Trustmark Bank Trust Department has reduced its holdings in Johnson & Johnson (NYSE: JNJ) by 34% during the second quarter of 2023, according to data from Holdings Channel. The bank now owns 5,145 shares of the healthcare giant, following the sale of 2,652 shares during this period. As of the end of June, Trustmark’s stake in Johnson & Johnson was valued at approximately $786,000.
In addition to Trustmark, several institutional investors have adjusted their positions in Johnson & Johnson recently. Brighton Jones LLC increased its holdings by 13.9% in the fourth quarter, now owning 51,876 shares valued at $7.5 million after acquiring an additional 6,332 shares. Similarly, Smart Money Group LLC expanded its stake by 6.5% in the first quarter, bringing its total to 6,687 shares worth $1.1 million.
United Bank made a significant move by increasing its stake by 110.7% during the first quarter. It now holds 9,279 shares valued at $1.5 million after buying 4,876 additional shares. OVERSEA CHINESE BANKING Corp Ltd saw a remarkable 330.2% rise in its holdings, acquiring 21,017 shares valued at $3.4 million following a purchase of 16,132 shares. Banco Santander S.A. also bolstered its position by 44.7%, now owning 59,023 shares worth $9.8 million. Collectively, institutional investors own approximately 69.55% of Johnson & Johnson’s stock.
Executive Stock Transactions and Analyst Insights
In related news, Jennifer L. Taubert, Executive Vice President of Johnson & Johnson, sold 56,471 shares on September 4, 2023, at an average price of $177.81. The total transaction amounted to $10,041,108.51, reducing her ownership by 24.08%. Following this transaction, Taubert retains 178,013 shares valued at around $31.7 million. Insiders currently own 0.16% of the company’s stock.
Johnson & Johnson opened trading on Monday at $206.89. The stock has seen a 50-day moving average price of $191.33 and a 200-day moving average price of $173.72. With a market capitalization of $498.46 billion, the company has a price-to-earnings ratio of 19.97 and a PEG ratio of 2.19. Its debt-to-equity ratio stands at 0.50, while the current and quick ratios are 1.07 and 0.80, respectively. Over the past year, Johnson & Johnson’s stock has fluctuated between a low of $140.68 and a high of $207.81.
Analysts expect Johnson & Johnson to report an earnings per share (EPS) of $10.58 for the current fiscal year, following its latest quarterly earnings announcement on August 30, 2023, which revealed an EPS of $2.26. The company reported a net margin of 27.26% and a return on equity of 32.73%, with total revenue reaching $24.02 billion for the quarter.
Upcoming Dividend and Company Overview
In addition to its stock performance, Johnson & Johnson has announced a quarterly dividend of $1.30, set to be distributed on December 9, 2023. Shareholders of record on November 25 will be eligible for this dividend, which represents an annualized total of $5.20 and a yield of 2.5%. The company’s current dividend payout ratio is 50.19%.
Johnson & Johnson operates as a holding company, focusing on the research, development, manufacturing, and sale of healthcare products. The company is divided into two main segments: Innovative Medicine and MedTech. The Innovative Medicine segment addresses various health conditions, including immunology, infectious diseases, and oncology, while MedTech focuses on medical devices and technologies.
For further insights into investment activity, investors can visit HoldingsChannel.com for the latest filings and insider trades related to Johnson & Johnson.
