Jag Capital Management LLC Cuts Stock Position in Johnson & Johnson (NYSE:JNJ)

Posted by Defense World Staff on Aug 24th, 2023

Jag Capital Management LLC trimmed its position in shares of Johnson & Johnson (NYSE:JNJ – Free Report) by 25.0% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,902 shares of the company’s stock after selling 1,967 shares during the quarter. Jag Capital Management LLC’s holdings in Johnson & Johnson were worth $915,000 as of its most recent filing with the SEC.

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

Insider Activity at Johnson & Johnson

In related news, EVP Kathryn E. Wengel sold 12,465 shares of the company’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 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 legal filing with the SEC, which can be accessed through the SEC website. In related news, EVP Kathryn E. Wengel sold 12,465 shares of the company’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 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 legal filing with the SEC, which can be accessed through the SEC website. Also, insider William Hait sold 14,698 shares of the company’s 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 sale, the insider now directly owns 87,747 shares of the company’s stock, valued at $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 three months. 0.20% of the stock is currently owned by company insiders.

Johnson & Johnson Trading Down 0.9 %

JNJ opened at $164.54 on Thursday. Johnson & Johnson has a one year low of $150.11 and a one year high of $181.04. The company has a market cap of $427.63 billion, a P/E ratio of 33.31, a PEG ratio of 2.81 and a beta of 0.54. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.88 and a current ratio of 1.12. The business’s 50-day simple moving average is $166.61 and its 200-day simple moving average is $161.45.

Johnson & Johnson (NYSE:JNJ – Get Free Report) last released its quarterly earnings data on Thursday, July 20th. The company reported $2.80 EPS for the quarter, beating 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 business posted $2.59 EPS. The business’s revenue for the quarter was up 6.3% on a year-over-year basis. As a group, equities research analysts expect that Johnson & Johnson will post 10.75 EPS for the current fiscal year.

Johnson & Johnson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 7th. Stockholders of record on Monday, August 28th will be issued a $1.19 dividend. The ex-dividend date is Friday, August 25th. This represents a $4.76 dividend on an annualized basis and a dividend yield of 2.89%. Johnson & Johnson’s payout ratio is currently 96.36%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on JNJ shares. Stifel Nicolaus boosted their price objective on Johnson & Johnson from $165.00 to $175.00 in a research note on Friday, July 21st. JPMorgan Chase & Co. upped their price target on Johnson & Johnson from $175.00 to $180.00 and gave the company a “neutral” rating in a research note on Friday, July 21st. TheStreet raised Johnson & Johnson from a “c+” rating to a “b+” rating in a research note on Monday. Barclays increased their target price on Johnson & Johnson from $171.00 to $175.00 and gave the stock an “equal weight” rating in a research note on Monday, July 24th. Finally, StockNews.com assumed coverage on Johnson & Johnson in a research note on Thursday, August 17th. They set a “strong-buy” rating on the stock. Eight research 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.com, Johnson & Johnson presently has a consensus rating of “Hold” and an average target price of $171.80.

Get Our Latest Stock Analysis 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.