Transform Wealth LLC Trims Stock Position in Johnson & Johnson (NYSE:JNJ)

Posted by Defense World Staff on Sep 25th, 2023

Transform Wealth LLC lessened its position in shares of Johnson & Johnson (NYSE:JNJ – Free Report) by 1.0% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 28,178 shares of the company’s stock after selling 299 shares during the quarter. Transform Wealth LLC’s holdings in Johnson & Johnson were worth $4,664,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in JNJ. GW&K Investment Management LLC purchased a new stake in Johnson & Johnson in the fourth quarter valued at approximately $35,000. Dark Forest Capital Management LP raised its position in Johnson & Johnson by 1,044.4% in the fourth quarter. Dark Forest Capital Management LP now owns 206 shares of the company’s stock valued at $36,000 after purchasing an additional 188 shares during the period. Atlantic Private Wealth LLC purchased a new stake in Johnson & Johnson in the first quarter valued at approximately $32,000. Ruedi Wealth Management Inc. purchased a new stake in Johnson & Johnson in the fourth quarter valued at approximately $42,000. Finally, Kepos Capital LP purchased a new stake in Johnson & Johnson in the fourth quarter valued at approximately $45,000. Hedge funds and other institutional investors own 68.40% of the company’s stock.

Insider Buying and Selling

In related news, insider William Hait sold 14,698 shares of the 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 directly 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 available at the SEC website. In other Johnson & Johnson news, insider William Hait sold 14,698 shares of the 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 transaction, the insider now directly owns 87,747 shares of the company’s stock, valued at $15,092,484. The sale was disclosed in a filing with the SEC, which is available at this link. Also, 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 transaction, the vice president now directly owns 102,696 shares of the company’s stock, valued at $17,491,182.72. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by corporate insiders.

Johnson & Johnson Stock Performance

NYSE JNJ opened at $160.50 on Monday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.12 and a quick ratio of 0.88. Johnson & Johnson has a 1 year low of $150.11 and a 1 year high of $181.04. The company has a market capitalization of $417.13 billion, a PE ratio of 32.49, a P/E/G ratio of 3.25 and a beta of 0.54. The company has a fifty day moving average of $166.51 and a two-hundred day moving average of $162.06.

Johnson & Johnson (NYSE:JNJ – Get Free Report) last announced its earnings results on Thursday, July 20th. The company reported $2.80 EPS for the quarter, beating analysts’ consensus estimates 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 period in the prior year, the company earned $2.59 earnings per share. The business’s revenue was up 6.3% compared to the same quarter last year. As a group, analysts expect that Johnson & Johnson will post 10.02 earnings per share for the current year.

Johnson & Johnson Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 7th. Investors of record on Monday, August 28th were issued 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 2.97%. Johnson & Johnson’s dividend payout ratio is currently 96.36%.

Analyst Ratings Changes

JNJ has been the topic of a number of research analyst reports. 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 report on Thursday, August 31st. Barclays cut their price objective on Johnson & Johnson from $175.00 to $158.00 and set an “equal weight” rating on the stock in a research report on Friday, September 8th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $215.00 price objective on shares of Johnson & Johnson in a research report on Monday, September 18th. Atlantic Securities upped their price objective on Johnson & Johnson from $167.00 to $170.00 and gave the stock a “neutral” rating in a research report on Friday, August 4th. Finally, JPMorgan Chase & Co. upped their price objective on Johnson & Johnson from $175.00 to $180.00 and gave the stock a “neutral” rating in a research report on Friday, July 21st. Nine analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Johnson & Johnson has a consensus rating of “Hold” and a consensus target price of $170.65.

Check Out Our Latest Analysis on Johnson & Johnson

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.