Lockheed Martin Investment Management Co. has significantly increased its investment in Johnson & Johnson (NYSE: JNJ) by an impressive 247.3% during the second quarter of 2023. According to the company’s latest filing with the Securities and Exchange Commission (SEC), Lockheed Martin now holds 213,600 shares of Johnson & Johnson, having added 152,100 shares over the period. This investment now constitutes approximately 1.2% of Lockheed Martin’s total portfolio, ranking it as the firm’s 19th largest position.
At the close of the most recent reporting period, Lockheed Martin’s holdings in Johnson & Johnson were valued at around $32.63 million. The move reflects a broader trend, as several other institutional investors have also adjusted their stakes in Johnson & Johnson recently.
Nuveen LLC, for example, established a new position in Johnson & Johnson worth $1.37 billion in the first quarter. Meanwhile, Bank of New York Mellon Corp. increased its holdings by 26.4%, now owning 23,182,464 shares valued at approximately $3.84 billion after acquiring an additional 4,842,582 shares.
Pacer Advisors Inc. made a remarkable adjustment, boosting its stake by 1,382.0% in the same quarter, leading to a total of 3,030,084 shares worth around $502.51 million. Additionally, Assenagon Asset Management S.A. expanded its position by 159.6%, acquiring 4,159,260 shares valued at $635.33 million as of the end of the second quarter. Notably, 69.55% of Johnson & Johnson’s stock is currently owned by hedge funds and institutional investors.
Insider Trading Activity
In related developments, Johnson & Johnson’s Executive Vice President, Jennifer L. Taubert, sold 56,471 shares of the company on September 4, 2023, at an average price of $177.81. The total value of this transaction amounted to $10,041,108.51. Following this sale, Taubert retained 178,013 shares, with a total value estimated at $31.65 million. This transaction represented a 24.08% decrease in her position, as disclosed in a filing with the SEC.
Currently, insiders hold 0.16% of Johnson & Johnson’s stock.
Stock Performance and Financial Outlook
Shares of Johnson & Johnson opened at $189.05 on Friday, reflecting a market capitalization of $455.47 billion. The company has a price-to-earnings ratio of 18.25 and a PEG ratio of 2.19, with a beta of 0.40. Over the past year, the stock reached a low of $140.68 and a high of $194.48. Its 50-day moving average price stands at $183.08, while the 200-day moving average is $167.32.
In its latest quarterly earnings announcement on August 30, 2023, Johnson & Johnson reported earnings per share (EPS) of $2.26 and total revenue of $24.02 billion. The company’s net margin was reported at 27.26%, with a return on equity of 32.73%. Analysts forecast that Johnson & Johnson will post an EPS of $10.58 for the current fiscal year.
Furthermore, Johnson & Johnson has declared a quarterly dividend of $1.30 per share, scheduled for payment on December 9, 2023, to investors of record as of November 25, 2023. This dividend reflects an annualized payout of $5.20, yielding 2.8%. The company currently has a dividend payout ratio of 50.19%.
Johnson & Johnson operates as a holding company, focusing on the research, development, manufacture, and sale of healthcare products. The company is divided into two primary segments: Innovative Medicine and MedTech, with significant emphasis on areas such as immunology, oncology, and infectious diseases.
