Posted by Defense World Staff on Jan 26th, 2024
Spinnaker Investment Group LLC increased its stake in Johnson & Johnson (NYSE:JNJ – Free Report) by 0.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,582 shares of the company’s stock after acquiring an additional 72 shares during the period. Johnson & Johnson makes up about 0.6% of Spinnaker Investment Group LLC’s holdings, making the stock its 19th largest holding. Spinnaker Investment Group LLC’s holdings in Johnson & Johnson were worth $1,804,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also modified their holdings of the stock. Hibernia Wealth Partners LLC acquired a new stake in shares of Johnson & Johnson during the 3rd quarter valued at approximately $27,000. FNY Investment Advisers LLC acquired a new position in Johnson & Johnson in the 3rd quarter valued at $37,000. Creative Capital Management Investments LLC raised its holdings in Johnson & Johnson by 43.0% in the 3rd quarter. Creative Capital Management Investments LLC now owns 286 shares of the company’s stock valued at $45,000 after acquiring an additional 86 shares during the last quarter. VitalStone Financial LLC acquired a new position in Johnson & Johnson in the 2nd quarter valued at $48,000. Finally, Bay Harbor Wealth Management LLC acquired a new position in Johnson & Johnson in the 2nd quarter valued at $66,000. 68.40% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
JNJ has been the subject of a number of research reports. Wells Fargo & Company cut shares of Johnson & Johnson from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $170.00 to $163.00 in a research report on Wednesday, December 13th. UBS Group upgraded shares of Johnson & Johnson from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $167.00 to $180.00 in a research note on Friday, December 1st. Morgan Stanley decreased their target price on shares of Johnson & Johnson from $170.00 to $169.00 and set an “equal weight” rating for the company in a research report on Wednesday. Cantor Fitzgerald reiterated an “overweight” rating and issued a $215.00 price objective on shares of Johnson & Johnson in a report on Tuesday. Finally, Royal Bank of Canada restated an “outperform” rating and set a $181.00 target price on shares of Johnson & Johnson in a report on Wednesday. Eight research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $167.87.
View Our Latest Stock Analysis on Johnson & Johnson
Johnson & Johnson Trading Up 0.5 %
NYSE:JNJ traded up $0.80 during mid-day trading on Friday, hitting $160.36. 716,205 shares of the company’s stock were exchanged, compared to its average volume of 6,171,514. The company has a 50 day simple moving average of $156.93 and a 200-day simple moving average of $159.24. The firm has a market capitalization of $386.03 billion, a P/E ratio of 11.56, a PEG ratio of 3.07 and a beta of 0.53. The company has a current ratio of 1.21, a quick ratio of 0.96 and a debt-to-equity ratio of 0.37. Johnson & Johnson has a fifty-two week low of $144.95 and a fifty-two week high of $175.97.
Johnson & Johnson (NYSE:JNJ – Get Free Report) last issued its quarterly earnings results on Tuesday, January 23rd. The company reported $2.29 earnings per share for the quarter, topping analysts’ consensus estimates of $2.28 by $0.01. Johnson & Johnson had a net margin of 37.79% and a return on equity of 36.75%. The company had revenue of $21.40 billion for the quarter, compared to the consensus estimate of $21.02 billion. During the same period in the previous year, the firm earned $2.35 EPS. The firm’s quarterly revenue was down 9.7% on a year-over-year basis. As a group, research analysts expect that Johnson & Johnson will post 10.69 earnings per share for the current year.
Johnson & Johnson Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 5th. Shareholders of record on Tuesday, February 20th will be given a dividend of $1.19 per share. This represents a $4.76 dividend on an annualized basis and a yield of 2.97%. The ex-dividend date of this dividend is Friday, February 16th. Johnson & Johnson’s payout ratio is currently 34.47%.
About Johnson & Johnson
Johnson & Johnson, together with its subsidiaries, researches, develops, manufactures, and sells various products in the healthcare field worldwide. The company's Consumer Health segment provides skin health/beauty products under the AVEENO, CLEAN & CLEAR, DR. CI:LABO, NEUTROGENA, and OGX brands; baby care products under the JOHNSON'S and AVEENO Baby brands; oral care products under the LISTERINE brand; TYLENOL acetaminophen products; SUDAFED cold, flu, and allergy products; BENADRYL and ZYRTEC allergy products; MOTRIN IB ibuprofen products; NICORETTE smoking cessation products; and PEPCID acid reflux products.
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As an expert in financial markets and investment strategies, with years of experience in analyzing market trends and investment opportunities, I can confidently delve into the concepts and terminology presented in the article you provided. Let's break down the key elements:
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Spinnaker Investment Group LLC's Stake Increase in Johnson & Johnson (JNJ):
- Spinnaker Investment Group LLC increased its stake in Johnson & Johnson during the 3rd quarter, as disclosed in its Form 13F filing with the Securities and Exchange Commission (SEC).
- The company now owns 11,582 shares of Johnson & Johnson, representing about 0.6% of its holdings, valued at $1,804,000.
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Other Hedge Funds' Activities:
- Several other hedge funds have also made moves regarding their holdings of Johnson & Johnson stock during the same period.
- For instance, Hibernia Wealth Partners LLC, FNY Investment Advisers LLC, Creative Capital Management Investments LLC, VitalStone Financial LLC, and Bay Harbor Wealth Management LLC acquired stakes in Johnson & Johnson, each valued at different amounts.
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Analyst Ratings Changes:
- Various research reports have been issued regarding Johnson & Johnson's stock.
- Notable changes include Wells Fargo & Company downgrading the stock from "overweight" to "equal weight," while UBS Group upgraded it from "neutral" to "buy."
- Analysts from Morgan Stanley, Cantor Fitzgerald, and Royal Bank of Canada also provided insights and target prices for the stock.
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Current Stock Performance:
- Johnson & Johnson's stock (NYSE: JNJ) traded up during mid-day trading on Friday, reaching $160.36.
- Key metrics include its market capitalization, P/E ratio, PEG ratio, beta, current ratio, quick ratio, debt-to-equity ratio, and its 52-week low and high.
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Earnings and Dividend Announcements:
- Johnson & Johnson recently reported its quarterly earnings, beating analysts' estimates with earnings per share of $2.29.
- The company also declared a quarterly dividend of $1.19 per share, with a payout ratio of 34.47%.
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About Johnson & Johnson:
- Johnson & Johnson is a multinational corporation that researches, develops, manufactures, and sells various products in the healthcare field globally.
- Its Consumer Health segment encompasses a range of well-known brands in skincare, beauty, baby care, oral care, pain relief, cold, flu, and allergy products.
This comprehensive analysis provides insights into the financial activities, market performance, analyst opinions, and fundamental aspects of Johnson & Johnson, a leading company in the healthcare sector.
