Agate Pass Investment Management LLC Strengthens Johnson & Johnson’s Market Position (NYSE:JNJ)

By Gregory C. Smalley Last updated Jul 23, 2022

Agate Pass Investment Management LLC increased its holdings in Johnson & Johnson (NYSE: JNJ – Get Rating) by 5.7% in the first quarter, according to its latest communication with the Securities and Exchange Commission (SEC). The institutional investor held 17,597 shares of the company after purchasing an additional 952 shares during the quarter. Johnson & Johnson accounts for 1.9% of Agate Pass Investment Management LLC’s investment portfolio, making the stock its 14th-highest position. Agate Pass Investment Management LLC’s holdings in Johnson & Johnson were worth $3,119,000 when it last filed with the SEC.

A number of other institutional investors and hedge funds also changed their positions in the company. Family CFO Inc bought a new stake in Johnson & Johnson stock during the fourth quarter worth about $26,000. Steward Financial Group LLC purchased a new stake in Johnson & Johnson stock during the fourth quarter worth approximately $34,000. Joseph P. Lucia & Associates LLC purchased a new equity stake in Johnson & Johnson during the first quarter valued at approximately $38,000. Advocacy Wealth Management Services LLC increased its position in Johnson & Johnson shares by 41.4% during the first quarter. Advocacy Wealth Management Services LLC now owns 229 shares of the company worth $41,000 after buying 67 additional shares last quarter. Finally, Gibson Wealth Advisors LLC purchased a new equity stake in Johnson & Johnson during the fourth quarter worth approximately $49,000. 68.78% of the shares are currently held by hedge funds and other institutional investors.

Insider buying and selling

In other Johnson & Johnson news, CAO Robert J. Decker sold 8,462 shares of the company in a trade dated Thursday, May 26. The stock was sold at an average price of $180.00, for a total transaction of $1,523,160.00. As a result of the sale, the accounting chief now owns 15,473 shares of the company, valued at around $2,785,140. The sale was disclosed in a filing with the SEC, which is available on the SEC’s website. In other Johnson & Johnson news, CAO Robert J. Decker sold 8,462 shares of the company in a trade dated Thursday, May 26. The stock was sold at an average price of $180.00, for a total transaction of $1,523,160.00. As a result of the sale, the accounting chief now owns 15,473 shares of the company, valued at around $2,785,140. The sale was disclosed in a filing with the SEC, which is available on the SEC’s website. Additionally, Executive Vice President Kathryn E. Wengel sold 40,000 shares of the company in a transaction dated Friday, June 10. The stock was sold at an average price of $173.00, for a total value of $6,920,000.00. Following the sale, the executive vice president now owns 71,311 shares of the company, valued at approximately $12,336,803. The disclosure of this sale can be found here. 0.35% of the shares are held by insiders.

Analyst upgrades and downgrades

JNJ has been the subject of a number of recent research reports. StockNews.com upgraded Johnson & Johnson from a “buy” rating to a “strong buy” rating in a Tuesday, May 17 research rating. Goldman Sachs Group raised its price target on Johnson & Johnson from $163.00 to $181.00 and gave the stock a “neutral” rating in a Tuesday, April 12 research note. Credit Suisse Group raised its price target on Johnson & Johnson from $200.00 to $205.00 and gave the stock an “outperform” rating in a Wednesday, April 20 research note. SVB Leerink reduced its price target on Johnson & Johnson from $200.00 to $194.00 in a research note on Wednesday. Finally, UBS Group cut its price target on Johnson & Johnson from $185.00 to $180.00 in a research note on Thursday. Four equity research analysts gave the stock a hold rating, six gave the company a buy rating and one gave the company a high buy rating. According to data from MarketBeat.com, Johnson & Johnson has a consensus rating of “Moderate Buy” and an average target price of $189.89.

Johnson & Johnson Price Performance

JNJ opened at $172.12 on Friday. The stock’s 50-day moving average price is $176.25 and its 200-day moving average price is $174.35. Johnson & Johnson has a 12-month low of $155.72 and a 12-month high of $186.69. The company has a current ratio of 1.39, a quick ratio of 1.14 and a debt ratio of 0.39. The company has a market capitalization of $452.92 billion, a price/earnings ratio of 25.05, a PEG ratio of 3.48 and a beta of 0.63.

Johnson & Johnson (NYSE:JNJ – Get Rating) last reported results on Tuesday, July 19. The company reported earnings per share (EPS) of $2.59 for the quarter, beating the consensus estimate of $2.57 by $0.02. Johnson & Johnson had a return on equity of 36.56% and a net margin of 19.21%. The company posted revenue of $24.02 billion for the quarter, versus analyst estimates of $23.85 billion. In the same quarter of the previous year, the company achieved EPS of $2.48. Johnson & Johnson revenue increased 3.0% year-over-year. As a group, sell-side analysts expect Johnson & Johnson to post earnings per share of 10.02 for the current year.

Johnson & Johnson announces dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 6. Investors of record on Tuesday, August 23 will receive a dividend of $1.13 per share. This represents an annualized dividend of $4.52 and a yield of 2.63%. The ex-date of this dividend is Monday, August 22. Johnson & Johnson’s payout ratio is 65.79%.

Johnson & Johnson Company Profile

(Get a rating)

Johnson & Johnson, together with its subsidiaries, researches and develops, manufactures and sells various healthcare products worldwide. The Company’s Consumer Health segment offers baby care products under the JOHNSON’S and AVEENO Baby brands; oral care products under the LISTERINE brand; skin health/beauty products under the brands AVEENO, CLEAN & CLEAR, DR.