FRG Family Wealth Advisors LLC Decreases Stake in Johnson & Johnson (NYSE:JNJ)

Posted by Defense World Staff on Sep 24th, 2023

FRG Family Wealth Advisors LLC lowered its stake in Johnson & Johnson (NYSE:JNJ – Free Report) by 1.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 47,089 shares of the company’s stock after selling 858 shares during the period. Johnson & Johnson accounts for 1.7% of FRG Family Wealth Advisors LLC’s holdings, making the stock its 16th biggest position. FRG Family Wealth Advisors LLC’s holdings in Johnson & Johnson were worth $7,794,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in JNJ. MTM Investment Management LLC raised its stake in shares of Johnson & Johnson by 0.5% in the 1st quarter. MTM Investment Management LLC now owns 11,283 shares of the company’s stock valued at $1,749,000 after acquiring an additional 61 shares during the period. OneAscent Financial Services LLC raised its stake in shares of Johnson & Johnson by 3.3% in the 1st quarter. OneAscent Financial Services LLC now owns 1,986 shares of the company’s stock valued at $308,000 after acquiring an additional 63 shares during the period. Beech Hill Advisors Inc. raised its stake in shares of Johnson & Johnson by 0.3% in the 2nd quarter. Beech Hill Advisors Inc. now owns 23,595 shares of the company’s stock valued at $3,906,000 after acquiring an additional 63 shares during the period. FIDELIS iM LLC raised its stake in shares of Johnson & Johnson by 3.1% in the 4th quarter. FIDELIS iM LLC now owns 2,117 shares of the company’s stock valued at $374,000 after acquiring an additional 64 shares during the period. Finally, Well Done LLC raised its stake in shares of Johnson & Johnson by 0.4% in the 1st quarter. Well Done LLC now owns 15,584 shares of the company’s stock valued at $2,415,000 after acquiring an additional 64 shares during the period. Hedge funds and other institutional investors own 68.40% of the company’s stock.

Insider Activity

In other news, VP Peter Fasolo sold 20,000 shares of the company’s stock in a transaction 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 transaction, the vice president now owns 102,696 shares in the company, valued at approximately $17,491,182.72. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, VP Peter Fasolo sold 20,000 shares of the stock in a transaction dated 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 completion of the sale, the vice president now owns 102,696 shares in the company, valued at $17,491,182.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider William Hait sold 14,698 shares of the 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 of the company’s stock, valued at approximately $15,092,484. The disclosure for this sale can be found here. Company insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

JNJ has been the topic of a number of research analyst reports. Atlantic Securities boosted their price target on shares of Johnson & Johnson from $167.00 to $170.00 and gave the company a “neutral” rating in a research note on Friday, August 4th. Citigroup started coverage on shares of Johnson & Johnson in a research note on Tuesday, May 30th. They set a “buy” rating and a $185.00 target price on the stock. StockNews.com downgraded shares of Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. Wells Fargo & Company cut their target price on shares of Johnson & Johnson from $195.00 to $186.00 and set an “overweight” rating on the stock in a research note on Thursday, August 31st. Finally, Stifel Nicolaus upped their target price on shares of Johnson & Johnson from $165.00 to $175.00 in a research note on Friday, July 21st. Nine research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $170.65.

Get Our Latest Analysis on JNJ

Johnson & Johnson Trading Down 0.7 %

Shares of Johnson & Johnson stock opened at $160.50 on Friday. The company has a fifty day simple moving average of $166.51 and a 200-day simple moving average of $162.00. 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 stock has a market cap of $417.13 billion, a price-to-earnings ratio of 32.49, a PEG ratio of 3.27 and a beta of 0.54.

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, beating the consensus estimate of $2.62 by $0.18. Johnson & Johnson had a net margin of 13.35% and a return on equity of 36.72%. 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 business posted $2.59 EPS. The company’s revenue for the quarter was up 6.3% on a year-over-year basis. On average, equities analysts forecast that Johnson & Johnson will post 10.02 EPS for the current fiscal year.

Johnson & Johnson Dividend Announcement

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