Global Assets Advisory LLC Buys New Stake in Johnson & Johnson (NYSE:JNJ)

Posted by Defense World Staff on Oct 9th, 2023

Global Assets Advisory LLC bought a new stake in Johnson & Johnson (NYSE:JNJ – Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 5,739 shares of the company’s stock, valued at approximately $937,000.

Other large investors also recently made changes to their positions in the company. Atlantic Private Wealth LLC purchased a new position in shares of Johnson & Johnson during the 1st quarter worth $32,000. Ruedi Wealth Management Inc. acquired a new stake in shares of Johnson & Johnson during the 4th quarter worth $42,000. 25 LLC acquired a new stake in shares of Johnson & Johnson during the 1st quarter worth $55,000. Horizons Wealth Management increased its holdings in shares of Johnson & Johnson by 1,730.0% during the 2nd quarter. Horizons Wealth Management now owns 366 shares of the company’s stock worth $61,000 after buying an additional 346 shares during the last quarter. Finally, Bay Harbor Wealth Management LLC acquired a new stake in shares of Johnson & Johnson during the 2nd quarter worth $66,000. Hedge funds and other institutional investors own 68.40% of the company’s stock.

Johnson & Johnson Stock Performance

Shares of NYSE JNJ opened at $157.64 on Monday. 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 firm’s 50-day moving average price is $164.30 and its two-hundred day moving average price is $162.40. 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 $409.70 billion, a P/E ratio of 31.91, a P/E/G ratio of 3.19 and a beta of 0.55.

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 net margin of 13.35% and a return on equity of 36.72%. The firm had revenue of $25.53 billion for the quarter, compared to analysts’ expectations of $24.63 billion. During the same quarter last year, the company posted $2.59 earnings per share. Johnson & Johnson’s revenue was up 6.3% on a year-over-year basis. As a group, sell-side analysts forecast 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. Shareholders of record on Monday, August 28th were paid a $1.19 dividend. The ex-dividend date of this dividend was Friday, August 25th. This represents a $4.76 annualized dividend and a dividend yield of 3.02%. Johnson & Johnson’s payout ratio is currently 96.36%.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Morgan Stanley dropped their price objective on Johnson & Johnson from $187.00 to $172.00 and set an “equal weight” rating for the company in a report on Thursday, August 31st. Atlantic Securities increased their price target on Johnson & Johnson from $167.00 to $170.00 and gave the company a “neutral” rating in a report on Friday, August 4th. TheStreet upgraded Johnson & Johnson from a “c+” rating to a “b+” rating in a report on Monday, August 21st. Credit Suisse Group increased their price target on Johnson & Johnson from $170.00 to $175.00 and gave the company a “neutral” rating in a report on Friday, July 21st. Finally, Royal Bank of Canada assumed coverage on Johnson & Johnson in a report on Wednesday, October 4th. They issued an “outperform” rating and a $178.00 price target for the company. Nine investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Johnson & Johnson currently has a consensus rating of “Moderate Buy” and a consensus target price of $171.06.

Check Out Our Latest Analysis on Johnson & Johnson

Insider Buying and Selling at Johnson & Johnson

In other Johnson & Johnson news, VP Peter Fasolo sold 20,000 shares of the firm’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 sale, the vice president now owns 102,696 shares in the company, valued at $17,491,182.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider William Hait sold 14,698 shares of the firm’s stock in a transaction that occurred on 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 owns 87,747 shares in the company, valued at $15,092,484. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Peter Fasolo sold 20,000 shares of the firm’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 transaction of $3,406,400.00. Following the transaction, the vice president now owns 102,696 shares in the company, valued at approximately $17,491,182.72. The disclosure for this sale can be found here. 0.20% of the stock is owned by company insiders.

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.