Biltmore Family Office LLC Lowers Stake in Johnson & Johnson (NYSE:JNJ) (2024)

Posted by Defense World Staff on Jun 13th, 2024

Biltmore Family Office LLC lowered its stake in shares of Johnson & Johnson (NYSE:JNJ – Free Report) by 7.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,252 shares of the company’s stock after selling 1,179 shares during the period. Biltmore Family Office LLC’s holdings in Johnson & Johnson were worth $2,234,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in the business. Concentric Wealth Management LLC increased its position in shares of Johnson & Johnson by 4.5% during the fourth quarter. Concentric Wealth Management LLC now owns 47,949 shares of the company’s stock worth $7,515,000 after purchasing an additional 2,074 shares in the last quarter. Midland Wealth Advisors LLC acquired a new position in shares of Johnson & Johnson in the 4th quarter valued at $2,754,000. Shariaportfolio Inc. increased its position in shares of Johnson & Johnson by 103.4% in the 4th quarter. Shariaportfolio Inc. now owns 14,330 shares of the company’s stock valued at $2,246,000 after acquiring an additional 7,286 shares during the period. New England Asset Management Inc. increased its position in shares of Johnson & Johnson by 5.0% in the 4th quarter. New England Asset Management Inc. now owns 49,304 shares of the company’s stock valued at $7,728,000 after acquiring an additional 2,368 shares during the period. Finally, Pathstone Holdings LLC acquired a new position in shares of Johnson & Johnson in the 4th quarter valued at $55,434,000. 69.55% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have commented on JNJ shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $175.00 price target on shares of Johnson & Johnson in a report on Tuesday, June 4th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $215.00 price target on shares of Johnson & Johnson in a report on Monday, May 6th. Morgan Stanley lowered their price target on shares of Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 17th. StockNews.com lowered shares of Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a report on Monday. Finally, HSBC raised shares of Johnson & Johnson from a “hold” rating to a “buy” rating and increased their target price for the stock from $169.00 to $170.00 in a research note on Thursday, April 18th. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $174.07.

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Johnson & Johnson Trading Down 0.9 %

Shares of Johnson & Johnson stock opened at $145.40 on Thursday. The firm has a market capitalization of $349.93 billion, a PE ratio of 9.06, a P/E/G ratio of 2.45 and a beta of 0.53. Johnson & Johnson has a twelve month low of $143.13 and a twelve month high of $175.97. The firm’s 50-day moving average price is $148.66 and its 200 day moving average price is $154.77. The company has a current ratio of 1.17, a quick ratio of 0.94 and a debt-to-equity ratio of 0.36.

Johnson & Johnson (NYSE:JNJ – Get Free Report) last issued its earnings results on Tuesday, April 16th. The company reported $2.71 earnings per share for the quarter, topping the consensus estimate of $2.64 by $0.07. The business had revenue of $21.38 billion for the quarter, compared to analysts’ expectations of $21.39 billion. Johnson & Johnson had a return on equity of 36.70% and a net margin of 45.26%. The business’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.68 EPS. On average, sell-side analysts predict that Johnson & Johnson will post 10.63 EPS for the current fiscal year.

Johnson & Johnson Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 21st were issued a dividend of $1.24 per share. This is a boost from Johnson & Johnson’s previous quarterly dividend of $1.19. This represents a $4.96 annualized dividend and a dividend yield of 3.41%. The ex-dividend date was Monday, May 20th. Johnson & Johnson’s payout ratio is currently 30.92%.

Johnson & Johnson Company Profile

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