Yacktman Asset Management LP Reduces Stake in Johnson & Johnson (NYSE:JNJ)

Posted by Defense World Staff on Aug 15th, 2023

Yacktman Asset Management LP decreased its stake in shares of Johnson & Johnson (NYSE:JNJ – Free Report) by 2.0% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 2,030,269 shares of the company’s stock after selling 41,790 shares during the period. Johnson & Johnson accounts for 3.1% of Yacktman Asset Management LP’s investment portfolio, making the stock its 11th largest position. Yacktman Asset Management LP owned about 0.08% of Johnson & Johnson worth $314,692,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in JNJ. Moneta Group Investment Advisors LLC raised its holdings in shares of Johnson & Johnson by 90,144.4% in 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 in the last quarter. Geode Capital Management LLC raised its holdings in shares of Johnson & Johnson by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 47,958,583 shares of the company’s stock valued at $8,456,643,000 after acquiring an additional 294,671 shares in the last quarter. Morgan Stanley raised its holdings in shares of Johnson & Johnson by 12.0% in the 4th quarter. Morgan Stanley now owns 42,224,521 shares of the company’s stock valued at $7,458,962,000 after acquiring an additional 4,521,062 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Johnson & Johnson by 15.1% in 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 acquiring an additional 3,849,148 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Johnson & Johnson in the 4th quarter valued at about $4,609,399,000. Hedge funds and other institutional investors own 67.57% of the company’s stock.

Insider Activity

In other news, EVP Kathryn E. Wengel sold 12,465 shares of the company’s stock in a transaction on Monday, June 12th. The stock was 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 of the company’s stock, valued at $10,549,440. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Johnson & Johnson 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 owns 65,934 shares of the company’s stock, valued at $10,549,440. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider William Hait sold 14,698 shares of the stock in a transaction dated 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 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 over the last ninety days. 0.20% of the stock is currently owned by corporate insiders.

Johnson & Johnson Trading Down 0.2 %

Johnson & Johnson stock opened at $173.46 on Tuesday. The company has a current ratio of 1.12, a quick ratio of 0.88 and a debt-to-equity ratio of 0.44. The business’s fifty day simple moving average is $165.20 and its two-hundred day simple moving average is $161.17. 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 $450.82 billion, a price-to-earnings ratio of 35.11, a price-to-earnings-growth ratio of 2.92 and a beta of 0.54.

Johnson & Johnson (NYSE:JNJ – Get Free Report) last released its earnings results on Thursday, July 20th. The company reported $2.80 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $24.63 billion. During the same period in the previous year, the company posted $2.59 earnings per share. The company’s revenue for the quarter was up 6.3% compared to the same quarter last year. As a group, equities analysts predict that Johnson & Johnson will post 10.75 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

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

Wall Street Analyst Weigh In

JNJ has been the topic of a number of research reports. StockNews.com initiated coverage on Johnson & Johnson in a report on Thursday, May 18th. They set a “strong-buy” rating on the stock. JPMorgan Chase & Co. raised their price objective on Johnson & Johnson from $175.00 to $180.00 and gave the company a “neutral” rating in a report on Friday, July 21st. Barclays raised their price objective on Johnson & Johnson from $171.00 to $175.00 and gave the company an “equal weight” rating in a report on Monday, July 24th. Atlantic Securities raised their price objective on Johnson & Johnson from $167.00 to $170.00 and gave the company a “neutral” rating in a report on Friday, August 4th. Finally, Morgan Stanley reissued an “equal weight” rating and set a $187.00 price objective on shares of Johnson & Johnson in a report on Friday, July 21st. Eight investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Johnson & Johnson presently has a consensus rating of “Hold” and an average price target of $171.80.

View Our Latest Stock Analysis on Johnson & Johnson

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.