Nixon Peabody Trust Co. Invests $290,000 in Johnson & Johnson (NYSE:JNJ)

Posted by Defense World Staff on May 17th, 2023

Nixon Peabody Trust Co. bought a new position in Johnson & Johnson (NYSE:JNJ – Get Rating) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 1,639 shares of the company’s stock, valued at approximately $290,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in JNJ. Glassy Mountain Advisors Inc. purchased a new position in shares of Johnson & Johnson in the fourth quarter valued at $35,000. Retirement Financial Solutions LLC purchased a new position in shares of Johnson & Johnson in the fourth quarter valued at $40,000. TD Capital Management LLC purchased a new position in shares of Johnson & Johnson in the third quarter valued at $48,000. VitalStone Financial LLC purchased a new position in shares of Johnson & Johnson in the fourth quarter valued at $52,000. Finally, Iron Horse Wealth Management LLC grew its holdings in shares of Johnson & Johnson by 112.8% in the fourth quarter. Iron Horse Wealth Management LLC now owns 300 shares of the company’s stock valued at $53,000 after purchasing an additional 159 shares in the last quarter. 67.94% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

JNJ has been the subject of several research analyst reports. Piper Sandler decreased their target price on Johnson & Johnson from $55.00 to $52.00 in a research report on Monday, February 6th. SVB Leerink reduced their target price on shares of Johnson & Johnson from $194.00 to $186.00 and set an “outperform” rating for the company in a report on Friday, January 20th. UBS Group started coverage on shares of Johnson & Johnson in a report on Tuesday, March 28th. They set a “neutral” rating and a $164.00 price objective on the stock. Raymond James cut their price objective on shares of Johnson & Johnson from $185.00 to $181.00 and set an “outperform” rating on the stock in a report on Wednesday, April 19th. Finally, Atlantic Securities cut their price objective on shares of Johnson & Johnson from $168.00 to $167.00 and set a “neutral” rating on the stock in a report on Wednesday, April 19th. Seven equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $173.00.

Insider Activity at Johnson & Johnson

In other news, insider James D. Swanson sold 1,062 shares of Johnson & Johnson stock in a transaction dated Monday, March 6th. The stock was sold at an average price of $154.66, for a total value of $164,248.92. Following the completion of the transaction, the insider now owns 9,215 shares in the company, valued at approximately $1,425,191.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.20% of the stock is currently owned by company insiders.

Johnson & Johnson Stock Down 0.1 %

Shares of JNJ opened at $159.34 on Wednesday. Johnson & Johnson has a 52-week low of $150.11 and a 52-week high of $183.35. The company has a market capitalization of $414.08 billion, a PE ratio of 33.33, a price-to-earnings-growth ratio of 2.74 and a beta of 0.53. The stock has a fifty day simple moving average of $159.29 and a two-hundred day simple moving average of $166.49. The company has a quick ratio of 0.85, a current ratio of 1.07 and a debt-to-equity ratio of 0.49.

Johnson & Johnson (NYSE:JNJ – Get Rating) last issued its earnings results on Tuesday, April 18th. The company reported $2.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.51 by $0.17. Johnson & Johnson had a return on equity of 36.13% and a net margin of 13.22%. The business had revenue of $24.75 billion during the quarter, compared to the consensus estimate of $23.61 billion. During the same period last year, the company earned $2.67 EPS. The company’s revenue for the quarter was up 5.6% on a year-over-year basis. As a group, equities analysts forecast that Johnson & Johnson will post 10.66 EPS for the current year.

Johnson & Johnson Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 6th. Investors of record on Tuesday, May 23rd will be issued a dividend of $1.19 per share. This represents a $4.76 dividend on an annualized basis and a yield of 2.99%. This is a boost from Johnson & Johnson’s previous quarterly dividend of $1.13. The ex-dividend date is Monday, May 22nd. Johnson & Johnson’s dividend payout ratio (DPR) is 94.56%.

Johnson & Johnson Company Profile

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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.