Ossiam Grows Position in Johnson & Johnson (NYSE:JNJ)

Posted by Defense World Staff on Sep 10th, 2023

Ossiam increased its position in shares of Johnson & Johnson (NYSE:JNJ – Free Report) by 19.6% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 30,902 shares of the company’s stock after buying an additional 5,069 shares during the quarter. Ossiam’s holdings in Johnson & Johnson were worth $4,790,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. DORCHESTER WEALTH MANAGEMENT Co lifted its holdings in shares of Johnson & Johnson by 8.6% in the 1st quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 67,618 shares of the company’s stock valued at $14,975,000 after buying an additional 5,327 shares during the period. Cantor Fitzgerald Investment Advisor L.P raised its holdings 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 purchasing an additional 82,429 shares during the last quarter. AMI Investment Management Inc. raised its holdings 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 purchasing an additional 1,475 shares during the last quarter. Equitable Holdings Inc. raised its holdings 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 purchasing an additional 2,119 shares during the last quarter. Finally, USS Investment Management Ltd raised its holdings 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 purchasing an additional 20,528 shares during the last quarter. Hedge funds and other institutional investors own 68.40% of the company’s stock.

Johnson & Johnson Price Performance

JNJ stock opened at $160.56 on Friday. The stock has a 50-day moving average price of $166.11 and a two-hundred day moving average price of $161.52. Johnson & Johnson has a 12-month low of $150.11 and a 12-month 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 company has a market cap of $417.29 billion, a PE ratio of 32.50, a price-to-earnings-growth ratio of 3.47 and a beta of 0.54.

Johnson & Johnson (NYSE:JNJ – Get Free Report) last posted its quarterly earnings results on Thursday, July 20th. The company reported $2.80 earnings per share (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 firm had revenue of $25.53 billion during the quarter, compared to the consensus estimate of $24.63 billion. During the same quarter in the previous year, the business earned $2.59 earnings per share. The firm’s quarterly revenue was up 6.3% compared to the same quarter last year. As a group, research analysts predict that Johnson & Johnson will post 10.03 EPS for the current year.

Johnson & Johnson Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 7th. Stockholders of record on Monday, August 28th were given a $1.19 dividend. This represents a $4.76 annualized dividend and a dividend yield of 2.96%. The ex-dividend date of this dividend was Friday, August 25th. Johnson & Johnson’s payout ratio is 96.36%.

Insider Transactions at Johnson & Johnson

In other 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 owns 65,934 shares of the company’s stock, valued at $10,549,440. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, insider William Hait sold 14,698 shares of the business’s stock in a transaction dated 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 transaction, the insider now owns 87,747 shares in the company, valued at $15,092,484. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Kathryn E. Wengel sold 12,465 shares of the business’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 transaction, the executive vice president now owns 65,934 shares in the company, valued at approximately $10,549,440. The disclosure for this sale can be found here. Insiders sold 47,163 shares of company stock valued at $7,928,856 over the last quarter. Company insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on JNJ. Atlantic Securities lifted their price objective on Johnson & Johnson from $167.00 to $170.00 and gave the stock a “neutral” rating in a report on Friday, August 4th. Raymond James cut their price target on Johnson & Johnson from $184.00 to $179.00 and set an “outperform” rating for the company in a report on Tuesday, September 5th. TheStreet raised Johnson & Johnson from a “c+” rating to a “b+” rating in a report on Monday, August 21st. Cantor Fitzgerald reissued an “overweight” rating and issued a $215.00 price target on shares of Johnson & Johnson in a report on Thursday, August 31st. Finally, Credit Suisse Group boosted their price target on Johnson & Johnson from $170.00 to $175.00 and gave the stock a “neutral” rating in a report on Friday, July 21st. Nine equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $170.65.

View Our Latest Stock Report on Johnson & Johnson

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.