Easterly Investment Partners LLC Buys 48,659 Shares of Johnson & Johnson (NYSE:JNJ)

Posted by Defense World Staff on Aug 1st, 2023

Easterly Investment Partners LLC raised its stake in Johnson & Johnson (NYSE:JNJ – Free Report) by 46.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 152,958 shares of the company’s stock after acquiring an additional 48,659 shares during the quarter. Johnson & Johnson comprises 1.6% of Easterly Investment Partners LLC’s holdings, making the stock its 14th largest position. Easterly Investment Partners LLC’s holdings in Johnson & Johnson were worth $23,709,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently bought and sold shares of JNJ. Scotia Capital Inc. increased its holdings in shares of Johnson & Johnson by 1.6% during the fourth quarter. Scotia Capital Inc. now owns 1,105,147 shares of the company’s stock worth $195,247,000 after purchasing an additional 17,440 shares during the period. Wisconsin Capital Management LLC increased its stake in Johnson & Johnson by 0.8% in the first quarter. Wisconsin Capital Management LLC now owns 15,723 shares of the company’s stock valued at $2,437,000 after acquiring an additional 127 shares during the last quarter. Boyar Asset Management Inc. increased its stake in Johnson & Johnson by 1.1% in the first quarter. Boyar Asset Management Inc. now owns 19,191 shares of the company’s stock valued at $2,975,000 after acquiring an additional 201 shares during the last quarter. Van Hulzen Asset Management LLC boosted its position in Johnson & Johnson by 31.8% in the first quarter. Van Hulzen Asset Management LLC now owns 161,743 shares of the company’s stock valued at $25,052,000 after buying an additional 39,032 shares in the last quarter. Finally, Duality Advisers LP acquired a new stake in Johnson & Johnson in the fourth quarter valued at approximately $4,342,000. 67.57% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on JNJ. Raymond James raised their target price on shares of Johnson & Johnson from $181.00 to $184.00 and gave the company an “outperform” rating in a research report on Monday, July 24th. Citigroup assumed coverage on shares of Johnson & Johnson in a report on Tuesday, May 30th. They set a “buy” rating and a $185.00 price target on the stock. TheStreet lowered shares of Johnson & Johnson from a “b” rating to a “c+” rating in a report on Friday, May 19th. StockNews.com assumed coverage on shares of Johnson & Johnson in a report on Thursday, May 18th. They set a “strong-buy” rating on the stock. Finally, Credit Suisse Group lifted their price target on shares of Johnson & Johnson from $170.00 to $175.00 and gave the stock a “neutral” rating in a report on Friday, July 21st. Eight equities research 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’s stock. According to MarketBeat, Johnson & Johnson currently has an average rating of “Hold” and an average price target of $171.60.

Johnson & Johnson Trading Down 4.0 %

Shares of JNJ opened at $167.53 on Tuesday. The stock 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. 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 firm has a fifty day simple moving average of $161.97 and a two-hundred day simple moving average of $161.07. Johnson & Johnson has a twelve month low of $150.11 and a twelve month high of $181.04.

Johnson & Johnson (NYSE:JNJ – Get Free Report) last announced its quarterly 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. 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 analysts’ expectations of $24.63 billion. During the same quarter in the prior year, the company posted $2.59 EPS. The firm’s revenue for the quarter was up 6.3% compared to the same quarter last year. On average, research analysts anticipate that Johnson & Johnson will post 10.76 EPS for the current year.

Johnson & Johnson Announces Dividend

The business also recently announced 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. The ex-dividend date of this dividend is Friday, August 25th. This represents a $4.76 annualized dividend and a dividend yield of 2.84%. Johnson & Johnson’s dividend payout ratio is 96.36%.

Insider Buying and Selling

In related news, EVP Kathryn E. Wengel sold 12,465 shares of the stock in a transaction dated 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 completion of the transaction, the executive vice president now directly 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 this hyperlink. In related news, EVP Kathryn E. Wengel sold 12,465 shares of the stock in a transaction dated 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 completion of the transaction, the executive vice president now directly 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 this hyperlink. Also, VP Peter Fasolo sold 20,000 shares of the stock in a transaction dated 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 completion of the transaction, the vice president now owns 102,696 shares of the company’s stock, valued at $17,491,182.72. The disclosure for this sale can be found here. Insiders sold a total of 47,163 shares of company stock worth $7,928,856 in the last three months. 0.20% of the stock is owned by corporate insiders.

Johnson & Johnson 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.