Abundance Wealth Counselors Decreases Holdings in Johnson & Johnson (NYSE:JNJ)

Posted by Defense World Staff on Aug 1st, 2023

Abundance Wealth Counselors trimmed its stake in shares of Johnson & Johnson (NYSE:JNJ – Free Report) by 4.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,204 shares of the company’s stock after selling 483 shares during the period. Abundance Wealth Counselors’ holdings in Johnson & Johnson were worth $1,582,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Moneta Group Investment Advisors LLC lifted its stake in shares of Johnson & Johnson by 90,144.4% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 54,386,720 shares of the company’s stock worth $9,607,414,000 after buying an additional 54,326,454 shares in the last quarter. Norges Bank acquired a new stake in shares of Johnson & Johnson during the fourth quarter valued at about $4,609,399,000. Morgan Stanley increased its position in shares of Johnson & Johnson by 12.0% during the fourth 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 shares of Johnson & Johnson during the fourth quarter valued at about $785,273,000. Finally, Price T Rowe Associates Inc. MD increased its position in shares of Johnson & Johnson by 15.1% during the fourth 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. 67.57% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on JNJ shares. StockNews.com started coverage on shares of Johnson & Johnson in a report on Thursday, May 18th. They issued a “strong-buy” rating for the company. Credit Suisse Group lifted their price objective on shares of Johnson & Johnson from $170.00 to $175.00 and gave the company a “neutral” rating in a report on Friday, July 21st. Raymond James lifted their price target on shares of Johnson & Johnson from $181.00 to $184.00 and gave the stock an “outperform” rating in a research note on Monday, July 24th. Barclays lifted their price target on shares of Johnson & Johnson from $171.00 to $175.00 and gave the stock an “equal weight” rating in a research note on Monday, July 24th. Finally, Atlantic Securities decreased their price target on shares of Johnson & Johnson from $168.00 to $167.00 and set a “neutral” rating for the company in a research note on Wednesday, April 19th. Eight 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 stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $171.60.

Insider Buying and Selling at Johnson & Johnson

In other news, insider William Hait sold 14,698 shares of the stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $172.00, for a total transaction of $2,528,056.00. Following the transaction, the insider now directly owns 87,747 shares in the company, valued at approximately $15,092,484. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, insider William Hait sold 14,698 shares of the stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $172.00, for a total transaction of $2,528,056.00. Following the transaction, the insider now directly owns 87,747 shares in the company, valued at approximately $15,092,484. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Peter Fasolo sold 20,000 shares of the stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $170.32, for a total transaction of $3,406,400.00. Following the sale, the vice president now directly owns 102,696 shares of the company’s stock, valued at approximately $17,491,182.72. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 47,163 shares of company stock worth $7,928,856. Corporate insiders own 0.20% of the company’s stock.

Johnson & Johnson Stock Performance

Shares of Johnson & Johnson stock opened at $167.53 on Tuesday. Johnson & Johnson has a 12 month low of $150.11 and a 12 month high of $181.04. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.07 and a quick ratio of 0.85. The firm’s fifty day simple moving average is $161.97 and its 200-day simple moving average is $161.07. The stock has a market capitalization of $435.37 billion, a price-to-earnings ratio of 33.91, a PEG ratio of 2.93 and a beta of 0.55.

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, 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 business’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.59 EPS. As a group, equities analysts forecast that Johnson & Johnson will post 10.76 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

The company also recently announced 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 dividend on an annualized basis and a yield of 2.84%. Johnson & Johnson’s dividend payout ratio (DPR) 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.