One Day In July LLC Trims Stake in Johnson & Johnson (NYSE:JNJ)

Posted by on Aug 1st, 2023

One Day In July LLC reduced its holdings in shares of Johnson & Johnson (NYSE:JNJ – Free Report) by 3.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,042 shares of the company’s stock after selling 67 shares during the period. One Day In July LLC’s holdings in Johnson & Johnson were worth $317,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. GW&K Investment Management LLC purchased a new position in Johnson & Johnson during the 4th quarter valued at approximately $35,000. Dark Forest Capital Management LP grew its holdings in shares of 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 purchasing an additional 188 shares in the last quarter. Ruedi Wealth Management Inc. bought a new stake in Johnson & Johnson in the fourth quarter worth $42,000. Kepos Capital LP purchased a new stake in Johnson & Johnson during the fourth quarter valued at $45,000. Finally, VitalStone Financial LLC bought a new position in Johnson & Johnson during the fourth quarter valued at $52,000. 67.57% of the stock is owned by hedge funds and other institutional investors.

Johnson & Johnson Stock Performance

JNJ stock opened at $167.53 on Tuesday. 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 business has a 50-day moving average price of $161.97 and a 200 day moving average price of $161.07. The company has a market capitalization of $435.37 billion, a P/E ratio of 33.91, a PEG ratio of 2.93 and a beta of 0.55. Johnson & Johnson has a 1-year low of $150.11 and a 1-year high of $181.04.

Johnson & Johnson (NYSE:JNJ – Get Free Report) last announced its earnings results on Thursday, July 20th. The company reported $2.80 EPS for the quarter, topping analysts’ consensus estimates of $2.62 by $0.18. Johnson & Johnson had a net margin of 13.35% and a return on equity of 37.01%. The business had revenue of $25.53 billion during the quarter, compared to the consensus estimate of $24.63 billion. During the same period in the previous year, the company posted $2.59 earnings per share. The firm’s revenue was up 6.3% on a year-over-year basis. As a group, equities research analysts forecast that Johnson & Johnson will post 10.76 EPS for the current fiscal year.

Johnson & Johnson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 7th. Stockholders of record on Monday, August 28th will be paid a dividend of $1.19 per share. The ex-dividend date of this dividend is Friday, August 25th. This represents a $4.76 dividend on an annualized basis and a dividend yield of 2.84%. Johnson & Johnson’s payout ratio is 96.36%.

Insider Transactions at Johnson & Johnson

In related news, EVP Kathryn E. Wengel sold 12,465 shares of the company’s stock in a transaction that occurred on 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 sale, the executive vice president now owns 65,934 shares in the company, valued at $10,549,440. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Johnson & Johnson news, EVP Kathryn E. Wengel sold 12,465 shares of the company’s stock in a transaction that occurred on 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 sale, the executive vice president now owns 65,934 shares in the company, valued at approximately $10,549,440. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Peter Fasolo sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $170.32, for a total value of $3,406,400.00. Following the completion of the sale, the vice president now owns 102,696 shares in the company, valued at approximately $17,491,182.72. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 47,163 shares of company stock worth $7,928,856. Insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

JNJ has been the topic of several recent research reports. Barclays upped their target price on shares of Johnson & Johnson from $171.00 to $175.00 and gave the company an “equal weight” rating in a research report on Monday, July 24th. JPMorgan Chase & Co. raised their price target on Johnson & Johnson from $175.00 to $180.00 and gave the stock a “neutral” rating in a research report on Friday, July 21st. TheStreet downgraded shares of Johnson & Johnson from a “b” rating to a “c+” rating in a report on Friday, May 19th. Atlantic Securities decreased 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 note on Wednesday, April 19th. Finally, Raymond James increased their price target on Johnson & Johnson from $181.00 to $184.00 and gave the stock an “outperform” rating in a report on Monday, July 24th. Eight research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $171.60.

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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