Innova Wealth Partners Has $316,000 Stock Holdings in Johnson & Johnson (NYSE:JNJ)

Posted by Defense World Staff on Sep 24th, 2023

Innova Wealth Partners lifted its holdings in shares of Johnson & Johnson (NYSE:JNJ – Free Report) by 8.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,912 shares of the company’s stock after buying an additional 153 shares during the period. Innova Wealth Partners’ holdings in Johnson & Johnson were worth $316,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Peak Asset Management LLC boosted its stake in shares of Johnson & Johnson by 9.3% during the 1st quarter. Peak Asset Management LLC now owns 13,789 shares of the company’s stock worth $2,137,000 after buying an additional 1,171 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of Johnson & Johnson by 0.9% during the 1st quarter. Nisa Investment Advisors LLC now owns 748,842 shares of the company’s stock worth $116,071,000 after acquiring an additional 6,836 shares during the period. Vaughan Nelson Investment Management L.P. boosted its stake in shares of Johnson & Johnson by 21.8% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 903,546 shares of the company’s stock worth $140,050,000 after acquiring an additional 161,687 shares during the period. Tekla Capital Management LLC boosted its stake in shares of Johnson & Johnson by 12.8% during the 1st quarter. Tekla Capital Management LLC now owns 721,779 shares of the company’s stock worth $111,876,000 after acquiring an additional 82,100 shares during the period. Finally, Wisconsin Capital Management LLC boosted its stake in shares of Johnson & Johnson by 0.8% during the 1st quarter. Wisconsin Capital Management LLC now owns 15,723 shares of the company’s stock worth $2,437,000 after acquiring an additional 127 shares during the period. 68.40% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

JNJ has been the subject of several research analyst reports. Wells Fargo & Company reduced their target price on Johnson & Johnson from $195.00 to $186.00 and set an “overweight” rating for the company in a research note on Thursday, August 31st. JPMorgan Chase & Co. boosted their price target on Johnson & Johnson from $175.00 to $180.00 and gave the company a “neutral” rating in a research note on Friday, July 21st. Citigroup initiated coverage on Johnson & Johnson in a research note on Tuesday, May 30th. They issued a “buy” rating and a $185.00 price target for the company. Raymond James reduced their price target on Johnson & Johnson from $184.00 to $179.00 and set an “outperform” rating for the company in a research note on Tuesday, September 5th. Finally, Barclays cut their target price on Johnson & Johnson from $175.00 to $158.00 and set an “equal weight” rating for the company in a research report on Friday, September 8th. Nine analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $170.65.

Check Out Our Latest Stock Report on JNJ

Insider Buying and Selling at Johnson & Johnson

In other Johnson & Johnson news, insider William Hait sold 14,698 shares of the company’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 sale, the insider now owns 87,747 shares in the company, valued at approximately $15,092,484. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, 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 sale, the vice president now owns 102,696 shares in the company, valued at approximately $17,491,182.72. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 value of $2,528,056.00. Following the completion of the transaction, the insider now owns 87,747 shares in the company, valued at approximately $15,092,484. The disclosure for this sale can be found here. Corporate insiders own 0.20% of the company’s stock.

Johnson & Johnson Price Performance

Johnson & Johnson stock opened at $160.50 on Friday. 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 52 week low of $150.11 and a 52 week high of $181.04. The stock has a market capitalization of $417.13 billion, a P/E ratio of 32.49, a price-to-earnings-growth ratio of 3.27 and a beta of 0.54. The stock has a fifty day moving average of $166.51 and a 200-day moving average of $162.00.

Johnson & Johnson (NYSE:JNJ – Get Free Report) last issued its earnings results on Thursday, July 20th. The company reported $2.80 earnings per share (EPS) for the quarter, topping 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 analysts’ expectations of $24.63 billion. During the same quarter in the prior year, the firm earned $2.59 EPS. The business’s revenue for the quarter was up 6.3% compared to the same quarter last year. On average, sell-side analysts expect that Johnson & Johnson will post 10.02 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 7th. Shareholders of record on Monday, August 28th were given a $1.19 dividend. The ex-dividend date was Friday, August 25th. This represents a $4.76 dividend on an annualized basis and a dividend yield of 2.97%. Johnson & Johnson’s dividend payout ratio (DPR) is presently 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.