Wealth Effects LLC Lowers Stock Position in Johnson & Johnson (NYSE:JNJ)

Posted by Defense World Staff on Oct 2nd, 2023

Wealth Effects LLC lessened its holdings in Johnson & Johnson (NYSE:JNJ – Free Report) by 4.0% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 10,020 shares of the company’s stock after selling 413 shares during the period. Johnson & Johnson comprises 0.7% of Wealth Effects LLC’s holdings, making the stock its 25th biggest position. Wealth Effects LLC’s holdings in Johnson & Johnson were worth $1,659,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. DORCHESTER WEALTH MANAGEMENT Co raised its stake in shares of Johnson & Johnson by 8.6% during the 1st quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 67,618 shares of the company’s stock valued at $14,975,000 after buying an additional 5,327 shares during the last quarter. Cantor Fitzgerald Investment Advisor L.P raised its stake in shares of Johnson & Johnson by 88.9% during the 1st quarter. Cantor Fitzgerald Investment Advisor L.P now owns 175,194 shares of the company’s stock valued at $31,049,000 after buying an additional 82,429 shares during the last quarter. AMI Investment Management Inc. raised its stake in shares of Johnson & Johnson by 8.8% during the 1st quarter. AMI Investment Management Inc. now owns 18,305 shares of the company’s stock valued at $3,244,000 after buying an additional 1,475 shares during the last quarter. Equitable Holdings Inc. raised its stake in shares of Johnson & Johnson by 4.9% during the 1st quarter. Equitable Holdings Inc. now owns 45,673 shares of the company’s stock valued at $8,095,000 after buying an additional 2,119 shares during the last quarter. Finally, USS Investment Management Ltd raised its stake in shares of Johnson & Johnson by 2.4% during the 1st quarter. USS Investment Management Ltd now owns 860,371 shares of the company’s stock valued at $152,488,000 after buying an additional 20,528 shares during the last quarter. Hedge funds and other institutional investors own 68.40% of the company’s stock.

Insider Transactions at Johnson & Johnson

In related news, VP Peter Fasolo sold 20,000 shares of Johnson & Johnson 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 approximately $17,491,182.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, VP Peter Fasolo sold 20,000 shares of Johnson & Johnson 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 approximately $17,491,182.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider William Hait sold 14,698 shares of Johnson & Johnson 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 transaction, the insider now directly owns 87,747 shares of the company’s stock, valued at $15,092,484. The disclosure for this sale can be found here. 0.20% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms have weighed in on JNJ. Credit Suisse Group lifted their price objective on Johnson & Johnson from $170.00 to $175.00 and gave the company a “neutral” rating in a research note on Friday, July 21st. Atlantic Securities raised their target price on Johnson & Johnson from $167.00 to $170.00 and gave the company a “neutral” rating in a research report on Friday, August 4th. Raymond James dropped their target price on Johnson & Johnson from $184.00 to $179.00 and set an “outperform” rating on the stock in a research report on Tuesday, September 5th. Wells Fargo & Company dropped their target price on Johnson & Johnson from $195.00 to $186.00 and set an “overweight” rating on the stock in a research report on Thursday, August 31st. Finally, TheStreet upgraded Johnson & Johnson from a “c+” rating to a “b+” rating in a research report on Monday, August 21st. Nine equities research 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 stock. According to MarketBeat.com, Johnson & Johnson presently has an average rating of “Hold” and an average price target of $170.65.

Read Our Latest Analysis on Johnson & Johnson

Johnson & Johnson Stock Performance

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 50 day moving average of $165.97 and a two-hundred day moving average of $162.29. The company has a quick ratio of 0.88, a current ratio of 1.12 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $404.79 billion, a price-to-earnings ratio of 31.53, a P/E/G ratio of 3.15 and a beta of 0.55.

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 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 firm had revenue of $25.53 billion during the quarter, compared to the consensus estimate of $24.63 billion. During the same period in the prior year, the firm earned $2.59 EPS. The business’s revenue was up 6.3% on a year-over-year basis. As a group, equities analysts anticipate that Johnson & Johnson will post 10.02 EPS for the current fiscal year.

Johnson & Johnson Dividend Announcement

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

About Johnson & Johnson

(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.