Brooktree Capital Management Raises Holdings in Johnson & Johnson (NYSE:JNJ)

Posted by Defense World Staff on Aug 16th, 2023

Brooktree Capital Management increased its holdings in Johnson & Johnson (NYSE:JNJ – Free Report) by 0.4% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 33,550 shares of the company’s stock after acquiring an additional 138 shares during the period. Johnson & Johnson makes up about 4.0% of Brooktree Capital Management’s holdings, making the stock its 11th largest holding. Brooktree Capital Management’s holdings in Johnson & Johnson were worth $5,200,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. Reston Wealth Management LLC lifted its stake in Johnson & Johnson by 4.4% during the first quarter. Reston Wealth Management LLC now owns 1,652 shares of the company’s stock worth $256,000 after purchasing an additional 70 shares in the last quarter. HC Advisors LLC raised its stake in shares of Johnson & Johnson by 15.9% in the first quarter. HC Advisors LLC now owns 2,104 shares of the company’s stock valued at $326,000 after acquiring an additional 288 shares in the last quarter. Cambiar Investors LLC acquired a new stake in shares of Johnson & Johnson in the first quarter valued at $39,023,000. Laurel Wealth Advisors LLC raised its stake in Johnson & Johnson by 5.5% in the first quarter. Laurel Wealth Advisors LLC now owns 60,907 shares of the company’s stock valued at $9,440,000 after buying an additional 3,163 shares in the last quarter. Finally, Live Oak Private Wealth LLC raised its stake in Johnson & Johnson by 3.9% in the first quarter. Live Oak Private Wealth LLC now owns 8,071 shares of the company’s stock valued at $1,251,000 after buying an additional 300 shares in the last quarter. 67.57% of the stock is currently owned by institutional investors and hedge funds.

Johnson & Johnson Stock Down 0.3 %

Shares of NYSE JNJ opened at $172.92 on Wednesday. Johnson & Johnson has a 52-week low of $150.11 and a 52-week high of $181.04. The firm has a fifty day moving average of $165.50 and a 200-day moving average of $161.20. The stock has a market capitalization of $449.41 billion, a PE ratio of 35.00, a P/E/G ratio of 2.92 and a beta of 0.54. The company has a quick ratio of 0.88, a current ratio of 1.12 and a debt-to-equity ratio of 0.44.

Johnson & Johnson (NYSE:JNJ – Get Free Report) last announced its quarterly earnings data on Thursday, July 20th. The company reported $2.80 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analysts’ expectations of $24.63 billion. During the same period in the previous year, the company earned $2.59 EPS. The business’s quarterly revenue was up 6.3% compared to the same quarter last year. On average, analysts anticipate that Johnson & Johnson will post 10.75 EPS for the current year.

Johnson & Johnson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 7th. Investors of record on Monday, August 28th will be given 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 2.75%. Johnson & Johnson’s dividend payout ratio (DPR) is 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 shares were 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 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 the SEC website. In other 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 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 $10,549,440. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Peter Fasolo sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, July 25th. The shares were 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. In the last three months, insiders sold 47,163 shares of company stock valued at $7,928,856. Company insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on JNJ shares. Morgan Stanley reissued an “equal weight” rating and set a $187.00 price target on shares of Johnson & Johnson in a report on Friday, July 21st. Stifel Nicolaus lifted their price objective on Johnson & Johnson from $165.00 to $175.00 in a report on Friday, July 21st. Citigroup initiated coverage on shares of Johnson & Johnson in a research report on Tuesday, May 30th. They set a “buy” rating and a $185.00 price target for the company. Atlantic Securities lifted their price target on shares of Johnson & Johnson from $167.00 to $170.00 and gave the company a “neutral” rating in a research report on Friday, August 4th. Finally, TheStreet downgraded Johnson & Johnson from a “b” rating to a “c+” rating in a research report on Friday, May 19th. 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, Johnson & Johnson has an average rating of “Hold” and an average target price of $171.80.

Read Our Latest Stock Report on JNJ

About Johnson & Johnson

(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.