Marietta Wealth Management LLC Increases Stock Holdings in Johnson & Johnson (NYSE:JNJ)

Posted by Defense World Staff on Oct 2nd, 2023

Marietta Wealth Management LLC raised its stake in Johnson & Johnson (NYSE:JNJ – Free Report) by 1.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,133 shares of the company’s stock after purchasing an additional 524 shares during the period. Marietta Wealth Management LLC’s holdings in Johnson & Johnson were worth $4,822,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the stock. Peak Asset Management LLC grew its stake in shares of Johnson & Johnson by 9.3% in the 1st quarter. Peak Asset Management LLC now owns 13,789 shares of the company’s stock valued at $2,137,000 after purchasing an additional 1,171 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of Johnson & Johnson by 0.9% in the first quarter. Nisa Investment Advisors LLC now owns 748,842 shares of the company’s stock valued at $116,071,000 after buying an additional 6,836 shares in the last quarter. Vaughan Nelson Investment Management L.P. boosted its stake in shares of Johnson & Johnson by 21.8% in the first quarter. Vaughan Nelson Investment Management L.P. now owns 903,546 shares of the company’s stock valued at $140,050,000 after buying an additional 161,687 shares in the last quarter. Tekla Capital Management LLC boosted its stake in shares of Johnson & Johnson by 12.8% in the first quarter. Tekla Capital Management LLC now owns 721,779 shares of the company’s stock valued at $111,876,000 after buying an additional 82,100 shares in the last quarter. Finally, Franklin Street Advisors Inc. NC boosted its stake in shares of Johnson & Johnson by 0.7% in the second quarter. Franklin Street Advisors Inc. NC now owns 80,179 shares of the company’s stock valued at $13,271,000 after buying an additional 562 shares in the last quarter. Institutional investors and hedge funds own 68.40% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on JNJ. Atlantic Securities lifted their price objective on Johnson & Johnson from $167.00 to $170.00 and gave the stock a “neutral” rating in a report on Friday, August 4th. JPMorgan Chase & Co. upped their target price on Johnson & Johnson from $175.00 to $180.00 and gave the company a “neutral” rating in a research note on Friday, July 21st. Barclays lowered their price target 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. HSBC assumed coverage on Johnson & Johnson in a research report on Wednesday, September 6th. They issued a “hold” rating and a $175.00 target price for the company. Finally, 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 report on Tuesday, September 5th. Nine analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Johnson & Johnson currently has an average rating of “Hold” and an average price target of $170.65.

Check Out Our Latest Report on Johnson & Johnson

Johnson & Johnson Stock Performance

Shares of JNJ stock opened at $155.75 on Monday. Johnson & Johnson has a 12-month low of $150.11 and a 12-month high of $181.04. The firm has a market capitalization of $404.79 billion, a price-to-earnings ratio of 31.53, a price-to-earnings-growth ratio of 3.15 and a beta of 0.55. The business has a 50 day simple moving average of $165.97 and a 200 day simple moving average of $162.29. 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 (NYSE:JNJ – Get Free Report) last issued its quarterly earnings results on Thursday, July 20th. The company reported $2.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 return on equity of 36.72% and a net margin of 13.35%. The firm’s quarterly revenue was up 6.3% on a year-over-year basis. During the same period last year, the company posted $2.59 EPS. On average, equities research analysts anticipate that Johnson & Johnson will post 10.02 EPS for the current year.

Johnson & Johnson Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 7th. Stockholders of record on Monday, August 28th were paid a dividend of $1.19 per share. This represents a $4.76 annualized dividend and a dividend yield of 3.06%. The ex-dividend date of this dividend was Friday, August 25th. Johnson & Johnson’s dividend payout ratio is presently 96.36%.

Insider Transactions at Johnson & Johnson

In related news, VP Peter Fasolo sold 20,000 shares of the stock in a transaction on 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 in the company, valued at $17,491,182.72. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, insider William Hait sold 14,698 shares of the company’s 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 sale, the insider now directly owns 87,747 shares in the company, valued at approximately $15,092,484. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Peter Fasolo sold 20,000 shares of the company’s stock in a transaction that occurred 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 sale, the vice president now owns 102,696 shares in the company, valued at $17,491,182.72. The disclosure for this sale can be found here. Corporate insiders own 0.20% of the company’s stock.

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.