West Family Investments Inc. has increased its holdings in Johnson & Johnson (NYSE: JNJ) by 9.6% during the second quarter of 2023, as reported in its latest Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor now owns 12,934 shares of the healthcare giant, having acquired an additional 1,131 shares during this period. The total value of West Family Investments Inc.’s stake in Johnson & Johnson stands at approximately $1,976,000.
Several other institutional investors have also adjusted their positions in Johnson & Johnson. Notably, Norges Bank purchased a significant new stake valued at around $4.88 billion during the same quarter. Additionally, Nuveen LLC acquired a stake worth approximately $1.37 billion in the first quarter.
Strong movements were also seen from Laurel Wealth Advisors LLC, which increased its position in Johnson & Johnson by an astonishing 15,040.6%, now owning 7,420,699 shares valued at $1.13 billion. Meanwhile, Vanguard Group Inc. boosted its holdings by 1.3%, now possessing 237,047,859 shares worth around $36.21 billion after acquiring an additional 3,085,180 shares in the last quarter. Assenagon Asset Management S.A. also increased its stake by 159.6% during the second quarter, bringing its total to 4,159,260 shares, valued at approximately $635.33 million. Collectively, institutional investors and hedge funds own 69.55% of Johnson & Johnson’s stock.
Insider Transactions and Stock Performance
In other developments, Jennifer L. Taubert, Executive Vice President, sold 56,471 shares of Johnson & Johnson on September 4th. The shares were sold at an average price of $177.81, resulting in a transaction valued at approximately $10,041,108.51. Following this sale, Taubert’s holdings decreased by 24.08%, leaving her with 178,013 shares valued at around $31.65 million. Insiders currently own 0.16% of the company’s stock.
As of last Friday, Johnson & Johnson shares opened at $206.89. The company boasts a market capitalization of $498.46 billion, 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 shown a beta of 0.38, indicating lower volatility compared to the broader market. Johnson & Johnson’s one-year low stands at $140.68, while the high reached $207.81. The company’s fifty-day moving average is $191.33, with a two-hundred-day moving average of $173.36.
On August 30th, Johnson & Johnson announced its latest earnings results, reporting an earnings per share (EPS) of $2.26 for the quarter. The company recorded revenues of $24.02 billion, achieving a net margin of 27.26% and a return on equity of 32.73%. Analysts predict an EPS of $10.58 for the current year.
Upcoming Dividend Announcement
Johnson & Johnson has also disclosed a forthcoming quarterly dividend, which is set to be paid on December 9th. Shareholders of record on November 25th will receive a dividend of $1.30 per share, translating to an annualized dividend of $5.20 and a yield of 2.5%. The ex-dividend date for this payment is the same as the record date. Currently, the company’s payout ratio stands at 50.19%.
Johnson & Johnson operates as a holding company, focusing on the research, development, manufacture, and sale of health-related products. The firm is divided into two main segments: Innovative Medicine and MedTech. The Innovative Medicine segment emphasizes areas such as immunology, infectious diseases, neuroscience, oncology, cardiovascular health, and pulmonary hypertension.
For those interested in tracking hedge fund activities related to Johnson & Johnson, various resources provide insights into 13F filings and insider transactions.
