Biltmore Family Office LLC Sells 1,179 Shares of Johnson & Johnson (NYSE:JNJ) (2024)

Biltmore Family Office LLC trimmed its position in shares of Johnson & Johnson (NYSE:JNJ – Free Report) by 7.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund 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 and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Concentric Wealth Management LLC increased its holdings in 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 buying an additional 2,074 shares during the last quarter. Midland Wealth Advisors LLC acquired a new position in Johnson & Johnson during the fourth quarter worth $2,754,000. Shariaportfolio Inc. increased its holdings in Johnson & Johnson by 103.4% during the fourth quarter. Shariaportfolio Inc. now owns 14,330 shares of the company’s stock worth $2,246,000 after buying an additional 7,286 shares during the last quarter. New England Asset Management Inc. increased its holdings in Johnson & Johnson by 5.0% during the fourth quarter. New England Asset Management Inc. now owns 49,304 shares of the company’s stock worth $7,728,000 after buying an additional 2,368 shares during the last quarter. Finally, Pathstone Holdings LLC acquired a new position in Johnson & Johnson during the fourth quarter worth $55,434,000. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on JNJ shares. Morgan Stanley lowered their target price 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. Cantor Fitzgerald reissued an “overweight” rating and issued a $215.00 price objective on shares of Johnson & Johnson in a research report on Monday, May 6th. Royal Bank of Canada reissued an “outperform” rating and issued a $175.00 price objective on shares of Johnson & Johnson in a research report on Tuesday, June 4th. StockNews.com lowered shares of Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a research report on Monday. Finally, Bank of America dropped their price objective on shares of Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 17th. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $174.07.

Check Out Our Latest Stock Analysis on Johnson & Johnson

Johnson & Johnson Price Performance

NYSE:JNJ opened at $145.40 on Thursday. Johnson & Johnson has a 52 week low of $143.13 and a 52 week high of $175.97. The firm has a market cap of $349.93 billion, a price-to-earnings ratio of 9.06, a P/E/G ratio of 2.45 and a beta of 0.53. The firm’s 50-day simple moving average is $148.66 and its 200 day simple moving average is $154.77. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.94 and a current ratio of 1.17.

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

Johnson & Johnson Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 21st were paid a $1.24 dividend. This is an increase from Johnson & Johnson’s previous quarterly dividend of $1.19. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.41%. The ex-dividend date was Monday, May 20th. Johnson & Johnson’s dividend payout ratio (DPR) is presently 30.92%.

About Johnson & Johnson

(Free Report)

Johnson & Johnson, together with its subsidiaries, researches, develops, manufactures, and sells various products in the healthcare field worldwide. The company's Innovative Medicine segment offers products for various therapeutic areas, such as immunology, including rheumatoid arthritis, psoriatic arthritis, inflammatory bowel disease, and psoriasis; infectious diseases comprising HIV/AIDS; neuroscience, consisting of mood disorders, neurodegenerative disorders, and schizophrenia; oncology, such as prostate cancer, hematologic malignancies, lung cancer, and bladder cancer; cardiovascular and metabolism, including thrombosis, diabetes, and macular degeneration; and pulmonary hypertension comprising pulmonary arterial hypertension through retailers, wholesalers, distributors, hospitals, and healthcare professionals for prescription use.

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