D L Carlson Investment Group Inc. Cuts Stake in Johnson & Johnson (NYSE:JNJ)

Posted by Defense World Staff on Sep 13th, 2023

D L Carlson Investment Group Inc. decreased its stake in shares of Johnson & Johnson (NYSE:JNJ – Free Report) by 13.4% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 50,773 shares of the company’s stock after selling 7,863 shares during the quarter. Johnson & Johnson comprises about 1.8% of D L Carlson Investment Group Inc.’s portfolio, making the stock its 13th largest holding. D L Carlson Investment Group Inc.’s holdings in Johnson & Johnson were worth $7,870,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Atlantic Private Wealth LLC bought a new stake in shares of Johnson & Johnson in the 1st quarter worth about $32,000. GW&K Investment Management LLC bought a new position in shares of Johnson & Johnson during the 4th quarter valued at approximately $35,000. Dark Forest Capital Management LP raised its holdings in Johnson & Johnson by 1,044.4% during the 4th quarter. Dark Forest Capital Management LP now owns 206 shares of the company’s stock valued at $36,000 after buying an additional 188 shares during the period. Ruedi Wealth Management Inc. bought a new stake in Johnson & Johnson in the fourth quarter worth $42,000. Finally, Kepos Capital LP purchased a new position in Johnson & Johnson during the fourth quarter worth $45,000. 68.40% of the stock is owned by hedge funds and other institutional investors.

Johnson & Johnson Stock Performance

Shares of Johnson & Johnson stock opened at $163.64 on Wednesday. The company has a market capitalization of $425.30 billion, a PE ratio of 33.13, a P/E/G ratio of 3.47 and a beta of 0.54. The company has a 50-day simple moving average of $166.10 and a two-hundred day simple moving average of $161.64. Johnson & Johnson has a one year low of $150.11 and a one year high of $181.04. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.88 and a current ratio of 1.12.

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, topping the consensus estimate of $2.62 by $0.18. The firm had revenue of $25.53 billion during the quarter, compared to analyst estimates of $24.63 billion. Johnson & Johnson had a net margin of 13.35% and a return on equity of 36.72%. Johnson & Johnson’s revenue was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.59 EPS. Research analysts expect that Johnson & Johnson will post 10.03 EPS for the current fiscal year.

Johnson & Johnson Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 7th. Investors of record on Monday, August 28th were paid a dividend of $1.19 per share. The ex-dividend date of this dividend was Friday, August 25th. This represents a $4.76 annualized dividend and a yield of 2.91%. Johnson & Johnson’s dividend payout ratio (DPR) is 96.36%.

Insider Buying and Selling at Johnson & Johnson

In other 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 transaction of $2,528,056.00. Following the sale, the insider now owns 87,747 shares in the company, valued at $15,092,484. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Johnson & Johnson news, insider William Hait sold 14,698 shares of the firm’s stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $172.00, for a total value of $2,528,056.00. Following the completion of the transaction, the insider now owns 87,747 shares of the company’s stock, valued at $15,092,484. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Peter Fasolo sold 20,000 shares of the business’s stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $170.32, for a total transaction of $3,406,400.00. Following the sale, the vice president now directly owns 102,696 shares in the company, valued at $17,491,182.72. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Atlantic Securities raised their target price on shares of Johnson & Johnson from $167.00 to $170.00 and gave the stock a “neutral” rating in a report on Friday, August 4th. Morgan Stanley cut their target price on Johnson & Johnson from $187.00 to $172.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 31st. Stifel Nicolaus raised their price target on Johnson & Johnson from $165.00 to $175.00 in a research note on Friday, July 21st. StockNews.com downgraded Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 8th. Finally, Credit Suisse Group lifted their target price on Johnson & Johnson from $170.00 to $175.00 and gave the stock a “neutral” rating in a research report on Friday, July 21st. Nine research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $170.65.

Check Out Our Latest Analysis on Johnson & Johnson

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.