Johnson & Johnson (NYSE:JNJ) Stock Position Lessened by Conestoga Capital Advisors LLC

Posted by Defense World Staff on Oct 23rd, 2023

Conestoga Capital Advisors LLC lowered its position in shares of Johnson & Johnson (NYSE:JNJ – Free Report) by 9.5% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,330 shares of the company’s stock after selling 350 shares during the quarter. Conestoga Capital Advisors LLC’s holdings in Johnson & Johnson were worth $551,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Peak Asset Management LLC boosted its position in shares of Johnson & Johnson by 9.3% in the 1st quarter. Peak Asset Management LLC now owns 13,789 shares of the company’s stock valued at $2,137,000 after purchasing an additional 1,171 shares during the period. Nisa Investment Advisors LLC boosted its position in shares of 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 purchasing an additional 6,836 shares during the period. Vaughan Nelson Investment Management L.P. boosted its position in shares of Johnson & Johnson by 21.8% in 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 period. Tekla Capital Management LLC boosted its position in shares of Johnson & Johnson by 12.8% in the 1st quarter. Tekla Capital Management LLC now owns 721,779 shares of the company’s stock valued at $111,876,000 after purchasing an additional 82,100 shares during the period. Finally, Franklin Street Advisors Inc. NC boosted its position in shares of Johnson & Johnson by 0.7% in the 2nd 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 during the period. Institutional investors own 68.40% of the company’s stock.

Johnson & Johnson Stock Performance

JNJ opened at $153.00 on Monday. The firm has a market capitalization of $397.64 billion, a P/E ratio of 11.36, a price-to-earnings-growth ratio of 3.09 and a beta of 0.55. The stock’s 50 day moving average price is $161.23 and its two-hundred day moving average price is $162.45. 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 has a 12-month low of $150.11 and a 12-month high of $181.04.

Johnson & Johnson (NYSE:JNJ – Get Free Report) last released its earnings results 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 firm had revenue of $25.53 billion for the quarter, compared to analyst estimates of $24.63 billion. Johnson & Johnson had a return on equity of 36.71% and a net margin of 36.32%. The company’s revenue was up 6.3% on a year-over-year basis. During the same quarter last year, the firm posted $2.59 EPS. On average, equities analysts forecast that Johnson & Johnson will post 10.1 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 5th. Stockholders of record on Tuesday, November 21st will be issued a dividend of $1.19 per share. This represents a $4.76 annualized dividend and a dividend yield of 3.11%. The ex-dividend date is Monday, November 20th. Johnson & Johnson’s payout ratio is presently 35.34%.

Analyst Ratings Changes

A number of research firms recently weighed in on JNJ. StockNews.com lowered Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 18th. Wells Fargo & Company cut their price target on Johnson & Johnson from $195.00 to $186.00 and set an “overweight” rating for the company in a research note on Thursday, August 31st. HSBC assumed coverage on Johnson & Johnson in a research note on Wednesday, September 6th. They set a “hold” rating and a $175.00 price target for the company. JPMorgan Chase & Co. raised their price target on Johnson & Johnson from $175.00 to $180.00 and gave the stock a “neutral” rating in a research note on Friday, July 21st. Finally, TheStreet raised Johnson & Johnson from a “c+” rating to a “b+” rating in a research note on Monday, August 21st. Eight equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $169.19.

Read Our Latest Research Report on Johnson & Johnson

Insider Transactions at Johnson & Johnson

In other news, insider William Hait sold 14,698 shares of Johnson & Johnson stock in a transaction that occurred on 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 sale, the insider now owns 87,747 shares of the company’s stock, valued at approximately $15,092,484. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider William Hait sold 14,698 shares of Johnson & Johnson stock in a transaction that occurred on 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 sale, the insider now owns 87,747 shares of the company’s stock, valued at approximately $15,092,484. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Peter Fasolo sold 20,000 shares of Johnson & Johnson stock in a transaction that occurred on Tuesday, July 25th. The stock was 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 in the company, valued at approximately $17,491,182.72. The disclosure for this sale can be found here. 0.20% of the stock is owned by insiders.

About Johnson & Johnson

(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.