Beacon Financial Advisory LLC has significantly reduced its stake in Johnson & Johnson (NYSE: JNJ) by **63.5%** during the third quarter of 2023. According to a recent filing with the **Securities and Exchange Commission**, the firm now holds **3,180 shares** of the healthcare giant after selling **5,523 shares** in that period. As of the latest reporting, Beacon’s shares in Johnson & Johnson were valued at approximately **$590,000**.
Several other institutional investors have also adjusted their positions in Johnson & Johnson recently. **Evolution Wealth Management Inc.** acquired a new stake in the company during the second quarter, valued at around **$27,000**. Meanwhile, **Clayton Financial Group LLC** purchased shares worth about **$28,000** in the third quarter. **Semmax Financial Advisors Inc.** increased its holdings in Johnson & Johnson by **55.0%** during the same period, now owning **203 shares** valued at **$31,000** after acquiring an additional **72 shares**. **GFG Capital LLC** and **Signature Resources Capital Management LLC** also made new investments, with the latter increasing its stake by a remarkable **262.9%**, now holding **254 shares** valued at **$47,000**. Notably, institutional investors collectively own **69.55%** of Johnson & Johnson’s stock.
Analyst Ratings and Market Sentiment
Recent analyst activity indicates a generally positive outlook for Johnson & Johnson. In a report dated **October 15, 2023**, **Argus** set a price target of **$210.00**, while **Scotiabank** initiated coverage with a “sector outperform” rating and a target price of **$230.00**. **HSBC** reiterated a “buy” rating with a target of **$240.00**, reflecting strong confidence in the company’s future performance. Additionally, **Stifel Nicolaus** and **Raymond James Financial** adjusted their price objectives to **$190.00** and **$209.00**, respectively.
Currently, Johnson & Johnson enjoys an average rating of “Moderate Buy,” with **four analysts** recommending a Strong Buy, **fifteen** endorsing a Buy, and **nine** issuing a Hold rating. The average target price stands at **$213.33**, according to data from **MarketBeat.com**.
Recent developments have bolstered positive sentiment around the company. Notably, favorable Phase 3 results for **CAPLYTA**, a major psychiatric drug, have shown improved remission outcomes. This success has generated optimism within the biotech and pharmaceutical sectors, positively influencing perceptions of Johnson & Johnson.
Furthermore, the company’s advancements in robotic surgery and a recent regulatory submission have contributed to a strong outlook for dividend growth, drawing interest from income-focused investors. Notable market commentator **Jim Cramer** has also expressed renewed confidence in Johnson & Johnson, highlighting its robust cancer portfolio and encouraging retail investors to view it as a core holding.
Current Stock Performance and Dividend Announcement
As of Wednesday, shares of Johnson & Johnson opened at **$218.09**. The company maintains a current ratio of **1.07**, a quick ratio of **0.80**, and a debt-to-equity ratio of **0.50**. With a market capitalization of **$525.43 billion**, the stock has experienced a price-to-earnings ratio of **21.05** and a PEG ratio of **2.25**. Over the past year, the stock has fluctuated between a low of **$141.50** and a high of **$220.11**.
In addition to stock performance, Johnson & Johnson has announced a quarterly dividend of **$1.30** per share, payable on **March 10, 2024**, to shareholders of record as of **February 24, 2024**. This dividend represents an annualized amount of **$5.20**, yielding **2.4%**. The company’s dividend payout ratio currently stands at **50.19%**, indicating a commitment to returning value to shareholders.
Founded in **1886** and headquartered in **New Brunswick, New Jersey**, Johnson & Johnson is a leading multinational healthcare company. It develops, manufactures, and markets a diverse range of products across pharmaceuticals, medical devices, and consumer health. Its pharmaceutical division, primarily organized under the **Janssen** research and development umbrella, focuses on a wide array of prescription medicines addressing various therapeutic areas, including immunology, infectious disease, oncology, and neuroscience.
As the company continues to navigate the complexities of the market, ongoing developments and institutional strategies will likely influence its trajectory in the coming months.
