Hedeker Wealth LLC Sells 297 Shares of Johnson & Johnson (NYSE:JNJ)

Posted by Defense World Staff on Oct 11th, 2023

Hedeker Wealth LLC lessened its stake in shares of Johnson & Johnson (NYSE:JNJ – Free Report) by 1.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,855 shares of the company’s stock after selling 297 shares during the quarter. Hedeker Wealth LLC’s holdings in Johnson & Johnson were worth $2,955,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in JNJ. Moneta Group Investment Advisors LLC boosted its position in shares of Johnson & Johnson by 90,144.4% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 54,386,720 shares of the company’s stock worth $9,607,414,000 after purchasing an additional 54,326,454 shares in the last quarter. Norges Bank acquired a new stake in shares of Johnson & Johnson in the 4th quarter worth about $4,609,399,000. Providence Capital Advisors LLC raised its holdings in shares of Johnson & Johnson by 141,974.0% in the 1st quarter. Providence Capital Advisors LLC now owns 4,750,956 shares of the company’s stock worth $30,651,000 after acquiring an additional 4,747,612 shares during the last quarter. Morgan Stanley raised its holdings in shares of Johnson & Johnson by 12.0% in the 4th quarter. Morgan Stanley now owns 42,224,521 shares of the company’s stock worth $7,458,962,000 after acquiring an additional 4,521,062 shares during the last quarter. Finally, BlackRock Inc. raised its holdings in shares of Johnson & Johnson by 1.4% in the 1st quarter. BlackRock Inc. now owns 201,491,567 shares of the company’s stock worth $31,231,193,000 after acquiring an additional 2,688,798 shares during the last quarter. Institutional investors own 68.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. StockNews.com upgraded shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. Cantor Fitzgerald reiterated an “overweight” rating and issued a $215.00 price objective on shares of Johnson & Johnson in a research note on Monday. JPMorgan Chase & Co. increased their target price on shares of Johnson & Johnson from $175.00 to $180.00 and gave the company a “neutral” rating in a research report on Friday, July 21st. Royal Bank of Canada assumed coverage on shares of Johnson & Johnson in a research report on Wednesday, October 4th. They set an “outperform” rating and a $178.00 target price for the company. Finally, Morgan Stanley reduced their target price on shares of Johnson & Johnson from $187.00 to $172.00 and set an “equal weight” rating for the company in a research report on Thursday, August 31st. Nine research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $171.06.

Get Our Latest Analysis on Johnson & Johnson

Insider Activity

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

Johnson & Johnson Stock Down 0.1 %

Shares of NYSE:JNJ opened at $158.35 on Wednesday. The firm has a fifty day moving average price of $163.91 and a two-hundred day moving average price of $162.50. 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 one year low of $150.11 and a one year high of $181.04. The company has a market cap of $411.55 billion, a price-to-earnings ratio of 32.05, a PEG ratio of 3.19 and a beta of 0.55.

Johnson & Johnson (NYSE:JNJ – Get Free Report) last announced its quarterly earnings results on Thursday, July 20th. The company reported $2.80 EPS for the quarter, beating the consensus estimate of $2.62 by $0.18. The firm had revenue of $25.53 billion during the quarter, compared to the consensus estimate of $24.63 billion. Johnson & Johnson had a net margin of 13.35% and a return on equity of 36.72%. The business’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period last year, the firm earned $2.59 EPS. Analysts anticipate that Johnson & Johnson will post 10.02 EPS for the current fiscal year.

Johnson & Johnson Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 7th. Stockholders of record on Monday, August 28th were given a dividend of $1.19 per share. This represents a $4.76 annualized dividend and a dividend yield of 3.01%. The ex-dividend date was Friday, August 25th. Johnson & Johnson’s dividend payout ratio (DPR) is currently 96.36%.

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.