Nisa Investment Advisors LLC Raises Stake in Johnson & Johnson (NYSE:JNJ)

Posted by Defense World Staff on Aug 1st, 2023

Nisa Investment Advisors LLC lifted its holdings in shares of Johnson & Johnson (NYSE:JNJ – Free Report) by 0.9% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 748,842 shares of the company’s stock after acquiring an additional 6,836 shares during the quarter. Johnson & Johnson makes up 0.9% of Nisa Investment Advisors LLC’s portfolio, making the stock its 14th biggest position. Nisa Investment Advisors LLC’s holdings in Johnson & Johnson were worth $116,071,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Jacobsen Capital Management bought a new stake in Johnson & Johnson in the 1st quarter worth approximately $567,000. Firethorn Wealth Partners LLC increased its position in Johnson & Johnson by 1.9% during the 1st quarter. Firethorn Wealth Partners LLC now owns 5,614 shares of the company’s stock valued at $918,000 after buying an additional 105 shares in the last quarter. Arkadios Wealth Advisors increased its position in Johnson & Johnson by 7.3% during the 1st quarter. Arkadios Wealth Advisors now owns 46,304 shares of the company’s stock valued at $7,177,000 after buying an additional 3,170 shares in the last quarter. Pallas Capital Advisors LLC boosted its holdings in shares of Johnson & Johnson by 5.8% in the 1st quarter. Pallas Capital Advisors LLC now owns 67,071 shares of the company’s stock valued at $10,978,000 after acquiring an additional 3,653 shares during the last quarter. Finally, Dover Advisors LLC lifted its holdings in Johnson & Johnson by 7.0% in the first quarter. Dover Advisors LLC now owns 12,819 shares of the company’s stock valued at $1,987,000 after acquiring an additional 834 shares during the period. Institutional investors own 67.57% of the company’s stock.

Insider Transactions at Johnson & Johnson

In related news, EVP Kathryn E. Wengel sold 12,465 shares of the company’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 directly owns 65,934 shares of the company’s stock, valued at $10,549,440. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, VP Peter Fasolo sold 20,000 shares of Johnson & Johnson 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 transaction, the vice president now owns 102,696 shares in the company, valued at approximately $17,491,182.72. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Kathryn E. Wengel sold 12,465 shares of Johnson & Johnson stock in a transaction on 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 sale, the executive vice president now directly owns 65,934 shares of the company’s stock, valued at $10,549,440. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 47,163 shares of company stock valued at $7,928,856. 0.20% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on JNJ shares. Barclays boosted their target price on Johnson & Johnson from $171.00 to $175.00 and gave the stock an “equal weight” rating in a report on Monday, July 24th. Morgan Stanley restated an “equal weight” rating and issued a $187.00 price objective on shares of Johnson & Johnson in a research note on Friday, July 21st. Cantor Fitzgerald reiterated an “overweight” rating and set a $215.00 target price on shares of Johnson & Johnson in a research note on Monday. JPMorgan Chase & Co. raised their price objective on shares of Johnson & Johnson from $175.00 to $180.00 and gave the company a “neutral” rating in a research report on Friday, July 21st. Finally, Citigroup assumed coverage on shares of Johnson & Johnson in a research note on Tuesday, May 30th. They set a “buy” rating and a $185.00 price objective for the company. Eight investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Johnson & Johnson currently has an average rating of “Hold” and a consensus price target of $171.60.

Johnson & Johnson Price Performance

NYSE:JNJ 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 firm’s fifty day moving average price is $161.97 and its two-hundred day moving average price is $161.07. Johnson & Johnson has a one year low of $150.11 and a one year high of $181.04. The company has a market cap of $435.37 billion, a P/E ratio of 33.91, a P/E/G ratio of 2.93 and a beta of 0.55.

Johnson & Johnson (NYSE:JNJ – Get Free Report) last released its quarterly earnings results on Thursday, July 20th. The company reported $2.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.62 by $0.18. The firm had revenue of $25.53 billion during 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 company’s revenue was up 6.3% compared to the same quarter last year. During the same quarter last year, the business earned $2.59 EPS. Equities analysts expect that Johnson & Johnson will post 10.76 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

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 issued a dividend of $1.19 per share. This represents a $4.76 dividend on an annualized basis and a yield of 2.84%. The ex-dividend date is Friday, August 25th. Johnson & Johnson’s payout ratio is presently 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.