Johnson & Johnson (NYSE:JNJ) Holdings Reduced by TFC Financial Management Inc.

Posted by Defense World Staff on Aug 15th, 2023

TFC Financial Management Inc. cut its holdings in Johnson & Johnson (NYSE:JNJ – Free Report) by 0.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 55,990 shares of the company’s stock after selling 466 shares during the period. Johnson & Johnson accounts for 2.2% of TFC Financial Management Inc.’s holdings, making the stock its 6th biggest holding. TFC Financial Management Inc.’s holdings in Johnson & Johnson were worth $8,678,000 as of its most recent SEC filing.

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

Johnson & Johnson Price Performance

JNJ opened at $173.46 on Tuesday. Johnson & Johnson has a 12-month low of $150.11 and a 12-month high of $181.04. 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 200-day simple moving average is $161.17. The company has a market capitalization of $450.82 billion, a price-to-earnings ratio of 35.11, a PEG ratio of 2.92 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 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 for the quarter, compared to the consensus estimate of $24.63 billion. During the same quarter in the prior year, the company earned $2.59 EPS. The business’s revenue was up 6.3% compared to the same quarter last year. On average, equities research analysts anticipate that Johnson & Johnson will post 10.75 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 7th. Investors of record on Monday, August 28th will be paid 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 dividend payout ratio (DPR) is currently 96.36%.

Insider Buying and Selling

In related 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 completion of the sale, 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. In related 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 completion of the sale, 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 document filed with the Securities & Exchange Commission, which is available at 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 value of $3,406,400.00. Following the sale, 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 analysts recently weighed in on JNJ shares. Credit Suisse Group increased their price target on Johnson & Johnson from $170.00 to $175.00 and gave the company a “neutral” rating in a report on Friday, July 21st. Morgan Stanley restated an “equal weight” rating and set a $187.00 price target on shares of Johnson & Johnson in a report on Friday, July 21st. Cantor Fitzgerald restated an “overweight” rating and set a $215.00 price target on shares of Johnson & Johnson in a report on Monday, July 31st. 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 report on Monday, July 24th. Finally, Stifel Nicolaus upped their price objective on Johnson & Johnson from $165.00 to $175.00 in a research report on Friday, July 21st. Eight investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $171.80.

Check Out Our Latest Research Report 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.