Johnson & Johnson (NYSE:JNJ) Position Reduced by Pittenger & Anderson Inc.

Posted by Defense World Staff on Aug 27th, 2023

Pittenger & Anderson Inc. cut its position in shares of Johnson & Johnson (NYSE:JNJ – Free Report) by 1.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 81,994 shares of the company’s stock after selling 1,063 shares during the quarter. Pittenger & Anderson Inc.’s holdings in Johnson & Johnson were worth $12,709,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. GW&K Investment Management LLC acquired a new position in shares of Johnson & Johnson in the 4th quarter valued at about $35,000. Dark Forest Capital Management LP increased its holdings in shares of Johnson & Johnson by 1,044.4% in the 4th quarter. Dark Forest Capital Management LP now owns 206 shares of the company’s stock valued at $36,000 after purchasing an additional 188 shares during the period. Ruedi Wealth Management Inc. acquired a new position in shares of Johnson & Johnson in the 4th quarter valued at about $42,000. Kepos Capital LP acquired a new position in Johnson & Johnson in the fourth quarter worth approximately $45,000. Finally, 25 LLC acquired a new position in Johnson & Johnson in the first quarter worth approximately $55,000. Institutional investors and hedge funds own 67.57% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on JNJ. JPMorgan Chase & Co. increased their price objective on Johnson & Johnson from $175.00 to $180.00 and gave the stock a “neutral” rating in a report on Friday, July 21st. Cantor Fitzgerald restated an “overweight” rating and issued a $215.00 price objective on shares of Johnson & Johnson in a report on Tuesday, August 22nd. TheStreet upgraded Johnson & Johnson from a “c+” rating to a “b+” rating in a report on Monday, August 21st. Raymond James increased their price objective on Johnson & Johnson from $181.00 to $184.00 and gave the stock an “outperform” rating in a report on Monday, July 24th. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $187.00 price target on shares of Johnson & Johnson in a report on Friday, July 21st. Eight analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Johnson & Johnson currently has a consensus rating of “Hold” and an average price target of $171.80.

View Our Latest Stock Analysis on JNJ

Insider Buying and Selling

In related news, EVP Kathryn E. Wengel sold 12,465 shares of the firm’s stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 65,934 shares of the company’s stock, valued at $10,549,440. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Johnson & Johnson news, VP Peter Fasolo sold 20,000 shares of Johnson & Johnson stock in a transaction on 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 completion of the transaction, the vice president now directly owns 102,696 shares of the company’s stock, valued at $17,491,182.72. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Kathryn E. Wengel sold 12,465 shares of Johnson & Johnson stock in a transaction on Monday, June 12th. The shares were sold at an average price of $160.00, for a total value of $1,994,400.00. Following the transaction, the executive vice president now directly owns 65,934 shares of the company’s stock, valued at $10,549,440. 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 over the last ninety days. 0.20% of the stock is owned by company insiders.

Johnson & Johnson Stock Up 1.4 %

JNJ opened at $166.25 on Friday. Johnson & Johnson has a 1-year low of $150.11 and a 1-year high of $181.04. 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 stock has a market capitalization of $432.08 billion, a price-to-earnings ratio of 33.65, a P/E/G ratio of 2.77 and a beta of 0.54. The business has a 50 day moving average of $166.68 and a 200-day moving average of $161.48.

Johnson & Johnson (NYSE:JNJ – Get Free Report) last posted its quarterly earnings data 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 company had revenue of $25.53 billion during the quarter, compared to analysts’ expectations of $24.63 billion. Johnson & Johnson had a return on equity of 36.72% and a net margin of 13.35%. Johnson & Johnson’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same period in the prior year, the business earned $2.59 earnings per share. As a group, sell-side analysts anticipate that Johnson & Johnson will post 10.75 earnings per share for the current year.

Johnson & Johnson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 7th. Investors of record on Monday, August 28th will be given a $1.19 dividend. The ex-dividend date of this dividend is Friday, August 25th. This represents a $4.76 annualized dividend and a yield of 2.86%. Johnson & Johnson’s dividend payout ratio (DPR) 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.