Johnson & Johnson (NYSE:JNJ) Shares Acquired by Verity & Verity LLC

Posted by MarketBeat News on Jan 9th, 2023

Verity & Verity LLC increased its stake in Johnson & Johnson (NYSE:JNJ – Get Rating) by 4.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 74,611 shares of the company’s stock after purchasing an additional 3,210 shares during the quarter. Johnson & Johnson comprises about 2.0% of Verity & Verity LLC’s portfolio, making the stock its 18th biggest holding. Verity & Verity LLC’s holdings in Johnson & Johnson were worth $12,188,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. RKL Wealth Management LLC lifted its holdings in Johnson & Johnson by 2.1% in the 2nd quarter. RKL Wealth Management LLC now owns 48,233 shares of the company’s stock valued at $8,562,000 after acquiring an additional 1,010 shares during the last quarter. Geller Advisors LLC lifted its holdings in Johnson & Johnson by 7.5% in the 2nd quarter. Geller Advisors LLC now owns 9,260 shares of the company’s stock valued at $1,644,000 after acquiring an additional 648 shares during the last quarter. Simon Quick Advisors LLC lifted its holdings in Johnson & Johnson by 296.9% in the 2nd quarter. Simon Quick Advisors LLC now owns 8,739 shares of the company’s stock valued at $1,495,000 after acquiring an additional 6,537 shares during the last quarter. Lokken Investment Group LLC lifted its holdings in Johnson & Johnson by 1.6% in the 2nd quarter. Lokken Investment Group LLC now owns 12,968 shares of the company’s stock valued at $2,302,000 after acquiring an additional 201 shares during the last quarter. Finally, Keebeck Alpha LP lifted its holdings in Johnson & Johnson by 13.4% in the 2nd quarter. Keebeck Alpha LP now owns 4,442 shares of the company’s stock valued at $788,000 after acquiring an additional 525 shares during the last quarter. Institutional investors and hedge funds own 67.94% of the company’s stock.

Johnson & Johnson Trading Up 0.8 %

Shares of NYSE JNJ opened at $180.25 on Monday. The stock has a market cap of $471.26 billion, a price-to-earnings ratio of 25.10, a PEG ratio of 3.45 and a beta of 0.56. The business has a 50 day simple moving average of $176.05 and a 200 day simple moving average of $171.65. Johnson & Johnson has a 52 week low of $155.72 and a 52 week high of $186.69. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.18 and a current ratio of 1.43.

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Johnson & Johnson (NYSE:JNJ – Get Rating) last announced its quarterly earnings results on Tuesday, October 18th. The company reported $2.55 EPS for the quarter, beating the consensus estimate of $2.49 by $0.06. The business had revenue of $23.79 billion during the quarter, compared to analysts’ expectations of $23.44 billion. Johnson & Johnson had a return on equity of 35.37% and a net margin of 19.95%. The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.60 EPS. On average, research analysts predict that Johnson & Johnson will post 10.04 earnings per share for the current fiscal year.

Johnson & Johnson declared that its board has initiated a stock buyback program on Wednesday, September 14th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the company to purchase up to 1.2% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Johnson & Johnson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 7th. Shareholders of record on Tuesday, February 21st will be given a dividend of $1.13 per share. The ex-dividend date is Friday, February 17th. This represents a $4.52 dividend on an annualized basis and a yield of 2.51%. Johnson & Johnson’s payout ratio is currently 62.95%.

Insiders Place Their Bets

In other Johnson & Johnson news, VP Peter Fasolo sold 22,864 shares of the company’s stock in a transaction that occurred on Wednesday, October 19th. The stock was sold at an average price of $164.50, for a total transaction of $3,761,128.00. Following the completion of the sale, the vice president now owns 114,676 shares of the company’s stock, valued at $18,864,202. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, VP Peter Fasolo sold 22,864 shares of the stock in a transaction that occurred on Wednesday, October 19th. The stock was sold at an average price of $164.50, for a total value of $3,761,128.00. Following the completion of the sale, the vice president now directly owns 114,676 shares of the company’s stock, valued at $18,864,202. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Joseph J. Wolk sold 14,781 shares of the stock in a transaction that occurred on Tuesday, December 13th. The shares were sold at an average price of $179.60, for a total value of $2,654,667.60. Following the completion of the sale, the chief financial officer now directly owns 35,812 shares of the company’s stock, valued at $6,431,835.20. The disclosure for this sale can be found here. Insiders sold 300,750 shares of company stock valued at $52,311,677 over the last 90 days. 0.35% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

JNJ has been the subject of a number of research analyst reports. Sanford C. Bernstein cut their price target on shares of Johnson & Johnson from $194.00 to $190.00 in a report on Wednesday, October 19th. Atlantic Securities cut their price objective on Johnson & Johnson from $165.00 to $160.00 and set a “neutral” rating on the stock in a report on Wednesday, October 19th. Morgan Stanley cut their price objective on Johnson & Johnson from $178.00 to $176.00 and set an “equal weight” rating on the stock in a report on Tuesday, December 6th. Credit Suisse Group initiated coverage on Johnson & Johnson in a report on Thursday, November 17th. They set a “neutral” rating and a $170.00 price objective on the stock. Finally, Citigroup boosted their price objective on Johnson & Johnson from $198.00 to $205.00 and gave the stock a “buy” rating in a report on Monday, December 12th. Seven analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $182.42.

Johnson & Johnson Profile

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Johnson & Johnson, together with its subsidiaries, researches and develops, manufactures, and sells various products in the healthcare field worldwide. The company's Consumer Health segment offers baby care products under the JOHNSON'S and AVEENO Baby brands; oral care products under the LISTERINE brand; skin health/beauty products under the AVEENO, CLEAN & CLEAR, DR.