Johnson & Johnson (NYSE:JNJ) Shares Sold by Lodestone Wealth Management LLC

Posted by Defense World Staff on Oct 16th, 2023

Lodestone Wealth Management LLC decreased its position in Johnson & Johnson (NYSE:JNJ – Free Report) by 0.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,225 shares of the company’s stock after selling 67 shares during the quarter. Johnson & Johnson accounts for approximately 1.2% of Lodestone Wealth Management LLC’s holdings, making the stock its 29th largest position. Lodestone Wealth Management LLC’s holdings in Johnson & Johnson were worth $1,692,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Atlantic Private Wealth LLC acquired a new stake in shares of Johnson & Johnson during the first quarter worth $32,000. 25 LLC purchased a new position in shares of Johnson & Johnson during the first quarter valued at $55,000. Horizons Wealth Management grew its holdings in shares of 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 in the last quarter. Bay Harbor Wealth Management LLC purchased a new position in Johnson & Johnson in the second quarter valued at about $66,000. Finally, Sanctuary Wealth Management L.L.C. purchased a new position in Johnson & Johnson in the second quarter valued at about $109,000. Institutional investors and hedge funds own 68.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on JNJ. Wells Fargo & Company lowered their price objective on Johnson & Johnson from $195.00 to $186.00 and set an “overweight” rating on the stock in a report on Thursday, August 31st. Stifel Nicolaus raised their target price on Johnson & Johnson from $165.00 to $175.00 in a report on Friday, July 21st. Atlantic Securities raised their target price on Johnson & Johnson from $167.00 to $170.00 and gave the company a “neutral” rating in a report on Friday, August 4th. Royal Bank of Canada started coverage on Johnson & Johnson in a research report on Wednesday, October 4th. They issued an “outperform” rating and a $178.00 price objective for the company. Finally, Credit Suisse Group raised their target price on Johnson & Johnson from $170.00 to $175.00 and gave the stock a “neutral” rating in a research report on Friday, July 21st. Eight investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $171.00.

View Our Latest Report on Johnson & Johnson

Johnson & Johnson Stock Up 0.3 %

NYSE JNJ opened at $156.85 on Monday. Johnson & Johnson has a fifty-two week low of $150.11 and a fifty-two week high of $181.04. The stock has a market capitalization of $407.65 billion, a PE ratio of 31.75, a PEG ratio of 3.21 and a beta of 0.55. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.12 and a quick ratio of 0.88. The business has a fifty day moving average price of $163.10 and a two-hundred day moving average price of $162.57.

Johnson & Johnson (NYSE:JNJ – Get Free Report) last posted its quarterly earnings data on Thursday, July 20th. The company reported $2.80 earnings per share 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 the consensus estimate of $24.63 billion. Johnson & Johnson had a return on equity of 36.72% and a net margin of 13.35%. Johnson & Johnson’s quarterly revenue was up 6.3% on a year-over-year basis. During the same period in the prior year, the business posted $2.59 earnings per share. Equities analysts expect that Johnson & Johnson will post 10.02 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 7th. Shareholders of record on Monday, August 28th were issued a dividend of $1.19 per share. The ex-dividend date was Friday, August 25th. This represents a $4.76 dividend on an annualized basis and a yield of 3.03%. Johnson & Johnson’s payout ratio is currently 96.36%.

Insiders Place Their Bets

In related news, VP Peter Fasolo sold 20,000 shares of the firm’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 owns 102,696 shares of the company’s stock, valued at approximately $17,491,182.72. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, VP Peter Fasolo sold 20,000 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the vice president now owns 102,696 shares in the company, valued at approximately $17,491,182.72. The sale 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 Johnson & Johnson stock in a transaction that occurred 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 completion of the transaction, the insider now owns 87,747 shares of the company’s stock, valued at $15,092,484. The disclosure for this sale can be found here. Company 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.