CWA Asset Management Group LLC Acquires Shares in Johnson & Johnson

CWA Asset Management Group LLC has made a new investment in Johnson & Johnson (NYSE:JNJ) during the third quarter, as reported in its latest Form 13F filing with the Securities and Exchange Commission. The firm purchased 135,305 shares of Johnson & Johnson, totaling around $21,927,000. This investment represents approximately 1.2% of CWA's overall holdings, ranking as the 15th largest position within their portfolio.

During this period, several other institutional investors have also adjusted their stakes in Johnson & Johnson. For instance, Meridian Financial Partners LLC initiated a new position in the company during the second quarter, acquiring shares valued at about $1,626,000. Meanwhile, Lmcg Investments LLC increased its stake by 32.7% in the third quarter, now holding 87,162 shares valued at $14,125,000 after buying an additional 21,471 shares. Similarly, NTV Asset Management LLC grew its investment by 1.6% in the first quarter, accumulating 36,000 shares worth approximately $5,695,000 after acquiring an extra 565 shares. Additionally, Cooper Haims Advisors LLC raised its position in Johnson & Johnson by 6.4% during the first quarter, now owning 3,358 shares valued at $531,000. Moreover, Trajan Wealth LLC boosted its stake by 11.3% in the third quarter, bringing its total to 32,992 shares valued at $5,347,000. Currently, institutional investors own about 69.55% of Johnson & Johnson’s stock.

Recent Insider Transactions

In other news, Johnson & Johnson’s Vice President, Robert J. Decker, sold 5,635 shares of the company on August 30th at an average price of $165.06, resulting in a transaction valued at approximately $930,113.10. Following this sale, Decker continues to own 18,973 shares valued at around $3,131,683.38, reflecting a negligible change in ownership. The transaction was publicly reported in a legal filing with the SEC. Currently, company insiders hold about 0.16% of the stock.

Current Stock Performance

As of the last trading session, Johnson & Johnson shares have seen a slight decline of 0.7%, with the stock opening at $155.62. The company has a market cap of $374.67 billion, a price-to-earnings ratio of 22.52, and a PEG ratio of 2.80. Its current ratio stands at 1.03, quick ratio at 0.79, and the debt-to-equity ratio measures at 0.45. Over the past year, the stock has experienced a low of $143.13 and a high of $168.85, with its fifty-day and 200-day moving average prices at $162.61 and $155.81, respectively.

On October 15th, Johnson & Johnson announced its latest earnings, revealing earnings per share of $2.42, which surpasses the consensus estimate of $2.21 by $0.21. The company's revenue for the quarter was reported at $22.47 billion, exceeding analyst expectations of $22.17 billion. The return on equity for the firm was 35.45%, with a net margin of 19.14%. The quarterly revenue reflects a 5.2% increase compared to the same quarter from the previous year. Analysts project that Johnson & Johnson will achieve earnings per share of approximately 9.94 for the current fiscal year.

Dividend Announcements

Johnson & Johnson recently declared a quarterly dividend that will be payable on December 10th. Shareholders on record as of November 26th will receive a dividend payment of $1.24 per share. The ex-dividend date is also set for November 26th, translating to an annualized dividend of $4.96, which results in a yield of 3.19%. Currently, the company’s dividend payout ratio is around 71.78%.

Price Targets and Analyst Ratings

Numerous brokerages have reevaluated their price targets for Johnson & Johnson’s stock. Goldman Sachs Group reduced its target from $160.00 to $155.00, giving it a “neutral” rating. In contrast, Citigroup raised its target from $180.00 to $185.00 and assigned a “buy” rating. On another note, Guggenheim increased its price target from $156.00 to $162.00, maintaining a “neutral” designation. Furthermore, Royal Bank of Canada raised the price objective from $178.00 to $181.00 and rated it as “outperform.” TD Cowen adjusted its target lower from $195.00 to $185.00, keeping a “buy” stance. Overall, analysts have shown varied perspectives, with seven labeling the stock as “hold,” seven indicating “buy,” and one recommending “strong buy,” culminating in a consensus rating of “Moderate Buy” with an average price target of $175.00.

Overview of Johnson & Johnson

Johnson & Johnson, along with its subsidiaries, specializes in researching, developing, manufacturing, and selling a wide range of health-related products globally. Their Innovative Medicine segment focuses on various therapeutic areas, including immunology (like rheumatoid arthritis and psoriasis), infectious diseases (such as HIV/AIDS), neuroscience (addressing mood and neurodegenerative disorders), oncology (including prostate and lung cancers), and cardiovascular/metabolism health (covering diabetes and thrombosis).

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