Redhawk Wealth Advisors Inc. Raises Stake in Johnson & Johnson (NYSE:JNJ)

Posted by Defense World Staff on Sep 24th, 2023

Redhawk Wealth Advisors Inc. lifted its position in shares of Johnson & Johnson (NYSE:JNJ – Free Report) by 8.7% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 8,904 shares of the company’s stock after buying an additional 715 shares during the quarter. Redhawk Wealth Advisors Inc.’s holdings in Johnson & Johnson were worth $1,474,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Atlantic Private Wealth LLC acquired a new stake in shares of Johnson & Johnson in the first quarter worth approximately $32,000. GW&K Investment Management LLC acquired a new stake in shares of Johnson & Johnson in the fourth quarter worth approximately $35,000. Dark Forest Capital Management LP boosted its position in shares of Johnson & Johnson by 1,044.4% in the fourth quarter. Dark Forest Capital Management LP now owns 206 shares of the company’s stock worth $36,000 after acquiring an additional 188 shares during the last quarter. Ruedi Wealth Management Inc. acquired a new stake in shares of Johnson & Johnson in the fourth quarter worth approximately $42,000. Finally, Kepos Capital LP acquired a new stake in shares of Johnson & Johnson in the fourth quarter worth approximately $45,000. 68.40% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on JNJ shares. Stifel Nicolaus lifted their price target on shares of Johnson & Johnson from $165.00 to $175.00 in a research report on Friday, July 21st. Citigroup started coverage on shares of Johnson & Johnson in a research report on Tuesday, May 30th. They set a “buy” rating and a $185.00 target price on the stock. Cantor Fitzgerald reissued an “overweight” rating and set a $215.00 target price on shares of Johnson & Johnson in a research report on Monday, September 18th. TheStreet raised shares of Johnson & Johnson from a “c+” rating to a “b+” rating in a research report on Monday, August 21st. Finally, HSBC started coverage on shares of Johnson & Johnson in a research note on Wednesday, September 6th. They issued a “hold” rating and a $175.00 price target for the company. Nine research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $170.65.

Check Out Our Latest Stock Report on JNJ

Insider Transactions at Johnson & Johnson

In other news, insider William Hait sold 14,698 shares of the company’s stock in a transaction dated Wednesday, July 26th. The shares were 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 owns 87,747 shares in the company, valued at $15,092,484. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider William Hait sold 14,698 shares of the company’s stock in a transaction dated 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 sale, 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 Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Peter Fasolo sold 20,000 shares of the company’s 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 sale, the vice president now directly owns 102,696 shares of the company’s stock, valued at approximately $17,491,182.72. The disclosure for this sale can be found here. Insiders own 0.20% of the company’s stock.

Johnson & Johnson Stock Down 0.7 %

Johnson & Johnson stock opened at $160.50 on Friday. The company has a 50-day simple moving average of $166.51 and a 200-day simple moving average of $162.00. The firm has a market capitalization of $417.13 billion, a P/E ratio of 32.49, a P/E/G ratio of 3.27 and a beta of 0.54. 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 has a one year low of $150.11 and a one year high of $181.04.

Johnson & Johnson (NYSE:JNJ – Get Free Report) last released its quarterly earnings results on Thursday, July 20th. The company reported $2.80 EPS for the quarter, topping the consensus estimate of $2.62 by $0.18. The business 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%. The company’s quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.59 earnings per share. As a group, equities analysts expect that Johnson & Johnson will post 10.02 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 7th. Stockholders of record on Monday, August 28th were given a dividend of $1.19 per share. The ex-dividend date was Friday, August 25th. This represents a $4.76 annualized dividend and a dividend yield of 2.97%. Johnson & Johnson’s dividend payout ratio 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.