West Branch Capital LLC Increases Investment in Johnson & Johnson

On October 21, 2024, it was reported that West Branch Capital LLC has increased its stake in Johnson & Johnson (NYSE:JNJ) by purchasing an additional 688 shares during the third quarter. This acquisition represents a 2.8% increase in their overall position in the company. After this transaction, West Branch Capital now holds a total of 24,890 shares of Johnson & Johnson, which constitutes about 1.4% of their investment portfolio, making it the 18th largest holding within the fund. As of the end of the most recent quarter, these shares were valued at approximately $4,034,000.

Other institutional investors have also been active recently, adjusting their holdings in Johnson & Johnson. For instance, &PARTNERS raised its position in the company by a significant 51.5% in the first quarter and now holds 31,942 shares worth about $5,050,000 after acquiring an additional 10,856 shares. Meanwhile, Douglas Lane & Associates LLC increased its share count by 4.7%, owning a total of 545,254 shares valued at $86,254,000. Similarly, International Assets Investment Management LLC raised its stake by 17.1%, now holding 15,614 shares worth around $2,464,000. Salem Investment Counselors Inc. and Cooper Financial Group have also increased their holdings by 2.3% and 1.3%, respectively. Overall, institutional investors own approximately 69.55% of Johnson & Johnson's stock.

Analyst Perspectives on Johnson & Johnson

In recent weeks, Johnson & Johnson has been under the spotlight with various research analyst reports. For example, on July 23rd, Daiwa America changed its rating from a "strong-buy" to a "hold". Conversely, StockNews.com upgraded Johnson & Johnson to a "strong-buy" on September 14th. Analysts at Sanford C. Bernstein lifted their price target from $161.00 to $171.00 in their assessments. Additionally, Citigroup increased its price target from $180.00 to $185.00 and assigned a "buy" rating on October 16th. Current ratings from six analysts indicate a hold status, while seven have rated it as a buy, and one as a strong buy. Collectively, this brings the average rating to "Moderate Buy" with a consensus price target of $175.93 according to MarketBeat.

Insider Transactions

In insider news related to Johnson & Johnson, Vice President Robert J. Decker sold 5,635 shares of the company on August 30th at an average price of $165.06, totalling a sale value of $930,113.10. Post-transaction, Decker owns 18,973 shares, which are valued at approximately $3,131,683.38. This sale reflects a 0.00% change in ownership for Decker. Only 0.16% of the company's stock is currently held by insiders.

Stock Performance Overview

As of Monday, shares of Johnson & Johnson opened at $165.12. The company has a substantial market capitalization of $397.39 billion, a P/E ratio of 10.29, and a P/E/G ratio of 2.65. Over the past year, the stock has fluctuated between a low of $143.13 and a high of $168.85. The 50-day moving average stands at $162.98, while the 200-day moving average is at $154.69. The current ratio and quick ratio are 1.07 and 0.85, respectively, indicating solid liquidity, along with a debt-to-equity ratio of 0.44.

Recent Earnings Announcement

On October 15th, Johnson & Johnson announced its latest quarterly earnings, posting earnings per share of $2.42, exceeding the analysts’ expectations of $2.21 per share by $0.21. The company reported a net margin of 46.34% and a return on equity of 36.60%. Additionally, revenue reached $22.47 billion, surpassing earlier estimates of $22.17 billion, which shows a year-over-year revenue increase of 5.2%. Analysts predict Johnson & Johnson will achieve a total of 10 EPS in the current fiscal year.

Dividend Announcement

Johnson & Johnson has also announced its upcoming quarterly dividend, set to be paid on December 10th. This dividend payment will be $1.24 for shareholders of record by November 26th, with the ex-dividend date coinciding on the same date. This translates to an annualized dividend yield of approximately 3.00%, with a payout ratio currently at 30.92%.

Company Overview

Johnson & Johnson operates globally, specializing in research, development, manufacturing, and sales across various healthcare sectors. The company’s Innovative Medicine segment provides a wide range of products tackling areas such as immunology, infectious diseases, oncology, and neuroscience, among others.

Investment, Stocks, Acquisition