West Family Investments Inc. has increased its stake in Johnson & Johnson (NYSE: JNJ) by 9.6% during the second quarter of 2023. According to a recent Form 13F filing with the Securities and Exchange Commission (SEC), the institutional investor now owns 12,934 shares of Johnson & Johnson, having purchased an additional 1,131 shares during this period. The total value of West Family Investments’ holdings in the company amounts to approximately $1,976,000.
Several other institutional investors have also adjusted their positions in Johnson & Johnson. Notably, Norges Bank acquired a new stake valued at around $4.88 billion in the second quarter. In a significant move, Nuveen LLC purchased shares worth approximately $1.37 billion during the first quarter. Meanwhile, Laurel Wealth Advisors LLC dramatically increased its position by 15,040.6%, now owning 7,420,699 shares worth about $1.13 billion after adding 7,371,687 shares in the last quarter. Additionally, Vanguard Group Inc. raised its holdings by 1.3%, bringing its total to 237,047,859 shares valued at $36.21 billion. Assenagon Asset Management S.A. also expanded its holdings by 159.6%, now owning 4,159,260 shares, worth approximately $635.33 million. Overall, institutional investors and hedge funds hold around 69.55% of Johnson & Johnson’s stock.
In related news, executive vice president Jennifer L. Taubert sold 56,471 shares of Johnson & Johnson on September 4, 2023, at an average price of $177.81 per share, amounting to a total transaction of $10,041,108.51. Following this sale, Taubert retains 178,013 shares valued at approximately $31.65 million, reflecting a 24.08% decrease in her position. The transaction has been disclosed in SEC filings.
Stock Performance and Financial Highlights
As of last Friday, shares of Johnson & Johnson opened at $206.89. The company boasts a market capitalization of $498.46 billion, with a price-to-earnings (P/E) ratio of 19.97 and a P/E growth (P/E/G) ratio of 2.19. The stock has displayed stability, with a beta of 0.38, indicating lower volatility compared to the overall market. Johnson & Johnson has a debt-to-equity ratio of 0.50, a quick ratio of 0.80, and a current ratio of 1.07. Over the past year, the stock has fluctuated between a low of $140.68 and a high of $207.81. The fifty-day moving average stands at $191.33, while the two-hundred-day moving average is $173.36.
On August 30, 2023, Johnson & Johnson reported its latest earnings, revealing earnings per share (EPS) of $2.26 for the quarter and total revenue of $24.02 billion. The company achieved a net margin of 27.26% and a return on equity of 32.73%. Analysts predict that Johnson & Johnson will post an EPS of $10.58 for the current year.
Dividend Announcement
The company has also announced a quarterly dividend of $1.30, set to be paid on December 9, 2023, to shareholders of record as of November 25, 2023. This dividend represents an annualized payout of $5.20, yielding approximately 2.5%. The ex-dividend date is also November 25, 2023. Johnson & Johnson’s current payout ratio is 50.19%.
Johnson & Johnson operates in the healthcare sector, focusing on research, development, manufacturing, and sales of various products. The company is structured into two primary segments: Innovative Medicine and MedTech. The Innovative Medicine segment emphasizes areas such as immunology, infectious diseases, neuroscience, oncology, cardiovascular health, metabolism, and pulmonary hypertension.
For those interested in tracking hedge fund activities related to Johnson & Johnson, the latest 13F filings and insider trades can be accessed for a comprehensive view of the stock’s ownership landscape.
