Woodmont Investment Counsel LLC Raises Stock Holdings in Johnson & Johnson (NYSE:JNJ)

Posted by Defense World Staff on Aug 21st, 2023

Woodmont Investment Counsel LLC raised its position in shares of Johnson & Johnson (NYSE:JNJ – Free Report) by 4.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 75,563 shares of the company’s stock after acquiring an additional 3,072 shares during the period. Johnson & Johnson makes up approximately 1.2% of Woodmont Investment Counsel LLC’s holdings, making the stock its 23rd biggest holding. Woodmont Investment Counsel LLC’s holdings in Johnson & Johnson were worth $11,712,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. GW&K Investment Management LLC purchased a new stake in Johnson & Johnson during the 4th quarter valued at $35,000. Dark Forest Capital Management LP raised its holdings in Johnson & Johnson by 1,044.4% during the 4th quarter. Dark Forest Capital Management LP now owns 206 shares of the company’s stock valued at $36,000 after buying an additional 188 shares during the period. Ruedi Wealth Management Inc. purchased a new stake in Johnson & Johnson during the 4th quarter valued at $42,000. Kepos Capital LP purchased a new stake in Johnson & Johnson during the 4th quarter valued at $45,000. Finally, FWL Investment Management LLC purchased a new stake in Johnson & Johnson during the 4th quarter valued at $114,000. 67.57% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Johnson & Johnson

In other news, EVP Kathryn E. Wengel sold 12,465 shares of the business’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 sale, the executive vice president now 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 is available through this hyperlink. In other news, VP Peter Fasolo sold 20,000 shares of the business’s 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 sale, the vice president now owns 102,696 shares in the company, valued at $17,491,182.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Kathryn E. Wengel sold 12,465 shares of the business’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 owns 65,934 shares in the company, valued at approximately $10,549,440. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 47,163 shares of company stock worth $7,928,856. Insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on JNJ. Morgan Stanley reiterated an “equal weight” rating and set a $187.00 target price on shares of Johnson & Johnson in a research report on Friday, July 21st. TheStreet downgraded Johnson & Johnson from a “b” rating to a “c+” rating in a research report on Friday, May 19th. Atlantic Securities lifted their target price on Johnson & Johnson from $167.00 to $170.00 and gave the stock a “neutral” rating in a research report on Friday, August 4th. Citigroup began coverage on Johnson & Johnson in a research report on Tuesday, May 30th. They set a “buy” rating and a $185.00 target price for the company. Finally, Raymond James lifted their target price on Johnson & Johnson from $181.00 to $184.00 and gave the stock an “outperform” rating in a research report on Monday, July 24th. Eight equities research 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 stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $171.80.

Check Out Our Latest Report on Johnson & Johnson

Johnson & Johnson Price Performance

JNJ opened at $172.49 on Monday. The business’s 50-day moving average is $166.30 and its two-hundred day moving average is $161.41. Johnson & Johnson has a 1 year low of $150.11 and a 1 year high of $181.04. 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 has a market capitalization of $448.30 billion, a PE ratio of 34.92, a price-to-earnings-growth ratio of 2.89 and a beta of 0.54.

Johnson & Johnson (NYSE:JNJ – Get Free Report) last posted its earnings results 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 return on equity of 36.72% and a net margin of 13.35%. The company had revenue of $25.53 billion for the quarter, compared to analyst estimates of $24.63 billion. During the same quarter in the previous year, the firm earned $2.59 earnings per share. The firm’s quarterly revenue was up 6.3% compared to the same quarter last year. Research analysts anticipate that Johnson & Johnson will post 10.75 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

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 paid a dividend of $1.19 per share. The ex-dividend date of this dividend is Friday, August 25th. This represents a $4.76 dividend on an annualized basis and a dividend yield of 2.76%. Johnson & Johnson’s payout ratio is 96.36%.

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.