VestGen Advisors LLC has decreased its holdings in Johnson & Johnson (NYSE: JNJ) by 5.0% during the second quarter of 2023. According to a report from Holdings Channel, the investment firm now owns 29,995 shares of the healthcare giant after selling 1,591 shares in the recent quarter. As of the most recent filing with the Securities and Exchange Commission, VestGen’s stake in Johnson & Johnson is valued at approximately $4.7 million.
Several other institutional investors have also adjusted their positions in Johnson & Johnson. Estabrook Capital Management increased its holdings by 0.4%, now owning 91,754 shares worth about $14 million. Similarly, Bernardo Wealth Planning LLC raised its stake by 1.7%, bringing its total to 6,606 shares valued at $1.01 million.
BLI Banque de Luxembourg Investments made a significant move, boosting its stake by 86.1% during the same period, resulting in ownership of 131,399 shares valued at $20 million. Martin & Co. Inc. TN grew its position by 0.7%, now holding 15,958 shares worth $2.44 million, while First National Advisers LLC increased its stake by 1.2%, owning 13,932 shares valued at $2.13 million. Notably, institutional investors and hedge funds collectively own 69.55% of Johnson & Johnson’s stock.
Current Stock Performance and Dividends
As of Monday, shares of Johnson & Johnson opened at $206.89. The company has a market capitalization of $498.46 billion, a price-to-earnings (P/E) ratio of 19.97, and a beta of 0.38. Financial metrics indicate a current ratio of 1.07, a quick ratio of 0.80, and a debt-to-equity ratio of 0.50. Over the past year, the stock has reached a low of $140.68 and a high of $207.81, with a 50-day moving average of $191.33 and a 200-day moving average of $173.72.
The company also announced a quarterly dividend of $1.30 per share, set to be paid on December 9, 2023. Shareholders of record on November 25, 2023, will receive this dividend, reflecting an annualized rate of $5.20 and a dividend yield of 2.5%. Johnson & Johnson’s dividend payout ratio stands at 50.19%.
Insider Transactions and Analyst Ratings
In a recent insider transaction, Executive Vice President Jennifer L. Taubert sold 56,471 shares of Johnson & Johnson on September 4, 2023, at an average price of $177.81, resulting in a total transaction amount of approximately $10.04 million. Following this sale, Taubert retains 178,013 shares valued at approximately $31.65 million, marking a 24.08% reduction in her holdings. Currently, corporate insiders own 0.16% of the company’s stock.
Johnson & Johnson has received a variety of ratings from analysts. Morgan Stanley set a price target of $190.00 on October 15, 2023, while Wells Fargo & Company established a target of $212.00 with an “overweight” rating on October 3, 2023. UBS Group has raised its target to $214.00 and issued a “buy” rating as of October 14, 2023. Royal Bank of Canada reaffirmed an “outperform” rating with a target of $209.00 on October 10, 2023. Johnson Rice maintained a target of $190.00 and a “hold” rating on October 22, 2023. Overall, research indicates that four analysts rate the stock as a Strong Buy, thirteen as a Buy, and nine as a Hold, reflecting an average rating of “Moderate Buy” with a consensus target price of $201.05.
Johnson & Johnson is a leading holding company engaged in the research, development, manufacture, and sale of healthcare products, operating through its Innovative Medicine and MedTech segments, which focus on various therapeutic areas including oncology, immunology, and cardiovascular health.
