Silver Oak Securities Incorporated Trims Stock Holdings in Johnson & Johnson (NYSE:JNJ)

Posted by Defense World Staff on Aug 11th, 2023

Silver Oak Securities Incorporated decreased its holdings in Johnson & Johnson (NYSE:JNJ – Free Report) by 1.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,309 shares of the company’s stock after selling 63 shares during the period. Silver Oak Securities Incorporated’s holdings in Johnson & Johnson were worth $668,000 at the end of the most recent reporting period.

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

Johnson & Johnson Trading Down 0.5 %

Shares of JNJ opened at $172.18 on Friday. The firm has a 50 day moving average price of $164.21 and a 200-day moving average price of $161.13. Johnson & Johnson has a fifty-two week low of $150.11 and a fifty-two week high of $181.04. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.88 and a current ratio of 1.12. The firm has a market cap of $447.48 billion, a price-to-earnings ratio of 34.85, a PEG ratio of 2.90 and a beta of 0.54.

Johnson & Johnson (NYSE:JNJ – Get Free Report) last posted 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. Johnson & Johnson had a net margin of 13.35% and a return on equity of 36.72%. The company had revenue of $25.53 billion during the quarter, compared to analyst estimates of $24.63 billion. During the same period in the prior year, the business posted $2.59 EPS. The firm’s revenue was up 6.3% compared to the same quarter last year. As a group, equities research analysts forecast that Johnson & Johnson will post 10.75 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 7th. Investors of record on Monday, August 28th will be issued a dividend of $1.19 per share. The ex-dividend date is Friday, August 25th. This represents a $4.76 dividend on an annualized basis and a yield of 2.76%. Johnson & Johnson’s dividend payout ratio is currently 96.36%.

Insider Activity at Johnson & Johnson

In other Johnson & Johnson news, insider William Hait sold 14,698 shares of the company’s stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $172.00, for a total value of $2,528,056.00. Following the completion of the transaction, the insider now directly owns 87,747 shares in the company, valued at approximately $15,092,484. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Johnson & Johnson news, insider William Hait sold 14,698 shares of the company’s stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $172.00, for a total value of $2,528,056.00. Following the completion of the transaction, the insider now directly owns 87,747 shares in the company, valued at approximately $15,092,484. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Peter Fasolo sold 20,000 shares of the company’s stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $170.32, for a total transaction of $3,406,400.00. Following the completion of the transaction, the vice president now owns 102,696 shares of the company’s stock, valued at $17,491,182.72. The disclosure for this sale can be found here. Insiders sold 47,163 shares of company stock worth $7,928,856 in the last three months. 0.20% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages recently commented on JNJ. Morgan Stanley reaffirmed an “equal weight” rating and set a $187.00 price objective on shares of Johnson & Johnson in a research note on Friday, July 21st. StockNews.com assumed coverage on shares of Johnson & Johnson in a research note on Thursday, May 18th. They issued a “strong-buy” rating for the company. Atlantic Securities boosted their price target on shares of Johnson & Johnson from $167.00 to $170.00 and gave the stock a “neutral” rating in a research note on Friday, August 4th. Stifel Nicolaus boosted their price target on shares of Johnson & Johnson from $165.00 to $175.00 in a research note on Friday, July 21st. Finally, JPMorgan Chase & Co. boosted their price target on shares of Johnson & Johnson from $175.00 to $180.00 and gave the stock a “neutral” rating in a research note on Friday, July 21st. Eight investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $171.80.

View Our Latest Stock Analysis on JNJ

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.