Johnson & Johnson (NYSE:JNJ) Shares Purchased by Laurel Wealth Advisors LLC

Posted by Defense World Staff on Aug 16th, 2023

Laurel Wealth Advisors LLC boosted its position in Johnson & Johnson (NYSE:JNJ – Free Report) by 5.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 60,907 shares of the company’s stock after purchasing an additional 3,163 shares during the period. Johnson & Johnson comprises approximately 2.0% of Laurel Wealth Advisors LLC’s holdings, making the stock its 9th largest position. Laurel Wealth Advisors LLC’s holdings in Johnson & Johnson were worth $9,440,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC lifted its position in shares of Johnson & Johnson by 0.9% during the 1st quarter. Nisa Investment Advisors LLC now owns 748,842 shares of the company’s stock valued at $116,071,000 after acquiring an additional 6,836 shares during the period. Vaughan Nelson Investment Management L.P. lifted its position in shares of Johnson & Johnson by 21.8% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 903,546 shares of the company’s stock valued at $140,050,000 after acquiring an additional 161,687 shares during the period. Scotia Capital Inc. lifted its position in shares of Johnson & Johnson by 1.6% during the 4th quarter. Scotia Capital Inc. now owns 1,105,147 shares of the company’s stock valued at $195,247,000 after acquiring an additional 17,440 shares during the period. Wisconsin Capital Management LLC lifted its position in shares of Johnson & Johnson by 0.8% during the 1st quarter. Wisconsin Capital Management LLC now owns 15,723 shares of the company’s stock valued at $2,437,000 after acquiring an additional 127 shares during the period. Finally, Boyar Asset Management Inc. lifted its position in shares of Johnson & Johnson by 1.1% during the 1st quarter. Boyar Asset Management Inc. now owns 19,191 shares of the company’s stock valued at $2,975,000 after acquiring an additional 201 shares during the period. Institutional investors and hedge funds own 67.57% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on JNJ shares. Cantor Fitzgerald reissued an “overweight” rating and set a $215.00 price objective on shares of Johnson & Johnson in a research note on Monday, July 31st. Barclays raised their price objective on shares of Johnson & Johnson from $171.00 to $175.00 and gave the stock an “equal weight” rating in a research note on Monday, July 24th. Atlantic Securities lifted their target price on shares of Johnson & Johnson from $167.00 to $170.00 and gave the stock a “neutral” rating in a research note on Friday, August 4th. Credit Suisse Group lifted their target price 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. Finally, Stifel Nicolaus lifted their target price on shares of Johnson & Johnson from $165.00 to $175.00 in a research note on Friday, July 21st. Eight 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 stock. According to data from MarketBeat, Johnson & Johnson currently has a consensus rating of “Hold” and an average target price of $171.80.

Check Out Our Latest Research Report on JNJ

Insider Buying and Selling at Johnson & Johnson

In other Johnson & Johnson news, VP Peter Fasolo sold 20,000 shares of the company’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 completion of the transaction, the vice president now directly owns 102,696 shares of the company’s stock, valued at approximately $17,491,182.72. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, VP Peter Fasolo sold 20,000 shares of the stock in a transaction dated Tuesday, July 25th. The shares were 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 of the company’s stock, valued at $17,491,182.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider William Hait sold 14,698 shares of the stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $172.00, for a total transaction of $2,528,056.00. Following 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 sold a total of 47,163 shares of company stock valued at $7,928,856 in the last ninety days. Insiders own 0.20% of the company’s stock.

Johnson & Johnson Stock Performance

NYSE:JNJ opened at $172.92 on Wednesday. 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 firm has a market capitalization of $449.41 billion, a price-to-earnings ratio of 35.00, a PEG ratio of 2.92 and a beta of 0.54. The firm’s fifty day simple moving average is $165.50 and its 200 day simple moving average is $161.20. Johnson & Johnson has a twelve month low of $150.11 and a twelve month high of $181.04.

Johnson & Johnson (NYSE:JNJ – Get Free Report) last posted its earnings results on Thursday, July 20th. The company reported $2.80 earnings per share for the quarter, beating the consensus estimate of $2.62 by $0.18. The business had revenue of $25.53 billion for the quarter, compared to analyst estimates of $24.63 billion. Johnson & Johnson had a net margin of 13.35% and a return on equity of 36.72%. The business’s quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.59 EPS. As a group, equities research analysts expect that Johnson & Johnson will post 10.75 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 7th. Shareholders of record on Monday, August 28th will be given a $1.19 dividend. 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 payout ratio is currently 96.36%.

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.