Diversified Trust Co Increases Stake in Johnson & Johnson (NYSE:JNJ)

Defense World · Mar 26, 2023 20:32

Diversified Trust Co boosted its stake in shares of Johnson & Johnson (NYSE:JNJ – Get Rating) by 10.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 130,708 shares of the company's stock after purchasing an additional 12,381 shares during the period. Johnson & Johnson makes up about 1.0% of Diversified Trust Co's portfolio, making the stock its 16th biggest position. Diversified Trust Co's holdings in Johnson & Johnson were worth $23,090,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of JNJ. Lowe Wealth Advisors LLC grew its holdings in shares of Johnson & Johnson by 15.5% during the fourth quarter. Lowe Wealth Advisors LLC now owns 1,134 shares of the company's stock valued at $200,000 after buying an additional 152 shares during the last quarter. AHL Investment Management Inc. grew its stake in Johnson & Johnson by 4.7% during the 4th quarter. AHL Investment Management Inc. now owns 13,934 shares of the company's stock valued at $2,461,000 after purchasing an additional 621 shares during the last quarter. Steigerwald Gordon & Koch Inc. increased its holdings in shares of Johnson & Johnson by 2.3% in the fourth quarter. Steigerwald Gordon & Koch Inc. now owns 95,949 shares of the company's stock valued at $16,949,000 after purchasing an additional 2,145 shares during the period. Douglas Lane & Associates LLC raised its stake in shares of Johnson & Johnson by 10.4% in the fourth quarter. Douglas Lane & Associates LLC now owns 397,698 shares of the company's stock worth $70,253,000 after purchasing an additional 37,478 shares during the last quarter. Finally, AMI Asset Management Corp lifted its holdings in shares of Johnson & Johnson by 14.4% during the fourth quarter. AMI Asset Management Corp now owns 4,716 shares of the company's stock worth $833,000 after purchasing an additional 592 shares during the period. Institutional investors and hedge funds own 67.94% of the company's stock.

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Analyst Ratings Changes

JNJ has been the subject of several research reports. Morgan Stanley lifted their price objective on shares of Johnson & Johnson from $176.00 to $180.00 and gave the company an "equal weight" rating in a research note on Wednesday, January 25th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $215.00 price target on shares of Johnson & Johnson in a report on Wednesday, February 1st. Guggenheim began coverage on Johnson & Johnson in a research note on Tuesday, February 28th. They set a "neutral" rating and a $161.00 price objective for the company. Piper Sandler lowered their target price on Johnson & Johnson from $55.00 to $52.00 in a research note on Monday, February 6th. Finally, Atlantic Securities boosted their price target on Johnson & Johnson from $160.00 to $168.00 and gave the company a "neutral" rating in a report on Wednesday, January 25th. Seven investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $174.73.

Insiders Place Their Bets

In other news, insider James D. Swanson sold 1,062 shares of the firm's stock in a transaction dated Monday, March 6th. The shares were sold at an average price of $154.66, for a total value of $164,248.92. Following the transaction, the insider now directly owns 9,215 shares of the company's stock, valued at $1,425,191.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.35% of the stock is currently owned by corporate insiders.

Johnson & Johnson Stock Performance

NYSE:JNJ opened at $152.65 on Friday. The company has a fifty day moving average of $159.76 and a two-hundred day moving average of $167.55. Johnson & Johnson has a fifty-two week low of $150.11 and a fifty-two week high of $186.69. The stock has a market capitalization of $397.54 billion, a PE ratio of 22.65, a P/E/G ratio of 2.60 and a beta of 0.54. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.77 and a current ratio of 0.99.

Johnson & Johnson (NYSE:JNJ – Get Rating) last posted its quarterly earnings data on Tuesday, January 24th. The company reported $2.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.22 by $0.13. Johnson & Johnson had a return on equity of 35.76% and a net margin of 18.90%. The company had revenue of $23.71 billion for the quarter, compared to analysts' expectations of $23.90 billion. During the same period in the previous year, the firm posted $2.13 EPS. Johnson & Johnson's revenue was down 4.4% compared to the same quarter last year. As a group, research analysts forecast that Johnson & Johnson will post 10.5 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 7th. Shareholders of record on Tuesday, February 21st were issued a $1.13 dividend. The ex-dividend date was Friday, February 17th. This represents a $4.52 dividend on an annualized basis and a yield of 2.96%. Johnson & Johnson's payout ratio is currently 67.06%.

About Johnson & Johnson

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Johnson & Johnson is a holding company, which engages in the research and development, manufacture and sale of products in the health care field. It operates through the following segments: Consumer Health, Pharmaceutical, and MedTech. The Consumer Health segment includes products focused on personal healthcare used in the Skin Health/Beauty, Over-the-Counter medicines, Baby Care, Oral Care, Women's Health and Wound Care markets.