July 24, 2023: It has been reported that &PBMares Wealth Management LLC has significantly increased its position in Johnson & Johnson (NYSE:JNJ) during the first quarter of this year. According to the Securities and Exchange Commission disclosure, the firm acquired an additional 1,358 shares of the company’s stock, making it one of their largest holdings.
With a current total of 10,773 shares, the position held by PBMares Wealth Management LLC in Johnson & Johnson represents 0.6% of their overall portfolio. This strategic move highlights their confidence in the company’s growth potential and long-term prospects.
At the end of the first quarter, PBMares Wealth Management LLC’s holdings in Johnson & Johnson were valued at approximately $1,670,000. This considerable investment signifies the trust placed by PBMares Wealth Management LLC in not only Johnson & Johnson but also their ability to generate substantial returns for their clients.
In addition to increasing its stake in Johnson & Johnson, PBMares Wealth Management LLC has taken note of the upcoming quarterly dividend declaration by the pharmaceutical giant. The dividend is set to be paid on Thursday, September 7th to shareholders of record as of Monday, August 28th.
The announced dividend amount is $1.19 per share. Based on this figure, investors can expect an annualized dividend yield of 2.80% and a total annual dividend payout of $4.76 per share from Johnson & Johnson. These figures make it clear that Johnson & Johnson prioritizes providing consistent returns to its shareholders through regular dividends.
While PBMares Wealth Management LLC seems confident about its investment in Johnson & Johnson, it is worthwhile to mention that several research analysts have recently weighed in on JNJ shares. Credit Suisse Group raised their price target on the stock to $175.00 and assigned a “neutral” rating in a comprehensive research report released on Friday. Similarly, Stifel Nicolaus increased their price objective from $165.00 to $175.00 and rated the stock in a positive light.
On the other hand, JPMorgan Chase & Co. also increased their price target for Johnson & Johnson shares to $180.00 and provided a “neutral” rating in their report issued on Friday. This mix of opinions suggests that analysts have differing perspectives on the stock’s future performance.
Moreover, UBS Group initiated coverage on Johnson & Johnson, labeling it as “neutral” with a price objective of $164.00 back in March. These ratings provide investors with various insights into the company’s outlook, allowing them to make informed decisions about their portfolios.
It is interesting to note that Raymond James recently downgraded Johnson & Johnson from $185.00 to $181.00 but maintained an “outperform” rating on the stock as of April 19th this year. With differing opinions and ratings, investors should carefully consider these research reports before making any investment decisions regarding Johnson & Johnson.
To summarize, &PBMares Wealth Management LLC has bolstered its position in Johnson & Johnson during the first quarter of this year, indicating a strong belief in the company’s growth prospects. Additionally, shareholders can look forward to receiving a quarterly dividend payment of $1.19 per share in September 2023.
While analysts’ opinions vary between “neutral,” “buy,” and “strong buy,” it is crucial for investors to conduct thorough due diligence before making any investment decision based on these research reports. Ultimately, each investor must assess whether investing in Johnson & Johnson aligns with their individual investment goals and risk tolerance levels.
Please note that all information mentioned is accurate as of July 24, 2023 unless otherwise stated.
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Investors and Hedge Funds Increase Positions in Johnson & Johnson, Executives Sell Shares, and Company Announces Dividend Payment
[stock_market_widget type=”chart” template=”basic” color=”#3946CE” assets=”JNJ” range=”1mo” interval=”1d” axes=”true” cursor=”true” range_selector=”true” api=”yf”]Investors and hedge funds are making notable changes to their positions in Johnson & Johnson, a leading pharmaceutical and consumer goods company. Dorchester Wealth Management Co has increased its stake in the company by 8.6% during the first quarter. This boost now brings its ownership to 67,618 shares valued at $14,975,000. Similarly, Cantor Fitzgerald Investment Advisor LP has seen an 88.9% lift in its position, increasing its shares to 175,194 worth $31,049,000. AMI Investment Management Inc. also experienced an 8.8% rise in their stake during the same period, currently owning 18,305 shares valued at $3,244,000.
Furthermore, Equitable Holdings Inc., a financial services company, raised its position in Johnson & Johnson by 4.9% during the first quarter as well. The firm recently acquired an additional 2,119 shares and now holds a total of 45,673 shares with a worth of $8,095,000. USS Investment Management Ltd saw a more modest increase of 2.4%, purchasing an extra 20,528 shares bringing their total to 860,371 and valuing it at $152,488,000.
These changes reflect significant shifts in ownership within the pharmaceutical giant’s equity base as well as impacting overall market sentiment towards the company. Currently, hedge funds and institutional investors own roughly two-thirds of Johnson & Johnson’s stock.
In other news concerning the firm’s executives’ activities is the recent sale made by EVP Kathryn E.Wengel who sold off her personal holdings amounting to approximately $1.99 million dollars’ worth of shares on June 12th this year. Following this transaction accordingly disclosed with SEC filings available through their website: Wengel relinquished her ownership of almost 12 thousand shares totaling at nearly ten million five hundred fifty thousand dollars.
Johnson & Johnson has also recently announced its quarterly dividend payment, scheduled for September 7th. Stockholders will receive $1.19 per share if recorded as a shareholder on August 28th. Investors who divest themselves of company shares prior to this date, on August 25th, relinquish their right to this particular payout. This current dividend represents an annualized yield of 2.80%, equivalent to $4.76 per share.
On the trading front, Johnson & Johnson’s stock opened at $170.19 on July 24th and boasts a market cap of approximately $442.28 billion dollars. With a price-to-earnings ratio of 34.45 and a PEG ratio of 2.88, the company seems poised for continued growth and stability in the market. Its beta value stands at a low .55, indicating lower volatility than the broader market.
From the financial perspective, Johnson & Johnson’s current ratio is at 1.07 and its quick ratio is at 0.85, reflecting solid liquidity for the company in case of any short-term financial obligations or emergencies it might face going forward into Q3 and beyond end-of-the-year results update coverage.
Notably, analysts anticipate that Johnson & Johnson will post earnings per share (EPS) of $10.75 for the current fiscal year based on previous performance expectations data such as sales figures derived from measuring total income generated by all products sold (in billions) by Q4 coming upsoon.. The company has managed to exceed market estimates with strong net profit margins reaching over 13% overall – reportedly accelerated growth in international markets and reflects improved operational efficiencies which have contributed to this recent robust performance.
