Oakworth Capital Inc. Has $3.13 Million Stock Holdings in Johnson & Johnson (NYSE:JNJ) (2024)

Posted by Defense World Staff on Jan 26th, 2024

Oakworth Capital Inc. trimmed its position in shares of Johnson & Johnson (NYSE:JNJ – Free Report) by 2.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 20,123 shares of the company’s stock after selling 517 shares during the quarter. Oakworth Capital Inc.’s holdings in Johnson & Johnson were worth $3,134,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Baron Silver Stevens Financial Advisors LLC raised its position in shares of Johnson & Johnson by 3.3% during the third quarter. Baron Silver Stevens Financial Advisors LLC now owns 5,816 shares of the company’s stock worth $906,000 after acquiring an additional 187 shares during the last quarter. Rocky Mountain Advisers LLC raised its position in shares of Johnson & Johnson by 9.9% during the third quarter. Rocky Mountain Advisers LLC now owns 2,785 shares of the company’s stock worth $434,000 after acquiring an additional 250 shares during the last quarter. Financial Council Asset Management Inc raised its position in shares of Johnson & Johnson by 8.6% during the third quarter. Financial Council Asset Management Inc now owns 2,328 shares of the company’s stock worth $363,000 after acquiring an additional 184 shares during the last quarter. Peregrine Asset Advisers Inc. raised its position in shares of Johnson & Johnson by 827.2% during the third quarter. Peregrine Asset Advisers Inc. now owns 12,322 shares of the company’s stock worth $1,919,000 after acquiring an additional 10,993 shares during the last quarter. Finally, Cook Wealth Management Group LLC raised its position in shares of Johnson & Johnson by 18.7% during the third quarter. Cook Wealth Management Group LLC now owns 8,897 shares of the company’s stock worth $1,326,000 after acquiring an additional 1,400 shares during the last quarter. 68.40% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. TheStreet downgraded Johnson & Johnson from a “b” rating to a “c+” rating in a report on Friday, November 17th. UBS Group upgraded Johnson & Johnson from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $167.00 to $180.00 in a report on Friday, December 1st. Morgan Stanley lowered their target price on Johnson & Johnson from $170.00 to $169.00 and set an “equal weight” rating for the company in a report on Wednesday. Barclays lifted their target price on Johnson & Johnson from $158.00 to $162.00 and gave the stock an “equal weight” rating in a report on Thursday, October 12th. Finally, Raymond James boosted their price objective on Johnson & Johnson from $172.00 to $175.00 and gave the company an “outperform” rating in a report on Wednesday, January 3rd. Eight equities 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 stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $167.87.

Get Our Latest Stock Report on JNJ

Johnson & Johnson Stock Up 0.6 %

Shares of NYSE JNJ opened at $160.51 on Friday. Johnson & Johnson has a one year low of $144.95 and a one year high of $175.97. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.21 and a quick ratio of 0.96. The business’s fifty day moving average price is $156.93 and its 200-day moving average price is $159.24. The stock has a market capitalization of $386.39 billion, a PE ratio of 11.56, a P/E/G ratio of 3.07 and a beta of 0.53.

Johnson & Johnson (NYSE:JNJ – Get Free Report) last released its quarterly earnings data on Tuesday, January 23rd. The company reported $2.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.28 by $0.01. Johnson & Johnson had a return on equity of 36.75% and a net margin of 37.79%. The company had revenue of $21.40 billion for the quarter, compared to analyst estimates of $21.02 billion. During the same period in the previous year, the company posted $2.35 EPS. The firm’s revenue for the quarter was down 9.7% compared to the same quarter last year. On average, equities research analysts anticipate that Johnson & Johnson will post 10.69 EPS for the current year.

Johnson & Johnson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 5th. Investors of record on Tuesday, February 20th will be paid a dividend of $1.19 per share. The ex-dividend date is Friday, February 16th. This represents a $4.76 dividend on an annualized basis and a dividend yield of 2.97%. Johnson & Johnson’s payout ratio is 34.47%.

Johnson & Johnson Company Profile

(Free Report)

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 a seasoned financial analyst with a strong background in market trends, investment strategies, and corporate financial analysis, I bring a wealth of expertise to the table. Over the years, I have closely followed various industries and maintained a sharp focus on stock market dynamics. My ability to analyze financial statements, assess market sentiment, and interpret the impact of economic indicators has enabled me to provide valuable insights to investors and institutions.

Now, delving into the article about Oakworth Capital Inc.'s recent moves with Johnson & Johnson (NYSE: JNJ), I can decipher the intricacies involved in institutional investment decisions. Oakworth Capital Inc. demonstrated a strategic shift by trimming its position in Johnson & Johnson by 2.5% during the third quarter. The disclosed information with the Securities and Exchange Commission (SEC) reveals that Oakworth Capital Inc. sold 517 shares, bringing its total holdings to 20,123 shares valued at $3,134,000.

Additionally, other hedge funds like Baron Silver Stevens Financial Advisors LLC, Rocky Mountain Advisers LLC, Financial Council Asset Management Inc, Peregrine Asset Advisers Inc., and Cook Wealth Management Group LLC made adjustments to their positions, further emphasizing the active nature of institutional investors in the market.

The article also highlights the opinions of equities research analysts on Johnson & Johnson's stock. Notably, TheStreet downgraded the stock, while UBS Group upgraded it to a "buy" rating. Various target price adjustments were made by analysts, contributing to an average target price of $167.87, indicating a "Moderate Buy" consensus.

Switching gears to Johnson & Johnson's financial performance, the company reported $2.29 earnings per share (EPS) for the last quarter, slightly surpassing analysts' estimates. The return on equity stood at 36.75%, with a net margin of 37.79%. The revenue for the quarter was $21.40 billion, outperforming analyst estimates.

Furthermore, Johnson & Johnson's dividend announcement reveals a quarterly dividend of $1.19 per share, with an ex-dividend date of February 16th. The company boasts a dividend yield of 2.97%, maintaining a payout ratio of 34.47%.

To provide a broader context, Johnson & Johnson, as described in its company profile, operates globally in the healthcare sector, researching, developing, manufacturing, and selling various products. The company's diverse product portfolio includes consumer health, skin health/beauty, baby care, oral care, and pharmaceutical products under well-known brands like AVEENO, NEUTROGENA, JOHNSON'S, LISTERINE, and TYLENOL.

In conclusion, the provided article not only sheds light on the recent financial maneuvers of institutional investors but also offers a comprehensive overview of Johnson & Johnson's stock performance, analyst sentiments, and the company's fundamental health in the healthcare sector. For those considering investment decisions, this information serves as a valuable guide in navigating the dynamic landscape of the stock market.