Nicolet Advisory Services LLC Has $2.19 Million Stake in Johnson & Johnson (NYSE:JNJ)

Key Points

• Nicolet Advisory Services LLC increased its stake in Johnson & Johnson by 20%, bringing its total holdings to 13,214 shares valued at approximately $2.19 million.
• Institutional investors own around 69.55% of Johnson & Johnson's stock, with several funds significantly increasing their holdings in the first quarter of 2023.
• Johnson & Johnson reported a quarterly earnings per share of $2.77, exceeding analysts' estimates, with revenue also up 5.8% year-over-year, totaling $23.74 billion.

Nicolet Advisory Services LLC lifted its holdings in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 20.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,214 shares of the company's stock after buying an additional 2,206 shares during the quarter. Nicolet Advisory Services LLC's holdings in Johnson & Johnson were worth $2,191,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of JNJ. GAMMA Investing LLC grew its holdings in Johnson & Johnson by 24,450.4% during the first quarter. GAMMA Investing LLC now owns 7,215,367 shares of the company's stock valued at $1,196,596,000 after purchasing an additional 7,185,977 shares during the period. Bank of New York Mellon Corp grew its holdings in Johnson & Johnson by 26.4% during the first quarter. Bank of New York Mellon Corp now owns 23,182,464 shares of the company's stock valued at $3,844,580,000 after purchasing an additional 4,842,582 shares during the period. Janus Henderson Group PLC grew its holdings in Johnson & Johnson by 134.5% during the fourth quarter. Janus Henderson Group PLC now owns 7,948,508 shares of the company's stock valued at $1,149,536,000 after purchasing an additional 4,559,147 shares during the period. Northern Trust Corp grew its holdings in Johnson & Johnson by 12.3% during the fourth quarter. Northern Trust Corp now owns 30,813,175 shares of the company's stock valued at $4,456,201,000 after purchasing an additional 3,363,235 shares during the period. Finally, Pacer Advisors Inc. grew its holdings in Johnson & Johnson by 1,382.0% during the first quarter. Pacer Advisors Inc. now owns 3,030,084 shares of the company's stock valued at $502,509,000 after purchasing an additional 2,825,626 shares during the period. Institutional investors and hedge funds own 69.55% of the company's stock.

Johnson & Johnson Price Performance

Shares of NYSE JNJ opened at $164.76 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.01 and a quick ratio of 0.76. The business has a 50-day moving average of $157.18 and a 200-day moving average of $156.44. Johnson & Johnson has a fifty-two week low of $140.68 and a fifty-two week high of $169.99. The stock has a market capitalization of $396.81 billion, a price-to-earnings ratio of 17.62, a PEG ratio of 2.13 and a beta of 0.41.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last released its quarterly earnings data on Wednesday, July 16th. The company reported $2.77 earnings per share for the quarter, topping the consensus estimate of $2.68 by $0.09. Johnson & Johnson had a net margin of 25.00% and a return on equity of 32.49%. The company had revenue of $23.74 billion for the quarter, compared to analyst estimates of $22.85 billion. During the same period in the previous year, the business earned $2.82 EPS. Johnson & Johnson's revenue for the quarter was up 5.8% compared to the same quarter last year. As a group, sell-side analysts predict that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 9th. Stockholders of record on Tuesday, August 26th will be paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 3.2%. The ex-dividend date is Tuesday, August 26th. Johnson & Johnson's payout ratio is currently 55.61%.

Wall Street Analyst Weigh In

JNJ has been the subject of several research analyst reports. Piper Sandler reiterated an "overweight" rating on shares of Johnson & Johnson in a report on Thursday, July 17th. UBS Group upped their target price on shares of Johnson & Johnson from $180.00 to $190.00 and gave the stock a "buy" rating in a research note on Thursday, July 17th. Guggenheim reissued a "neutral" rating and issued a $167.00 price target (up previously from $164.00) on shares of Johnson & Johnson in a research note on Thursday, July 17th. The Goldman Sachs Group raised Johnson & Johnson from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $157.00 to $172.00 in a research report on Wednesday, April 9th. Finally, Royal Bank Of Canada increased their price objective on Johnson & Johnson from $181.00 to $185.00 and gave the stock an "outperform" rating in a report on Thursday, July 17th. Nine equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $174.50.

Johnson & Johnson Profile

Johnson & Johnson is a holding company, which engages in the research, development, manufacture, and sale of products in the healthcare field. It operates through the Innovative Medicine and MedTech segments. The Innovative Medicine segment focuses on immunology, infectious diseases, neuroscience, oncology, cardiovascular and metabolism, and pulmonary hypertension.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.