Robertson Stephens Wealth Management LLC Has $4.06 Million Stake in Johnson & Johnson (NYSE:JNJ)

Posted by Defense World Staff on Aug 30th, 2023

Robertson Stephens Wealth Management LLC increased its stake in Johnson & Johnson (NYSE:JNJ – Free Report) by 9.8% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 26,170 shares of the company’s stock after purchasing an additional 2,327 shares during the quarter. Robertson Stephens Wealth Management LLC’s holdings in Johnson & Johnson were worth $4,056,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Three Bridge Wealth Advisors LLC lifted its holdings in Johnson & Johnson by 52.2% in the 1st quarter. Three Bridge Wealth Advisors LLC now owns 7,064 shares of the company’s stock worth $1,095,000 after purchasing an additional 2,423 shares during the last quarter. Mount Yale Investment Advisors LLC lifted its holdings in Johnson & Johnson by 3.7% in the 1st quarter. Mount Yale Investment Advisors LLC now owns 28,105 shares of the company’s stock worth $4,356,000 after purchasing an additional 1,000 shares during the last quarter. Commonwealth Equity Services LLC increased its position in Johnson & Johnson by 1.8% in the 1st quarter. Commonwealth Equity Services LLC now owns 1,801,013 shares of the company’s stock worth $279,157,000 after buying an additional 31,827 shares during the period. Marco Investment Management LLC increased its position in Johnson & Johnson by 0.5% in the 1st quarter. Marco Investment Management LLC now owns 33,467 shares of the company’s stock worth $5,187,000 after buying an additional 166 shares during the period. Finally, Burgundy Asset Management Ltd. increased its position in Johnson & Johnson by 44.3% in the 1st quarter. Burgundy Asset Management Ltd. now owns 1,246,550 shares of the company’s stock worth $193,215,000 after buying an additional 382,744 shares during the period. 68.40% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, VP Peter Fasolo sold 20,000 shares of the 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 completion of the transaction, the vice president now directly owns 102,696 shares in the company, valued at $17,491,182.72. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, insider William Hait sold 14,698 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 87,747 shares of the company’s stock, valued at $15,092,484. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Peter Fasolo sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $170.32, for a total value of $3,406,400.00. Following the completion of the sale, the vice president now directly owns 102,696 shares of the company’s stock, valued at $17,491,182.72. The disclosure for this sale can be found here. Over the last three months, insiders sold 47,163 shares of company stock worth $7,928,856. 0.20% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

JNJ has been the topic of several recent analyst reports. Atlantic Securities lifted their price target 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 initiated coverage on Johnson & Johnson in a research report on Tuesday, May 30th. They issued a “buy” rating and a $185.00 price target on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $215.00 price target on shares of Johnson & Johnson in a research report on Tuesday, August 22nd. Morgan Stanley reaffirmed an “equal weight” rating and issued a $187.00 price target on shares of Johnson & Johnson in a research report on Friday, July 21st. Finally, JPMorgan Chase & Co. boosted their price objective on Johnson & Johnson from $175.00 to $180.00 and gave the company a “neutral” rating in a research report on Friday, July 21st. Eight research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $171.80.

View Our Latest Report on Johnson & Johnson

Johnson & Johnson Trading Up 0.0 %

NYSE JNJ opened at $164.31 on Wednesday. The stock has a 50-day simple moving average of $166.68 and a 200 day simple moving average of $161.50. The company has a market capitalization of $427.04 billion, a PE ratio of 33.26, a P/E/G ratio of 2.76 and a beta of 0.54. The company has a current ratio of 1.12, a quick ratio of 0.88 and a debt-to-equity ratio of 0.44. Johnson & Johnson has a 12 month low of $150.11 and a 12 month high of $181.04.

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 during the quarter, compared to the consensus estimate of $24.63 billion. During the same quarter in the prior year, the company posted $2.59 earnings per share. The firm’s revenue was up 6.3% on a year-over-year basis. Research analysts forecast that Johnson & Johnson will post 10.75 EPS for the current year.

Johnson & Johnson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 7th. Shareholders 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 annualized dividend and a dividend yield of 2.90%. 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.