McBroom & Associates LLC Has $4.45 Million Stake in Johnson & Johnson (NYSE:JNJ)

Posted by Defense World Staff on Oct 13th, 2023

McBroom & Associates LLC grew its holdings in Johnson & Johnson (NYSE:JNJ – Free Report) by 2.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 26,898 shares of the company’s stock after buying an additional 767 shares during the period. Johnson & Johnson accounts for about 3.5% of McBroom & Associates LLC’s portfolio, making the stock its 16th biggest holding. McBroom & Associates LLC’s holdings in Johnson & Johnson were worth $4,452,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. BlackRock Inc. lifted its holdings in Johnson & Johnson by 1.4% during the 1st quarter. BlackRock Inc. now owns 201,491,567 shares of the company’s stock worth $31,231,193,000 after purchasing an additional 2,688,798 shares during the last quarter. Moneta Group Investment Advisors LLC lifted its holdings in 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 during the last quarter. Geode Capital Management LLC lifted its holdings in Johnson & Johnson by 1.6% during the 1st quarter. Geode Capital Management LLC now owns 48,707,500 shares of the company’s stock worth $7,532,525,000 after purchasing an additional 748,917 shares during the last quarter. Morgan Stanley lifted its holdings in Johnson & Johnson by 12.0% during the 4th quarter. Morgan Stanley now owns 42,224,521 shares of the company’s stock worth $7,458,962,000 after purchasing an additional 4,521,062 shares during the last quarter. Finally, Norges Bank bought a new position in Johnson & Johnson during the 4th quarter worth $4,609,399,000. 68.40% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, VP Peter Fasolo sold 20,000 shares of the 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 sale, the vice president now directly owns 102,696 shares of the company’s stock, valued at approximately $17,491,182.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Johnson & Johnson 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 approximately $17,491,182.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider William Hait sold 14,698 shares of the company’s 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 completion of 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. 0.20% of the stock is currently owned by corporate insiders.

Johnson & Johnson Trading Up 0.1 %

Shares of Johnson & Johnson stock opened at $156.32 on Friday. The company has a market capitalization of $406.27 billion, a P/E ratio of 31.64, a P/E/G ratio of 3.21 and a beta of 0.55. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.88 and a current ratio of 1.12. The company has a fifty day moving average of $163.35 and a 200 day moving average of $162.41. Johnson & Johnson has a fifty-two week low of $150.11 and a fifty-two week high of $181.04.

Johnson & Johnson (NYSE:JNJ – Get Free Report) last released its quarterly earnings data on Thursday, July 20th. The company reported $2.80 EPS 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 during the quarter, compared to the consensus estimate of $24.63 billion. During the same quarter in the prior year, the firm earned $2.59 EPS. The business’s revenue was up 6.3% on a year-over-year basis. On average, sell-side analysts anticipate 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. Investors of record on Monday, August 28th were given a $1.19 dividend. This represents a $4.76 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date of this dividend was Friday, August 25th. Johnson & Johnson’s dividend payout ratio (DPR) is currently 96.36%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on JNJ shares. HSBC started coverage on Johnson & Johnson in a research note on Wednesday, September 6th. They set a “hold” rating and a $175.00 price objective on the stock. Royal Bank of Canada started coverage on Johnson & Johnson in a research note on Wednesday, October 4th. They set an “outperform” rating and a $178.00 price objective on the stock. Morgan Stanley raised their price objective on Johnson & Johnson from $172.00 to $174.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Wells Fargo & Company decreased their price target on Johnson & Johnson from $195.00 to $186.00 and set an “overweight” rating on the stock in a research note on Thursday, August 31st. Finally, Atlantic Securities lifted their price target on Johnson & Johnson from $167.00 to $170.00 and gave the company a “neutral” rating in a research note on Friday, August 4th. Nine investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $171.39.

Get Our Latest Stock Analysis on Johnson & Johnson

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.