K.J. Harrison & Partners Inc Sells 14,195 Shares of Johnson & Johnson (NYSE:JNJ)

Posted by Defense World Staff on Oct 11th, 2023

K.J. Harrison & Partners Inc decreased its holdings in shares of Johnson & Johnson (NYSE:JNJ – Free Report) by 30.3% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 32,623 shares of the company’s stock after selling 14,195 shares during the period. Johnson & Johnson accounts for 1.0% of K.J. Harrison & Partners Inc’s portfolio, making the stock its 23rd largest position. K.J. Harrison & Partners Inc’s holdings in Johnson & Johnson were worth $5,380,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. BlackRock Inc. increased its stake in shares of Johnson & Johnson by 1.4% during the first quarter. BlackRock Inc. now owns 201,491,567 shares of the company’s stock valued at $31,231,193,000 after purchasing an additional 2,688,798 shares in the last quarter. Moneta Group Investment Advisors LLC increased its stake in shares of Johnson & Johnson by 90,144.4% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 54,386,720 shares of the company’s stock valued at $9,607,414,000 after purchasing an additional 54,326,454 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Johnson & Johnson by 1.6% during the first quarter. Geode Capital Management LLC now owns 48,707,500 shares of the company’s stock valued at $7,532,525,000 after purchasing an additional 748,917 shares in the last quarter. Morgan Stanley increased its stake in shares of Johnson & Johnson by 12.0% during the fourth quarter. Morgan Stanley now owns 42,224,521 shares of the company’s stock valued at $7,458,962,000 after purchasing an additional 4,521,062 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Johnson & Johnson during the fourth quarter valued at approximately $4,609,399,000. Institutional investors own 68.40% of the company’s stock.

Johnson & Johnson Trading Down 0.1 %

Shares of Johnson & Johnson stock opened at $158.35 on Wednesday. The company’s fifty day simple moving average is $163.91 and its 200-day simple moving average is $162.50. The stock has a market capitalization of $411.55 billion, a PE ratio of 32.05, a P/E/G ratio of 3.19 and a beta of 0.55. Johnson & Johnson has a 1-year low of $150.11 and a 1-year high of $181.04. 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 (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, topping the consensus estimate of $2.62 by $0.18. The business had revenue of $25.53 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter last year, the company posted $2.59 EPS. As a group, equities analysts anticipate that Johnson & Johnson will post 10.02 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

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 was Friday, August 25th. This represents a $4.76 annualized dividend and a dividend yield of 3.01%. Johnson & Johnson’s payout ratio is 96.36%.

Wall Street Analyst Weigh In

JNJ has been the topic of a number of recent analyst reports. Royal Bank of Canada initiated coverage on shares of Johnson & Johnson in a report on Wednesday, October 4th. They set an “outperform” rating and a $178.00 price target on the stock. Morgan Stanley cut their price target on shares of Johnson & Johnson from $187.00 to $172.00 and set an “equal weight” rating on the stock in a report on Thursday, August 31st. Raymond James cut their price target on shares of Johnson & Johnson from $184.00 to $179.00 and set an “outperform” rating on the stock in a report on Tuesday, September 5th. Cantor Fitzgerald reiterated an “overweight” rating and set a $215.00 price target on shares of Johnson & Johnson in a report on Monday. Finally, Atlantic Securities increased their price target on shares of Johnson & Johnson from $167.00 to $170.00 and gave the company a “neutral” rating in a report on Friday, August 4th. Nine research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Johnson & Johnson currently has a consensus rating of “Moderate Buy” and a consensus target price of $171.06.

Get Our Latest Report on JNJ

Insider Activity

In other news, insider William Hait sold 14,698 shares of the firm’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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider William Hait sold 14,698 shares of the firm’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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 $17,491,182.72. The disclosure for this sale can be found here. Insiders own 0.20% of the company’s stock.

Johnson & Johnson 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.