CFS Investment Advisory Services LLC Takes Position in Johnson & Johnson (NYSE:JNJ)

Posted by on Oct 10th, 2023

CFS Investment Advisory Services LLC acquired a new stake in shares of Johnson & Johnson (NYSE:JNJ – Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 30,166 shares of the company’s stock, valued at approximately $4,993,000. Johnson & Johnson comprises approximately 0.6% of CFS Investment Advisory Services LLC’s investment portfolio, making the stock its 29th largest position.

Several other hedge funds have also recently made changes to their positions in JNJ. Atlantic Private Wealth LLC bought a new stake in Johnson & Johnson during the first quarter valued at approximately $32,000. Ruedi Wealth Management Inc. bought a new stake in Johnson & Johnson during the fourth quarter valued at approximately $42,000. 25 LLC bought a new stake in Johnson & Johnson during the first quarter valued at approximately $55,000. Horizons Wealth Management grew its position in Johnson & Johnson by 1,730.0% during the second quarter. Horizons Wealth Management now owns 366 shares of the company’s stock valued at $61,000 after buying an additional 346 shares during the period. Finally, Bay Harbor Wealth Management LLC bought a new position in shares of Johnson & Johnson in the second quarter worth approximately $66,000. 68.40% of the stock is owned by hedge funds and other institutional investors.

Johnson & Johnson Trading Up 0.6 %

Shares of JNJ opened at $158.53 on Tuesday. Johnson & Johnson has a twelve month low of $150.11 and a twelve month high of $181.04. The company has a market cap of $412.01 billion, a P/E ratio of 32.09, a P/E/G ratio of 3.19 and a beta of 0.55. 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 company’s fifty day simple moving average is $164.12 and its 200-day simple moving average is $162.46.

Johnson & Johnson (NYSE:JNJ – Get Free Report) last announced its earnings results on Thursday, July 20th. The company reported $2.80 earnings per share 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 for the quarter, compared to the consensus estimate of $24.63 billion. During the same quarter in the prior year, the firm posted $2.59 earnings per share. The business’s revenue for the quarter was up 6.3% on a year-over-year basis. As a group, analysts expect that Johnson & Johnson will post 10.02 EPS for the current year.

Johnson & Johnson Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 7th. Stockholders of record on Monday, August 28th were paid a $1.19 dividend. This represents a $4.76 annualized dividend and a dividend yield of 3.00%. The ex-dividend date of this dividend was Friday, August 25th. Johnson & Johnson’s dividend payout ratio is currently 96.36%.

Insider Transactions at Johnson & Johnson

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

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. JPMorgan Chase & Co. upped their price target on shares of Johnson & Johnson from $175.00 to $180.00 and gave the stock a “neutral” rating in a research report on Friday, July 21st. TheStreet upgraded shares of Johnson & Johnson from a “c+” rating to a “b+” rating in a research report on Monday, August 21st. Barclays lowered their target price on shares of Johnson & Johnson from $175.00 to $158.00 and set an “equal weight” rating on the stock in a report on Friday, September 8th. Credit Suisse Group boosted their target price on shares of Johnson & Johnson from $170.00 to $175.00 and gave the stock a “neutral” rating in a report on Friday, July 21st. Finally, Stifel Nicolaus boosted their target price on shares of Johnson & Johnson from $165.00 to $175.00 in a report on Friday, July 21st. Nine analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Johnson & Johnson currently has an average rating of “Moderate Buy” and an average price target of $171.06.

View Our Latest Research Report on JNJ

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.

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Institutional Ownership by Quarter for Johnson & Johnson (NYSE:JNJ)

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