Johnson & Johnson (NYSE:JNJ) Shares Sold by Prime Capital Investment Advisors LLC

Posted by Defense World Staff on Aug 12th, 2023

Prime Capital Investment Advisors LLC lessened its stake in shares of Johnson & Johnson (NYSE:JNJ – Free Report) by 25.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 136,662 shares of the company’s stock after selling 47,696 shares during the quarter. Johnson & Johnson accounts for 0.9% of Prime Capital Investment Advisors LLC’s investment portfolio, making the stock its 25th biggest position. Prime Capital Investment Advisors LLC’s holdings in Johnson & Johnson were worth $21,183,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Capital Analysts LLC lifted its stake in shares of Johnson & Johnson by 14.3% in the first quarter. Capital Analysts LLC now owns 38,183 shares of the company’s stock worth $5,918,000 after acquiring an additional 4,769 shares in the last quarter. Cullen Frost Bankers Inc. lifted its stake in shares of Johnson & Johnson by 1.1% in the first quarter. Cullen Frost Bankers Inc. now owns 356,849 shares of the company’s stock worth $55,312,000 after acquiring an additional 4,023 shares in the last quarter. Pettee Investors Inc. lifted its stake in shares of Johnson & Johnson by 0.5% in the first quarter. Pettee Investors Inc. now owns 97,600 shares of the company’s stock worth $15,128,000 after acquiring an additional 495 shares in the last quarter. Sentinel Trust Co. LBA lifted its stake in shares of Johnson & Johnson by 316.6% in the first quarter. Sentinel Trust Co. LBA now owns 20,022 shares of the company’s stock worth $3,103,000 after acquiring an additional 15,216 shares in the last quarter. Finally, Wesleyan Assurance Society lifted its stake in shares of Johnson & Johnson by 1.5% in the first quarter. Wesleyan Assurance Society now owns 100,979 shares of the company’s stock worth $15,645,000 after acquiring an additional 1,500 shares in the last quarter. Institutional investors and hedge funds own 67.57% of the company’s stock.

Insider Buying and Selling

In other Johnson & Johnson 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 completion of the sale, the executive vice president now directly owns 65,934 shares in the company, valued at $10,549,440. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Johnson & Johnson news, insider William Hait sold 14,698 shares of the company’s stock in a transaction that occurred on Wednesday, July 26th. The stock was sold at an average price of $172.00, for a total value of $2,528,056.00. Following the completion of the sale, the insider now directly owns 87,747 shares in the company, valued at $15,092,484. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 completion of the sale, the executive vice president now owns 65,934 shares of the company’s stock, 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 three months. 0.20% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $215.00 price target on shares of Johnson & Johnson in a research note on Monday, July 31st. 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 note on Friday, July 21st. Barclays upped their price objective on Johnson & Johnson from $171.00 to $175.00 and gave the company an “equal weight” rating in a research note on Monday, July 24th. Citigroup initiated coverage on Johnson & Johnson in a research note on Tuesday, May 30th. They set a “buy” rating and a $185.00 price objective on the stock. Finally, Raymond James upped their price objective on Johnson & Johnson from $181.00 to $184.00 and gave the company an “outperform” rating in a research note on Monday, July 24th. Eight research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $171.80.

Check Out Our Latest Report on Johnson & Johnson

Johnson & Johnson Stock Performance

Shares of JNJ stock opened at $173.85 on Friday. Johnson & Johnson has a 12-month low of $150.11 and a 12-month high of $181.04. The firm has a market capitalization of $451.83 billion, a price-to-earnings ratio of 35.19, a price-to-earnings-growth ratio of 2.90 and a beta of 0.54. The business has a 50 day simple moving average of $164.56 and a 200 day simple moving average of $161.21. 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 issued its quarterly earnings data on Thursday, July 20th. The company reported $2.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.62 by $0.18. Johnson & Johnson had a return on equity of 36.72% and a net margin of 13.35%. The business 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 company posted $2.59 EPS. The business’s revenue for the quarter was up 6.3% compared to the same quarter last year. On average, equities research analysts anticipate that Johnson & Johnson will post 10.75 EPS for the current year.

Johnson & Johnson Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 7th. Investors 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 yield of 2.74%. The ex-dividend date of this dividend is Friday, August 25th. Johnson & Johnson’s dividend payout ratio (DPR) 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.

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Institutional Ownership by Quarter for Johnson & Johnson (NYSE:JNJ)

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