johnson by 1,044.4% in the fourth quarter. Dark Forest Capital Management LP now owns 206 shares of the company’s stock valued at $36,000 after acquiring an additional 188 shares during the last quarter. Ruedi Wealth Management Inc. purchased a new stake in Johnson & Johnson in the fourth quarter valued at $42,000. Kepos Capital LP purchased a new stake in Johnson & Johnson in the fourth quarter valued at $45,000. Finally, VitalStone Financial LLC purchased a new stake in shares of Johnson & Johnson in the fourth quarter valued at about $52,000. 67.57% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Johnson & Johnson news, EVP Kathryn E. Wengel sold 12,465 shares of the company’s stock in a transaction dated Monday, June 12th. The shares were 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 directly owns 65,934 shares in the company, valued at $10,549,440. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Johnson & Johnson news, insider William Hait sold 14,698 shares of the company’s stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $172.00, for a total value of $2,528,056.00. Following the sale, the insider now owns 87,747 shares of the company’s stock, valued at $15,092,484. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kathryn E. Wengel sold 12,465 shares of the company’s stock in a transaction dated Monday, June 12th. The shares were 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 approximately $10,549,440. The disclosure for this sale can be found here. Over the last three months, insiders have sold 47,163 shares of company stock worth $7,928,856. 0.20% of the stock is owned by company insiders.

Analyst Ratings Changes

JNJ has been the subject of a number of research reports. StockNews.com initiated coverage on shares of Johnson & Johnson in a report on Thursday, May 18th. They issued a “strong-buy” rating for the company. Stifel Nicolaus upped their target price on shares of Johnson & Johnson from $165.00 to $175.00 in a report on Friday, July 21st. Atlantic Securities reduced 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. Morgan Stanley reaffirmed an “equal weight” rating and issued a $187.00 target price on shares of Johnson & Johnson in a report on Friday, July 21st. Finally, JPMorgan Chase & Co. upped their target price on shares of Johnson & Johnson from $175.00 to $180.00 and gave the company a “neutral” rating in a report on Friday, July 21st. Eight research 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 MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $171.60.

Johnson & Johnson Trading Up 0.5 %

Shares of Johnson & Johnson stock opened at $174.51 on Friday. The company has a quick ratio of 0.85, a current ratio of 1.07 and a debt-to-equity ratio of 0.49. The company’s 50-day simple moving average is $161.76 and its 200-day simple moving average is $161.30. 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 $453.50 billion, a price-to-earnings ratio of 35.33, a price-to-earnings-growth ratio of 2.90 and a beta of 0.55.

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, topping the consensus estimate of $2.62 by $0.18. Johnson & Johnson had a net margin of 13.35% and a return on equity of 37.01%. The company had revenue of $25.53 billion for the quarter, compared to analyst estimates of $24.63 billion. During the same period in the prior year, the business posted $2.59 earnings per share. The firm’s revenue for the quarter was up 6.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Johnson & Johnson will post 10.76 earnings per share for the current year.

Johnson & Johnson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 7th. Shareholders of record on Monday, August 28th will be given a dividend of $1.19 per share. The ex-dividend date of this dividend is Friday, August 25th. This represents a $4.76 annualized dividend and a yield of 2.73%. Johnson & Johnson’s payout ratio 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.