PrairieView Partners LLC Decreases Stake in Johnson & Johnson (NYSE:JNJ)

Posted by Defense World Staff on Aug 14th, 2023

PrairieView Partners LLC lessened its position in shares of Johnson & Johnson (NYSE:JNJ – Free Report) by 6.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,288 shares of the company’s stock after selling 159 shares during the quarter. PrairieView Partners LLC’s holdings in Johnson & Johnson were worth $354,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Moneta Group Investment Advisors LLC boosted its holdings in Johnson & Johnson by 90,144.4% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 54,386,720 shares of the company’s stock valued at $9,607,414,000 after acquiring an additional 54,326,454 shares during the period. Norges Bank purchased a new position in shares of Johnson & Johnson during the fourth quarter worth approximately $4,609,399,000. Morgan Stanley grew its stake in Johnson & Johnson by 12.0% in the fourth quarter. Morgan Stanley now owns 42,224,521 shares of the company’s stock worth $7,458,962,000 after purchasing an additional 4,521,062 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in Johnson & Johnson by 15.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 29,277,774 shares of the company’s stock valued at $5,171,919,000 after purchasing an additional 3,849,148 shares in the last quarter. Finally, Savant Capital LLC lifted its holdings in shares of Johnson & Johnson by 8,568.8% in the 4th quarter. Savant Capital LLC now owns 3,630,127 shares of the company’s stock worth $29,637,000 after buying an additional 3,588,251 shares during the period. 67.57% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Johnson & Johnson news, EVP Kathryn E. Wengel sold 12,465 shares of the firm’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 directly owns 65,934 shares of the company’s stock, valued at approximately $10,549,440. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, EVP Kathryn E. Wengel sold 12,465 shares of the stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $160.00, for a total transaction of $1,994,400.00. Following the transaction, the executive vice president now directly owns 65,934 shares in the company, valued at approximately $10,549,440. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Peter Fasolo sold 20,000 shares of the stock in a transaction dated 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 transaction, the vice president now owns 102,696 shares in the company, valued at $17,491,182.72. The disclosure for this sale can be found here. Insiders have sold a total of 47,163 shares of company stock valued at $7,928,856 in the last quarter. 0.20% of the stock is currently owned by company insiders.

Johnson & Johnson Stock Up 1.0 %

Shares of NYSE JNJ opened at $173.85 on Monday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.12 and a quick ratio of 0.88. The firm’s 50-day moving average is $164.90 and its two-hundred day moving average is $161.14. Johnson & Johnson has a 12-month low of $150.11 and a 12-month high of $181.04. The company has a market capitalization of $451.83 billion, a PE ratio of 35.19, a price-to-earnings-growth ratio of 2.92 and a beta of 0.54.

Johnson & Johnson (NYSE:JNJ – Get Free Report) last posted its quarterly earnings data on Thursday, July 20th. The company reported $2.80 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 firm had revenue of $25.53 billion during the quarter, compared to analysts’ expectations of $24.63 billion. During the same quarter last year, the business posted $2.59 EPS. The firm’s quarterly revenue was up 6.3% compared to the same quarter last year. Equities analysts anticipate that Johnson & Johnson will post 10.75 EPS for the current fiscal year.

Johnson & Johnson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 7th. Shareholders of record on Monday, August 28th will be paid a $1.19 dividend. The ex-dividend date is Friday, August 25th. This represents a $4.76 annualized dividend and a yield of 2.74%. Johnson & Johnson’s payout ratio is currently 96.36%.

Analyst Ratings Changes

JNJ has been the subject of a number of research reports. Credit Suisse Group upped their price objective on shares of Johnson & Johnson from $170.00 to $175.00 and gave the stock a “neutral” rating in a research note on Friday, July 21st. Raymond James lifted their price objective on shares of Johnson & Johnson from $181.00 to $184.00 and gave the company an “outperform” rating in a report on Monday, July 24th. Atlantic Securities raised their price target on shares of Johnson & Johnson from $167.00 to $170.00 and gave the company a “neutral” rating in a report on Friday, August 4th. Citigroup began coverage on Johnson & Johnson in a research note on Tuesday, May 30th. They set a “buy” rating and a $185.00 target price on the stock. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $215.00 target price on shares of Johnson & Johnson in a research report on Monday, July 31st. Eight equities 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. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $171.80.

Read Our Latest Report on JNJ

Johnson & Johnson Company 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.