Wealthquest Corp Sells 230 Shares of Johnson & Johnson (NYSE:JNJ)

Posted by Defense World Staff on Aug 8th, 2023

Wealthquest Corp lowered its stake in shares of Johnson & Johnson (NYSE:JNJ – Free Report) by 2.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 11,045 shares of the company’s stock after selling 230 shares during the quarter. Wealthquest Corp’s holdings in Johnson & Johnson were worth $1,712,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of JNJ. GW&K Investment Management LLC purchased a new position in Johnson & Johnson during the 4th quarter valued at $35,000. Dark Forest Capital Management LP boosted its holdings in Johnson & Johnson by 1,044.4% during the 4th quarter. Dark Forest Capital Management LP now owns 206 shares of the company’s stock valued at $36,000 after acquiring an additional 188 shares during the period. Ruedi Wealth Management Inc. purchased a new stake in shares of Johnson & Johnson in the 4th quarter worth $42,000. Kepos Capital LP purchased a new stake in shares of Johnson & Johnson in the 4th quarter worth $45,000. Finally, VitalStone Financial LLC purchased a new stake in shares of Johnson & Johnson in the 4th quarter worth $52,000. Institutional investors own 67.57% of the company’s stock.

Wall Street Analysts Forecast Growth

JNJ has been the subject of several research reports. Citigroup initiated coverage on Johnson & Johnson in a report on Tuesday, May 30th. They issued a “buy” rating and a $185.00 target price for the company. Atlantic Securities upped their target price on Johnson & Johnson from $167.00 to $170.00 and gave the stock a “neutral” rating in a report on Friday. Stifel Nicolaus upped their target price on Johnson & Johnson from $165.00 to $175.00 in a report on Friday, July 21st. Morgan Stanley restated an “equal weight” rating and set a $187.00 price objective on shares of Johnson & Johnson in a research note on Friday, July 21st. Finally, Credit Suisse Group upped their price objective on Johnson & Johnson from $170.00 to $175.00 and gave the stock 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 assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $171.80.

Get Our Latest Stock Analysis on Johnson & Johnson

Johnson & Johnson Trading Up 2.4 %

Shares of NYSE:JNJ opened at $173.10 on Tuesday. The business’s 50-day moving average is $163.10 and its 200 day moving average is $160.99. Johnson & Johnson has a 1 year low of $150.11 and a 1 year high of $181.04. The firm has a market capitalization of $449.88 billion, a P/E ratio of 35.04, a P/E/G ratio of 2.84 and a beta of 0.54. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.12 and a quick ratio of 0.88.

Johnson & Johnson (NYSE:JNJ – Get Free Report) last announced its quarterly earnings data on Thursday, July 20th. The company reported $2.80 earnings per share for the quarter, beating analysts’ consensus estimates of $2.62 by $0.18. The business had revenue of $25.53 billion for the quarter, compared to analyst estimates of $24.63 billion. Johnson & Johnson had a return on equity of 36.72% and a net margin of 13.35%. The company’s revenue was up 6.3% on a year-over-year basis. During the same period in the prior year, the company earned $2.59 earnings per share. On average, research analysts predict that Johnson & Johnson will post 10.75 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 7th. Stockholders of record on Monday, August 28th will be issued a $1.19 dividend. This represents a $4.76 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date is Friday, August 25th. Johnson & Johnson’s dividend payout ratio is presently 96.36%.

Insider Activity

In other news, EVP Kathryn E. Wengel sold 12,465 shares of the stock in a transaction dated 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 transaction, 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Kathryn E. Wengel sold 12,465 shares of the company’s stock in a transaction dated 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Peter Fasolo sold 20,000 shares of the company’s stock in a transaction dated 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 three months, insiders have sold 47,163 shares of company stock valued at $7,928,856. Company insiders own 0.20% of the company’s stock.

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.