Kerntke Otto McGlone Wealth Management Group Sells 191 Shares of Johnson & Johnson (NYSE:JNJ)

Posted by Defense World Staff on Aug 10th, 2023

Kerntke Otto McGlone Wealth Management Group decreased its position in shares of Johnson & Johnson (NYSE:JNJ – Free Report) by 5.7% during the first quarter, according to its most recent filing with the SEC. The firm owned 3,132 shares of the company’s stock after selling 191 shares during the period. Kerntke Otto McGlone Wealth Management Group’s holdings in Johnson & Johnson were worth $485,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in JNJ. GW&K Investment Management LLC bought a new stake in Johnson & Johnson in the fourth quarter worth $35,000. Dark Forest Capital Management LP boosted its holdings in Johnson & Johnson by 1,044.4% in the fourth quarter. Dark Forest Capital Management LP now owns 206 shares of the company’s stock worth $36,000 after acquiring an additional 188 shares in the last quarter. Ruedi Wealth Management Inc. bought a new stake in Johnson & Johnson in the fourth quarter worth $42,000. Kepos Capital LP bought a new stake in Johnson & Johnson in the fourth quarter worth $45,000. Finally, VitalStone Financial LLC bought a new stake in Johnson & Johnson in the fourth quarter worth $52,000. Hedge funds and other institutional investors own 67.57% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. TheStreet cut Johnson & Johnson from a “b” rating to a “c+” rating in a research note on Friday, May 19th. Cantor Fitzgerald restated an “overweight” rating and issued a $215.00 price target on shares of Johnson & Johnson in a research note on Monday, July 31st. Citigroup assumed coverage on Johnson & Johnson in a research note on Tuesday, May 30th. They issued a “buy” rating and a $185.00 price target for the company. JPMorgan Chase & Co. upped their price objective on Johnson & Johnson from $175.00 to $180.00 and gave the company a “neutral” rating in a research report on Friday, July 21st. Finally, Credit Suisse Group upped their price objective on Johnson & Johnson from $170.00 to $175.00 and gave the company a “neutral” rating in a research report 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 company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $171.80.

Check Out Our Latest Research Report on Johnson & Johnson

Insider Activity

In other news, VP Peter Fasolo sold 20,000 shares of the firm’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 directly owns 102,696 shares of the company’s stock, valued at approximately $17,491,182.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, VP Peter Fasolo sold 20,000 shares of the 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 sale, the vice president now directly owns 102,696 shares in the company, valued at $17,491,182.72. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, 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 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. Insiders sold 47,163 shares of company stock valued at $7,928,856 in the last ninety days. Insiders own 0.20% of the company’s stock.

Johnson & Johnson Price Performance

Shares of Johnson & Johnson stock opened at $173.07 on Thursday. The firm has a market cap of $449.80 billion, a PE ratio of 35.03, a PEG ratio of 2.90 and a beta of 0.54. Johnson & Johnson has a 12 month low of $150.11 and a 12 month high of $181.04. The stock has a 50 day moving average of $164.21 and a 200 day moving average of $161.13. The company has a current ratio of 1.12, a quick ratio of 0.88 and a debt-to-equity ratio of 0.44.

Johnson & Johnson (NYSE:JNJ – Get Free Report) last posted its quarterly earnings data on Thursday, July 20th. The company reported $2.80 earnings per share (EPS) for the quarter, beating the consensus estimate 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 36.72% and a net margin of 13.35%. The company’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same period last year, the company earned $2.59 EPS. On average, research analysts expect that Johnson & Johnson will post 10.75 EPS for the current fiscal 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 2.75%. The ex-dividend date of this dividend is Friday, August 25th. Johnson & Johnson’s payout ratio is 96.36%.

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.