Linscomb Wealth Inc. increases stake in Johnson & Johnson (NYSE:JNJ)

VaselineSeptember 13, 2024

0 4 minutes read

Linscomb Wealth Inc. boosted its position in shares of Johnson & Johnson (NYSE:JNJ – Free Report) by 1.0% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 69,675 shares of the company’s stock after buying an additional 720 shares during the quarter. Holdings held by Linscomb Wealth Inc. holdings in Johnson & Johnson were worth $10,184,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Meridian Financial Partners LLC acquired a new stake in Johnson & Johnson during the 2nd quarter valued at $1,626,000. Summit Financial Wealth Advisors LLC lifted its position in shares of Johnson & Johnson by 26.3% in the first quarter. Summit Financial Wealth Advisors LLC now owns 5,392 shares of the company’s stock valued at $853,000 after purchasing an additional 1,122 shares during the last quarter. Gilbert & Cook Inc. raised its stake in shares of Johnson & Johnson by 3.3% during the fourth quarter. Gilbert & Cook Inc. now owns 9,111 shares of the company’s stock valued at $1,428,000 after purchasing an additional 288 shares during the last quarter. Franklin Parlapiano Turner & Welch LLC grew its position in Johnson & Johnson by 0.7% in the first quarter. Franklin Parlapiano Turner & Welch LLC now owns 47,186 shares of the company’s stock worth $7,464,000 after purchasing an additional 325 shares in the last quarter. Finally, Capital Asset Advisory Services LLC boosted its holdings in Johnson & Johnson by 8.8% in the first quarter. Capital Asset Advisory Services LLC now owns 26,539 shares of the company’s stock valued at $4,044,000 after purchasing an additional 2,151 shares in the last quarter. Institutional investors and hedge funds own 69.55% of the company’s shares.

Johnson & Johnson price performance

JNJ opened at $164.64 on Friday. The company has a 50 day moving average of $159.17 and a two hundred day moving average of $154.00. Johnson & Johnson has a 52-week low of $143.13 and a 52-week high of $168.85. The company has a quick ratio of 0.85, a current ratio of 1.07, and a debt-to-equity ratio of 0.44. The company has a market cap of $396.24 billion, a P/E ratio of 10.26, a P/E/G ratio of 2.71 and a beta of 0.53.

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Johnson & Johnson (NYSE:JNJ – Get Free Report ) last announced its quarterly earnings results on Wednesday, July 17th. The company reported $2.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.71 by $0.11. The firm had revenue of $22.45 billion during the quarter, compared to the consensus estimate of $22.33 billion. Johnson & Johnson had a return on equity of 36.60% and a net margin of 46.34%. The company’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.80 EPS. On average, analysts expect that Johnson & Johnson will post 10.02 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Tuesday, August 27th were given a dividend of $1.24 per share. This represents an annualized dividend of $4.96 and a yield of 3.01%. The ex-dividend date of this dividend was Tuesday, August 27th. Johnson & Johnson’s dividend payout ratio (DPR) is currently 30.92%.

The Wall Street analyst weighs in

A number of brokerages have recently commented on JNJ. TD Cowen cut their price target on shares of Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating for the company in a report on Thursday, July 18th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $215.00 target price on shares of Johnson & Johnson in a report on Monday. TD Securities decreased their price objective on Johnson & Johnson from $195.00 to $185.00 in a report on Thursday, July 18th. StockNews.com lowered Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 6th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $175.00 target price on shares of Johnson & Johnson in a research note on Tuesday, July 30th. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company currently has an average rating of “Moderate Buy” and a consensus price target of $173.21, according to MarketBeat.

View Johnson & Johnson’s latest stock report

Insider buying and selling at Johnson & Johnson

In other news, VP Robert J. Decker sold 5,635 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $165.06, for a total value of $930,113.10. Following the completion of the transaction, the vice president now directly owns 18,973 shares in the company, valued at $3,131,683.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available on the SEC’s website. 0.16% of shares are held by corporate insiders.

About Johnson & Johnson

(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.