Mattern Capital Management LLC Buys 606 Johnson & Johnson (NYSE:JNJ) Shares

VaselineSeptember 6, 2024

0 4 minutes read

Mattern Capital Management LLC raised its stake in Johnson & Johnson (NYSE:JNJ – Free Report) by 1.3% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 48,797 shares of the company’s stock after purchasing an additional 606 shares during the quarter. Mattern Capital Management LLC’s holdings in Johnson & Johnson were worth $7,132,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have added to or reduced their stakes in the stock. Norges Bank purchased a new position in Johnson & Johnson during the fourth quarter valued at approximately $4,071,642,000. Wellington Management Group LLP boosted its holdings in Johnson & Johnson by 16.4% in the fourth quarter. Wellington Management Group LLP now owns 24,019,725 shares of the company’s stock valued at $3,764,852,000 after purchasing an additional 3,391,657 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of Johnson & Johnson by 16.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 21,834,359 shares of the company’s stock valued at $3,453,978,000 after buying an additional 3,139,499 shares during the last quarter. Ninety One UK Ltd boosted its holdings in shares of Johnson & Johnson by 59.0% in the second quarter. Ninety One UK Ltd now owns 6,708,943 shares of the company’s stock worth $980,579,000 after purchasing an additional 2,489,925 shares during the period. Finally, Swedbank AB bought a new stake in Johnson & Johnson in the first quarter valued at $331,178,000. Hedge funds and other institutional investors own 69.55% of the company’s shares.

Insider buying and selling

In other Johnson & Johnson news, VP Robert J. Decker sold 5,635 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $165.06, for a total value of $930,113.10. Following the completion of the sale, the vice president now owns 18,973 shares in the company, valued at approximately $3,131,683.38. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.16% of shares are owned by insiders.

Analyst upgrades and downgrades

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JNJ has been the subject of a number of research analyst reports. Cantor Fitzgerald restated an “overweight” rating and issued a $215.00 target price on shares of Johnson & Johnson in a report on Tuesday. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $175.00 target price on shares of Johnson & Johnson in a research note on Tuesday, July 30th. Morgan Stanley upped their target price on shares of Johnson & Johnson from $167.00 to $169.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 18th. Goldman Sachs Group decreased their price objective on shares of Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating on the stock in a research report on Friday, July 19th. Finally, StockNews.com upgraded shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 16th. Seven analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Moderate Buy” and an average target price of $173.21, according to MarketBeat .

Check out our latest report on Johnson & Johnson

Johnson & Johnson price performance

JNJ opened at $164.99 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.07, and a quick ratio of 0.85. The stock’s 50-day simple moving average is $157.21 and its 200-day simple moving average is $153.78. The firm has a market cap of $397.08 billion, a price-to-earnings ratio of 10.29, a PEG ratio of 2.73 and a beta of 0.52. Johnson & Johnson has a 1 year low of $143.13 and a 1 year high of $168.85.

Johnson & Johnson (NYSE:JNJ – Get Your Free Report ) last issued its earnings results on Wednesday, July 17th. The company reported $2.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.71 by $0.11. Johnson & Johnson had a net margin of 46.34% and a return on equity of 36.60%. The firm had revenue of $22.45 billion for the quarter, compared to analysts’ expectations of $22.33 billion. In the same quarter last year, the company earned $2.80 per share. The company’s revenue rose 4.3% year-over-year. As a group, analysts forecast that Johnson & Johnson will post 10.02 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 27th will be issued a dividend of $1.24 per share. The ex-dividend date is Tuesday, August 27. This represents a dividend of $4.96 on an annualized basis and a dividend yield of 3.01%. Johnson & Johnson’s dividend payout ratio is currently 30.92%.

Johnson & Johnson Company Profile

(Free report)

Johnson & Johnson, together with its subsidiaries, researches, develops, manufactures and sells various health products worldwide. The company’s Innovative Medicines segment offers products for various therapeutic areas such as immunology, including rheumatoid arthritis, psoriatic arthritis, inflammatory bowel disease and psoriasis; infectious diseases including HIV/AIDS; neuroscience, consisting of mood disorders, neurodegenerative disorders and schizophrenia; oncology, such as prostate cancer, hematological malignancies, lung cancer and bladder cancer; cardiovascular and metabolic, including thrombosis, diabetes and macular degeneration; and pulmonary hypertension including pulmonary arterial hypertension through retailers, wholesalers, distributors, hospitals and healthcare professionals for prescription use.