August 15, 2022

Healty Care

The Healthy Lovers

Cullinan Associates Inc. Increases Stake in Johnson &

4 min read

Cullinan Associates Inc. raised its stake in Johnson & Johnson (NYSE:JNJ – Get Rating) by 3.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 186,491 shares of the company’s stock after buying an additional 5,625 shares during the quarter. Johnson & Johnson comprises approximately 1.7% of Cullinan Associates Inc.’s investment portfolio, making the stock its 8th biggest holding. Cullinan Associates Inc.’s holdings in Johnson & Johnson were worth $33,052,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in JNJ. Family CFO Inc bought a new position in Johnson & Johnson in the fourth quarter valued at approximately $26,000. Steward Financial Group LLC acquired a new stake in shares of Johnson & Johnson in the fourth quarter valued at approximately $34,000. Joseph P. Lucia & Associates LLC acquired a new stake in shares of Johnson & Johnson in the first quarter valued at approximately $38,000. Advocacy Wealth Management Services LLC raised its holdings in shares of Johnson & Johnson by 41.4% in the first quarter. Advocacy Wealth Management Services LLC now owns 229 shares of the company’s stock valued at $41,000 after purchasing an additional 67 shares during the last quarter. Finally, Iron Horse Wealth Management LLC raised its holdings in shares of Johnson & Johnson by 29.9% in the fourth quarter. Iron Horse Wealth Management LLC now owns 265 shares of the company’s stock valued at $45,000 after purchasing an additional 61 shares during the last quarter. 68.78% of the stock is currently owned by hedge funds and other institutional investors.

JNJ opened at $178.28 on Monday. Johnson & Johnson has a twelve month low of $155.72 and a twelve month high of $186.69. The company has a 50-day simple moving average of $176.89 and a 200 day simple moving average of $174.14. The company has a quick ratio of 1.14, a current ratio of 1.39 and a debt-to-equity ratio of 0.39. The stock has a market capitalization of $469.13 billion, a price-to-earnings ratio of 24.03, a P/E/G ratio of 3.53 and a beta of 0.63.

Johnson & Johnson (NYSE:JNJ – Get Rating) last released its quarterly earnings data on Tuesday, April 19th. The company reported $2.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.60 by $0.07. Johnson & Johnson had a return on equity of 36.59% and a net margin of 20.90%. The company had revenue of $23.43 billion during the quarter, compared to the consensus estimate of $23.62 billion. During the same quarter in the prior year, the firm posted $2.59 earnings per share. The firm’s revenue was up 5.0% compared to the same quarter last year. Sell-side analysts anticipate that Johnson & Johnson will post 10.23 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 7th. Shareholders of record on Tuesday, May 24th were issued a dividend of $1.13 per share. This represents a $4.52 dividend on an annualized basis and a dividend yield of 2.54%. This is a boost from Johnson & Johnson’s previous quarterly dividend of $1.06. The ex-dividend date of this dividend was Monday, May 23rd. Johnson & Johnson’s dividend payout ratio is presently 60.92%.

A number of analysts have recently issued reports on JNJ shares. Daiwa Capital Markets started coverage on shares of Johnson & Johnson in a report on Wednesday, June 22nd. They issued an “outperform” rating on the stock. Morgan Stanley lifted their price objective on shares of Johnson & Johnson from $173.00 to $174.00 and gave the company an “equal weight” rating in a report on Friday. Credit Suisse Group lifted their price objective on shares of Johnson & Johnson from $200.00 to $205.00 and gave the company an “outperform” rating in a report on Wednesday, April 20th. StockNews.com upgraded shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Tuesday, May 17th. Finally, Sanford C. Bernstein downgraded shares of Johnson & Johnson from an “outperform” rating to a “market perform” rating and boosted their target price for the stock from $180.00 to $183.00 in a report on Wednesday, March 16th. Four equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Johnson & Johnson presently has an average rating of “Moderate Buy” and a consensus target price of $190.67.

In other Johnson & Johnson news, EVP Kathryn E. Wengel sold 40,000 shares of the firm’s stock in a transaction on Friday, June 10th. The stock was sold at an average price of $173.00, for a total transaction of $6,920,000.00. Following the transaction, the executive vice president now directly owns 71,311 shares in the company, valued at approximately $12,336,803. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider William Hait sold 29,699 shares of the firm’s stock in a transaction on Thursday, April 21st. The shares were sold at an average price of $183.58, for a total value of $5,452,142.42. Following the transaction, the insider now owns 80,236 shares in the company, valued at $14,729,724.88. The disclosure for this sale can be found here. Insiders have sold a total of 78,161 shares of company stock worth $13,895,302 over the last 90 days. Company insiders own 0.35% of the company’s stock.

Johnson & Johnson Company Profile (Get Rating)

Johnson & Johnson, together with its subsidiaries, researches and develops, manufactures, and sells various products in the healthcare field worldwide. The company’s Consumer Health segment offers baby care products under the JOHNSON’S and AVEENO Baby brands; oral care products under the LISTERINE brand; skin health/beauty products under the AVEENO, CLEAN & CLEAR, DR.

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Institutional Ownership by Quarter for Johnson & Johnson (NYSE:JNJ)



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