V Wealth Advisors LLC Increases Stock Position in Johnson & Johnson (NYSE:JNJ)

Posted by Defense World Staff on Aug 1st, 2023

V Wealth Advisors LLC lifted its stake in Johnson & Johnson (NYSE:JNJ – Free Report) by 2.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,819 shares of the company’s stock after purchasing an additional 308 shares during the period. V Wealth Advisors LLC’s holdings in Johnson & Johnson were worth $1,832,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. DORCHESTER WEALTH MANAGEMENT Co increased its stake in shares of Johnson & Johnson by 8.6% in the 1st quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 67,618 shares of the company’s stock worth $14,975,000 after acquiring an additional 5,327 shares in the last quarter. Cantor Fitzgerald Investment Advisor L.P grew its stake in shares of Johnson & Johnson by 88.9% in the first quarter. Cantor Fitzgerald Investment Advisor L.P now owns 175,194 shares of the company’s stock worth $31,049,000 after acquiring an additional 82,429 shares during the period. AMI Investment Management Inc. grew its stake in shares of Johnson & Johnson by 8.8% in the first quarter. AMI Investment Management Inc. now owns 18,305 shares of the company’s stock worth $3,244,000 after acquiring an additional 1,475 shares during the period. Equitable Holdings Inc. grew its stake in shares of Johnson & Johnson by 4.9% in the first quarter. Equitable Holdings Inc. now owns 45,673 shares of the company’s stock worth $8,095,000 after acquiring an additional 2,119 shares during the period. Finally, USS Investment Management Ltd boosted its holdings in shares of Johnson & Johnson by 2.4% in the first quarter. USS Investment Management Ltd now owns 860,371 shares of the company’s stock worth $152,488,000 after buying an additional 20,528 shares during the last quarter. 67.57% of the stock is owned by hedge funds and other institutional investors.

Johnson & Johnson Stock Down 4.0 %

Shares of JNJ opened at $167.53 on Tuesday. Johnson & Johnson has a 52-week low of $150.11 and a 52-week high of $181.04. The company has a market capitalization of $435.37 billion, a PE ratio of 33.91, a price-to-earnings-growth ratio of 2.93 and a beta of 0.55. The stock has a fifty day simple moving average of $161.97 and a two-hundred day simple moving average of $161.07. 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 EPS for the quarter, beating analysts’ consensus estimates of $2.62 by $0.18. Johnson & Johnson had a return on equity of 37.01% and a net margin of 13.35%. The company had revenue of $25.53 billion during the quarter, compared to analysts’ expectations of $24.63 billion. During the same period last year, the business posted $2.59 EPS. Johnson & Johnson’s revenue for the quarter was up 6.3% on a year-over-year basis. As a group, equities analysts forecast that Johnson & Johnson will post 10.76 EPS for the current year.

Johnson & Johnson Announces Dividend

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

Analyst Ratings Changes

A number of research firms recently issued reports on JNJ. Raymond James raised their price objective on shares of Johnson & Johnson from $181.00 to $184.00 and gave the stock an “outperform” rating in a report on Monday, July 24th. Morgan Stanley reissued an “equal weight” rating and issued a $187.00 price objective on shares of Johnson & Johnson in a research note on Friday, July 21st. StockNews.com began coverage on shares of Johnson & Johnson in a research report on Thursday, May 18th. They issued a “strong-buy” rating on the stock. JPMorgan Chase & Co. lifted their target price on Johnson & Johnson from $175.00 to $180.00 and gave the stock a “neutral” rating in a research report on Friday, July 21st. Finally, Credit Suisse Group raised their price target on Johnson & Johnson from $170.00 to $175.00 and gave the company a “neutral” rating in a research note on Friday, July 21st. Eight research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $171.60.

Insider Transactions at Johnson & Johnson

In other Johnson & Johnson news, EVP Kathryn E. Wengel sold 12,465 shares of Johnson & Johnson stock in a transaction that occurred on Monday, June 12th. The stock was 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 owns 65,934 shares of the company’s stock, valued at $10,549,440. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, insider William Hait sold 14,698 shares of Johnson & Johnson stock in a transaction that occurred on Wednesday, July 26th. The stock was sold at an average price of $172.00, for a total value of $2,528,056.00. Following the sale, the insider now directly owns 87,747 shares in the company, valued at $15,092,484. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Kathryn E. Wengel sold 12,465 shares of the business’s stock in a transaction 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 47,163 shares of company stock valued at $7,928,856. Corporate insiders own 0.20% of the company’s stock.

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.