MAI Capital Management Sells 24,091 Shares of Johnson & Johnson (NYSE:JNJ)

Posted by Defense World Staff on Aug 26th, 2023

MAI Capital Management decreased its holdings in shares of Johnson & Johnson (NYSE:JNJ – Free Report) by 6.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 357,978 shares of the company’s stock after selling 24,091 shares during the quarter. Johnson & Johnson makes up about 0.9% of MAI Capital Management’s holdings, making the stock its 26th biggest position. MAI Capital Management’s holdings in Johnson & Johnson were worth $55,487,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. GW&K Investment Management LLC bought a new stake in Johnson & Johnson during the fourth quarter worth approximately $35,000. Dark Forest Capital Management LP boosted its holdings in shares of Johnson & Johnson by 1,044.4% during the 4th quarter. Dark Forest Capital Management LP now owns 206 shares of the company’s stock worth $36,000 after buying an additional 188 shares during the period. Ruedi Wealth Management Inc. acquired a new position in Johnson & Johnson in the 4th quarter valued at $42,000. Kepos Capital LP bought a new position in Johnson & Johnson in the 4th quarter worth $45,000. Finally, 25 LLC bought a new stake in Johnson & Johnson during the first quarter valued at about $55,000. Institutional investors own 67.57% of the company’s stock.

Insider Activity

In other Johnson & Johnson news, insider William Hait sold 14,698 shares of the company’s stock in a transaction on 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 owns 87,747 shares of the company’s stock, valued at approximately $15,092,484. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, EVP Kathryn E. Wengel sold 12,465 shares of Johnson & Johnson 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 in the company, valued at $10,549,440. The sale was disclosed in a filing with the SEC, which is available 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 transaction of $2,528,056.00. Following the transaction, the insider now owns 87,747 shares in the company, valued at $15,092,484. The disclosure for this sale can be found here. Insiders have sold 47,163 shares of company stock valued at $7,928,856 over the last three months. 0.20% of the stock is owned by insiders.

Wall Street Analyst Weigh In

JNJ has been the subject of several research analyst reports. Stifel Nicolaus boosted their price objective on Johnson & Johnson from $165.00 to $175.00 in a research report on Friday, July 21st. TheStreet upgraded Johnson & Johnson from a “c+” rating to a “b+” rating in a report on Monday. JPMorgan Chase & Co. boosted their target price on shares of Johnson & Johnson from $175.00 to $180.00 and gave the stock a “neutral” rating in a research report on Friday, July 21st. Barclays increased their price target on shares of Johnson & Johnson from $171.00 to $175.00 and gave the company an “equal weight” rating in a report on Monday, July 24th. Finally, StockNews.com started coverage on shares of Johnson & Johnson in a report 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 given a strong buy rating to the stock. Based on data from MarketBeat, Johnson & Johnson currently has an average rating of “Hold” and a consensus target price of $171.80.

View Our Latest Analysis on Johnson & Johnson

Johnson & Johnson Stock Up 1.4 %

NYSE JNJ opened at $166.25 on Friday. The stock’s 50 day simple moving average is $166.68 and its 200 day simple moving average is $161.50. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.12 and a quick ratio of 0.88. Johnson & Johnson has a one year low of $150.11 and a one year high of $181.04. The firm has a market cap of $432.08 billion, a PE ratio of 33.65, a price-to-earnings-growth ratio of 2.76 and a beta of 0.54.

Johnson & Johnson (NYSE:JNJ – Get Free Report) last announced its earnings results on Thursday, July 20th. The company reported $2.80 earnings per share 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 company had revenue of $25.53 billion during the quarter, compared to analyst estimates of $24.63 billion. During the same period last year, the company posted $2.59 earnings per share. The firm’s quarterly revenue was up 6.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Johnson & Johnson will post 10.75 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 7th. Stockholders of record on Monday, August 28th will be given 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 2.86%. Johnson & Johnson’s payout ratio is 96.36%.

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.