CWA Asset Management Group LLC Invests in Johnson & Johnson

CWA Asset Management Group LLC has made a new investment in Johnson & Johnson (NYSE:JNJ) during the third quarter, based on its latest Form 13F filing with the Securities and Exchange Commission. The firm acquired 135,305 shares of Johnson & Johnson's stock, with an approximate value of $21,927,000. This investment represents around 1.2% of CWA Asset Management Group LLC's total holdings, positioning Johnson & Johnson as their 15th largest investment.

Additionally, other institutional investors have adjusted their positions in Johnson & Johnson. Meridian Financial Partners LLC bought shares worth about $1,626,000 in the second quarter. Lmcg Investments LLC increased its stake by 32.7% during the third quarter, now holding 87,162 shares valued at $14,125,000 after adding 21,471 shares during the quarter. NTV Asset Management LLC expanded its position by 1.6% in the first quarter, owning 36,000 shares valued at $5,695,000, after purchasing an additional 565 shares. Similarly, Cooper Haims Advisors LLC raised its holdings by 6.4%, now owning 3,358 shares valued at $531,000 after acquiring 201 extra shares. Finally, Trajan Wealth LLC increased its stake by 11.3% during the third quarter and now owns 32,992 shares valued at $5,347,000, after buying 3,341 additional shares. Currently, 69.55% of Johnson & Johnson's stock is held by institutional investors.

Insider Trading Activity

In recent developments, Johnson & Johnson's VP Robert J. Decker sold 5,635 shares on August 30th, at an average price of $165.06, totaling around $930,113. Following the sale, he owns 18,973 shares valued at approximately $3,131,683.38. This transaction reflects a marginal change in his share ownership.

Current Stock Performance

As of Friday, JNJ opened at $155.62. The company's market capitalization is $374.67 billion, with a price-to-earnings ratio of 22.52 and a beta of 0.53. Johnson & Johnson's stock has shown a 12-month low of $143.13 and a high of $168.85. The current 50-day moving average stands at $162.61, while the 200-day moving average is $155.81.

On October 15th, Johnson & Johnson reported quarterly earnings of $2.42 per share, surpassing the consensus estimate of $2.21. For that quarter, the company generated $22.47 billion in revenue, exceeding analyst expectations of $22.17 billion. The firm achieved a return on equity of 35.45% and a net margin of 19.14%. In comparison to the prior year, quarterly revenue rose by 5.2%. Analysts predict that the company will post earnings per share of 9.94 for the current fiscal year.

Dividend Announcement

Johnson & Johnson recently declared a quarterly dividend of $1.24 per share, scheduled for payment on December 10th to shareholders who are on record as of November 26th. The ex-dividend date is set for November 26th. This dividend translates to an annualized payout of $4.96, representing a yield of 3.19%, with a dividend payout ratio of 71.78%.

Analyst Ratings and Price Targets

Several analysts have recently adjusted their price targets on Johnson & Johnson. Goldman Sachs reduced their target from $160.00 to $155.00, maintaining a "neutral" rating. In contrast, Citigroup increased their target from $180.00 to $185.00 and assigned a "buy" rating. Guggenheim raised its target from $156.00 to $162.00, also with a "neutral" rating. Royal Bank of Canada pushed their price objective from $178.00 to $181.00 while giving a rating of "outperform". Despite these moves, TD Cowen lowered its target from $195.00 to $185.00 while maintaining a "buy" rating. Overall, there are seven analysts rating the stock as "hold," seven as "buy," and one as "strong buy," resulting in a consensus rating of "Moderate Buy" and a target price of $175.00.

Company Overview

Johnson & Johnson is a global leader in health care, engaged in the research, development, manufacturing, and sale of a wide array of products across various sectors. Its divisions focus on innovative medicines, consumer health, and medical devices, providing solutions across various therapeutic areas, including immunology, infectious diseases, neuroscience, oncology, cardiovascular health, and more.

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