Gateway Wealth Partners LLC Boosts Stake in Johnson & Johnson (NYSE:JNJ)

Posted by Defense World Staff on Aug 27th, 2023

Gateway Wealth Partners LLC raised its holdings in Johnson & Johnson (NYSE:JNJ – Free Report) by 7.6% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,293 shares of the company’s stock after purchasing an additional 443 shares during the quarter. Gateway Wealth Partners LLC’s holdings in Johnson & Johnson were worth $975,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Moneta Group Investment Advisors LLC grew its stake in Johnson & Johnson by 90,144.4% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 54,386,720 shares of the company’s stock worth $9,607,414,000 after purchasing an additional 54,326,454 shares in the last quarter. Norges Bank acquired a new position in Johnson & Johnson during the 4th quarter worth $4,609,399,000. Morgan Stanley grew its stake in Johnson & Johnson by 12.0% during the 4th quarter. Morgan Stanley now owns 42,224,521 shares of the company’s stock worth $7,458,962,000 after purchasing an additional 4,521,062 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in Johnson & Johnson by 15.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 29,277,774 shares of the company’s stock worth $5,171,919,000 after purchasing an additional 3,849,148 shares in the last quarter. Finally, Savant Capital LLC grew its stake in Johnson & Johnson by 8,568.8% during the 4th quarter. Savant Capital LLC now owns 3,630,127 shares of the company’s stock worth $29,637,000 after purchasing an additional 3,588,251 shares in the last quarter. Hedge funds and other institutional investors own 67.57% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on JNJ shares. Cantor Fitzgerald reissued an “overweight” rating and set a $215.00 target price on shares of Johnson & Johnson in a research note on Tuesday, August 22nd. Raymond James upped their price objective on Johnson & Johnson from $181.00 to $184.00 and gave the stock an “outperform” rating in a research report on Monday, July 24th. Citigroup initiated coverage on Johnson & Johnson in a research report on Tuesday, May 30th. They set a “buy” rating and a $185.00 price objective for the company. Credit Suisse Group upped their price objective on Johnson & Johnson from $170.00 to $175.00 and gave the stock a “neutral” rating in a research report on Friday, July 21st. Finally, Stifel Nicolaus upped their price objective on Johnson & Johnson from $165.00 to $175.00 in a research report 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 company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $171.80.

Read Our Latest Report on Johnson & Johnson

Johnson & Johnson Stock Up 1.4 %

JNJ opened at $166.25 on Friday. The business has a 50 day moving average price of $166.68 and a two-hundred day moving average price of $161.48. The company has a quick ratio of 0.88, a current ratio of 1.12 and a debt-to-equity ratio of 0.44. The company has a market cap of $432.08 billion, a PE ratio of 33.65, a P/E/G ratio of 2.77 and a beta of 0.54. Johnson & Johnson has a 52 week low of $150.11 and a 52 week high of $181.04.

Johnson & Johnson (NYSE:JNJ – Get Free Report) last posted its quarterly earnings data on Thursday, July 20th. The company reported $2.80 EPS for the quarter, beating the consensus estimate of $2.62 by $0.18. The firm had revenue of $25.53 billion during the quarter, compared to the consensus estimate of $24.63 billion. Johnson & Johnson had a return on equity of 36.72% and a net margin of 13.35%. The firm’s revenue was up 6.3% compared to the same quarter last year. During the same period in the prior year, the business earned $2.59 EPS. As a group, research analysts anticipate that Johnson & Johnson will post 10.75 EPS for the current year.

Johnson & Johnson Announces Dividend

The firm also recently announced 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. This represents a $4.76 dividend on an annualized basis and a dividend yield of 2.86%. The ex-dividend date of this dividend is Friday, August 25th. Johnson & Johnson’s dividend payout ratio (DPR) is 96.36%.

Insider Transactions at Johnson & Johnson

In other news, EVP Kathryn E. Wengel sold 12,465 shares of the stock in a transaction that occurred on 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 transaction, 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 document filed with the SEC, which is accessible through this link. In related news, EVP Kathryn E. Wengel sold 12,465 shares of the company’s stock in a transaction that occurred on 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider William Hait sold 14,698 shares of the company’s stock in a transaction that occurred on Wednesday, July 26th. The stock was 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 owns 87,747 shares in the company, valued at approximately $15,092,484. 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. Corporate insiders own 0.20% of the company’s stock.

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.