First National Trust Co has decreased its stake in Johnson & Johnson (NYSE: JNJ) by 1.4%, selling 2,017 shares during the second quarter of 2023. According to the firm’s latest Form 13F filing with the U.S. Securities and Exchange Commission (SEC), First National Trust Co now holds 139,641 shares of the healthcare giant, representing approximately 0.8% of its investment portfolio. The value of its holdings in Johnson & Johnson stood at about $21.33 million at the end of the quarter, making it the firm’s 26th largest investment.
Other institutional investors have also adjusted their positions in Johnson & Johnson recently. For instance, Brighton Jones LLC increased its holdings by 13.9% in the fourth quarter, acquiring an additional 6,332 shares to reach a total of 51,876 shares valued at approximately $7.5 million. Similarly, Jaffetilchin Investment Partners LLC raised its stake by 1.9% during the same period and now owns 36,300 shares worth around $6.02 million. Additionally, Achmea Investment Management B.V. boosted its investment by 15.7%, amassing 248,227 shares valued at $41.17 million.
Market Analyst Insights
Several research firms have recently issued reports on Johnson & Johnson. Guggenheim upgraded the company from a “neutral” to a “buy” rating, increasing its target price from $167.00 to $206.00 in a report dated September 23, 2023. Cowen reaffirmed a “buy” rating, and Bank of America adjusted its target price from $198.00 to $204.00, maintaining a “neutral” rating.
According to MarketBeat, the consensus rating for Johnson & Johnson is currently “Moderate Buy,” with an average target price of $199.05. Analysts have recognized three as providing a “Strong Buy” rating, while fourteen have issued a “Buy” rating and nine have given a “Hold” rating.
Insider Transactions and Stock Performance
In related news, Jennifer L. Taubert, Executive Vice President of Johnson & Johnson, sold 56,471 shares on September 4, 2023, at an average price of $177.81, totaling approximately $10.04 million. Following this transaction, Taubert’s remaining shares in the company were valued at around $31.65 million, reflecting a 24.08% decrease in her position. Insiders currently hold about 0.16% of the company’s stock.
As of Tuesday, Johnson & Johnson traded at $190.31, with a market capitalization of $458.5 billion. The company’s 50-day moving average price is $182.54, while its 200-day moving average stands at $166.65. Over the past year, the stock has reached a low of $140.68 and a high of $194.48.
Johnson & Johnson’s recent quarterly earnings report, released on August 30, 2023, indicated earnings per share (EPS) of $2.26 and revenues 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 fiscal year.
In financial news, Johnson & Johnson has declared a quarterly dividend of $1.30 per share, set to be paid on December 9, 2023. The ex-dividend date is November 25, 2023, and this represents an annualized dividend of $5.20 with a yield of 2.7%. The company’s dividend payout ratio currently stands at 50.19%.
Johnson & Johnson operates as a holding company engaged in the research, development, manufacture, and sale of healthcare products, divided into two primary segments: Innovative Medicine and MedTech. The Innovative Medicine segment concentrates on various therapeutic areas, including immunology, oncology, and infectious diseases.
