River Street Advisors LLC Sells 161 Shares of Johnson & Johnson (NYSE:JNJ)

Posted by Defense World Staff on Oct 11th, 2023

River Street Advisors LLC reduced its stake in Johnson & Johnson (NYSE:JNJ – Free Report) by 1.4% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,244 shares of the company’s stock after selling 161 shares during the quarter. Johnson & Johnson comprises approximately 1.8% of River Street Advisors LLC’s holdings, making the stock its 11th largest position. River Street Advisors LLC’s holdings in Johnson & Johnson were worth $1,861,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Peak Asset Management LLC grew its holdings in shares of Johnson & Johnson by 9.3% during the first quarter. Peak Asset Management LLC now owns 13,789 shares of the company’s stock valued at $2,137,000 after buying an additional 1,171 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in Johnson & Johnson by 0.9% in the 1st quarter. Nisa Investment Advisors LLC now owns 748,842 shares of the company’s stock valued at $116,071,000 after acquiring an additional 6,836 shares in the last quarter. Vaughan Nelson Investment Management L.P. boosted its stake in Johnson & Johnson by 21.8% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 903,546 shares of the company’s stock valued at $140,050,000 after purchasing an additional 161,687 shares during the last quarter. Tekla Capital Management LLC raised 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 worth $111,876,000 after purchasing an additional 82,100 shares during the last quarter. Finally, Franklin Street Advisors Inc. NC lifted its holdings in shares of Johnson & Johnson by 0.7% during the second quarter. Franklin Street Advisors Inc. NC now owns 80,179 shares of the company’s stock valued at $13,271,000 after purchasing an additional 562 shares in the last quarter. Hedge funds and other institutional investors own 68.40% of the company’s stock.

Insider Transactions 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related 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 value 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 $17,491,182.72. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider William Hait sold 14,698 shares of the company’s stock in a transaction 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 sale, the insider now directly owns 87,747 shares in the company, valued at approximately $15,092,484. The disclosure for this sale can be found here. Insiders own 0.20% of the company’s stock.

Johnson & Johnson Price Performance

Shares of Johnson & Johnson stock opened at $158.35 on Wednesday. The stock’s 50-day simple moving average is $163.91 and its 200-day simple moving average is $162.50. The company has a market capitalization 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 has a 52 week low of $150.11 and a 52 week high of $181.04. The company has a quick ratio of 0.88, a current ratio of 1.12 and a debt-to-equity ratio of 0.44.

Johnson & Johnson (NYSE:JNJ – Get Free Report) last announced its quarterly earnings data 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 business had revenue of $25.53 billion during the quarter, compared to analyst estimates of $24.63 billion. Johnson & Johnson had a net margin of 13.35% and a return on equity of 36.72%. The company’s revenue was up 6.3% on a year-over-year basis. During the same period last year, the firm posted $2.59 EPS. As a group, analysts expect that Johnson & Johnson will post 10.02 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

The company 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. The ex-dividend date of this dividend was Friday, August 25th. This represents a $4.76 dividend on an annualized basis and a dividend yield of 3.01%. Johnson & Johnson’s payout ratio is 96.36%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on JNJ shares. Stifel Nicolaus boosted their target price on Johnson & Johnson from $165.00 to $175.00 in a research report on Friday, July 21st. Raymond James lowered their price objective on shares of 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 cut their target price on shares of Johnson & Johnson from $195.00 to $186.00 and set an “overweight” rating for the company in a research report on Thursday, August 31st. HSBC initiated coverage on Johnson & Johnson in a research note on Wednesday, September 6th. They issued a “hold” rating and a $175.00 price target on the stock. Finally, Credit Suisse Group increased their target price on Johnson & Johnson from $170.00 to $175.00 and gave the company a “neutral” rating in a report on Friday, July 21st. Nine investment 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. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $171.06.

Check Out Our Latest Analysis 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.