Maple Capital Management Inc. Buys 1,182 Shares of Johnson & Johnson (NYSE:JNJ)

Posted by Defense World Staff on Aug 2nd, 2023

Maple Capital Management Inc. lifted its stake in shares of Johnson & Johnson (NYSE:JNJ – Free Report) by 0.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 148,707 shares of the company’s stock after purchasing an additional 1,182 shares during the quarter. Johnson & Johnson accounts for about 2.8% of Maple Capital Management Inc.’s holdings, making the stock its 13th largest position. Maple Capital Management Inc.’s holdings in Johnson & Johnson were worth $23,050,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in JNJ. Moneta Group Investment Advisors LLC grew its position in Johnson & Johnson by 90,144.4% during 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. Geode Capital Management LLC grew its position in Johnson & Johnson by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 47,958,583 shares of the company’s stock worth $8,456,643,000 after buying an additional 294,671 shares in the last quarter. Morgan Stanley grew its position in Johnson & Johnson by 12.0% during the fourth quarter. Morgan Stanley now owns 42,224,521 shares of the company’s stock worth $7,458,962,000 after buying an additional 4,521,062 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in 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 worth $5,171,919,000 after buying an additional 3,849,148 shares in the last quarter. Finally, Norges Bank purchased a new position in Johnson & Johnson during the fourth quarter worth about $4,609,399,000. 67.57% of the stock is currently owned by institutional investors.

Johnson & Johnson Trading Up 0.8 %

JNJ opened at $168.89 on Wednesday. The business has a 50 day simple moving average of $162.21 and a two-hundred day simple moving average of $161.03. The firm has a market capitalization of $438.90 billion, a price-to-earnings ratio of 34.19, a PEG ratio of 2.93 and a beta of 0.55. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.07 and a quick ratio of 0.85. Johnson & Johnson has a one year low of $150.11 and a one year high of $181.04.

Johnson & Johnson (NYSE:JNJ – Get Free Report) last released its quarterly 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. The business had revenue of $25.53 billion during the quarter, compared to analyst estimates of $24.63 billion. Johnson & Johnson had a return on equity of 37.01% and a net margin of 13.35%. Johnson & Johnson’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.59 EPS. Analysts predict that Johnson & Johnson will post 10.76 EPS for the current year.

Johnson & Johnson Dividend Announcement

The company 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. This represents a $4.76 annualized dividend and a dividend yield of 2.82%. The ex-dividend date is Friday, August 25th. Johnson & Johnson’s dividend payout ratio is currently 96.36%.

Insider Transactions at Johnson & Johnson

In other news, EVP Kathryn E. Wengel sold 12,465 shares of the 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 completion of the transaction, the executive vice president now owns 65,934 shares of the company’s stock, valued at approximately $10,549,440. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 approximately $10,549,440. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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. In the last quarter, insiders sold 47,163 shares of company stock valued at $7,928,856. Corporate insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on JNJ shares. Credit Suisse Group boosted their target price on Johnson & Johnson from $170.00 to $175.00 and gave the stock a “neutral” rating in a research report on Friday, July 21st. Stifel Nicolaus upped their price objective on Johnson & Johnson from $165.00 to $175.00 in a report on Friday, July 21st. Barclays upped their price objective on Johnson & Johnson from $171.00 to $175.00 and gave the stock an “equal weight” rating in a report on Monday, July 24th. JPMorgan Chase & Co. upped their price objective on Johnson & Johnson from $175.00 to $180.00 and gave the stock a “neutral” rating in a report on Friday, July 21st. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $215.00 price objective on shares of Johnson & Johnson in a report on Monday. Eight research 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. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $171.60.

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.