Allspring Global Investments Holdings LLC reduced its position in Johnson & Johnson (NYSE:JNJ - Free Report) by 19.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 437,387 shares of the company's stock after selling 106,904 shares during the period. Allspring Global Investments Holdings LLC's holdings in Johnson & Johnson were worth $67,030,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors also recently modified their holdings of the company. Norges Bank purchased a new stake in shares of Johnson & Johnson in the 4th quarter worth $4,390,037,000. Raymond James Financial Inc. bought a new position in shares of Johnson & Johnson in the fourth quarter worth about $1,339,878,000. GAMMA Investing LLC lifted its position in shares of Johnson & Johnson by 24,450.4% during the 1st quarter. GAMMA Investing LLC now owns 7,215,367 shares of the company's stock valued at $1,196,596,000 after buying an additional 7,185,977 shares in the last quarter. Janus Henderson Group PLC increased its holdings in Johnson & Johnson by 134.5% in the 4th quarter. Janus Henderson Group PLC now owns 7,948,508 shares of the company's stock worth $1,149,536,000 after acquiring an additional 4,559,147 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in Johnson & Johnson by 12.3% in the 4th quarter. Northern Trust Corp now owns 30,813,175 shares of the company's stock worth $4,456,201,000 after acquiring an additional 3,363,235 shares in the last quarter. Institutional investors own 69.55% of the company's stock.
Analysts Set New Price Targets
A number of equities analysts have weighed in on the stock. Bank of America dropped their price target on shares of Johnson & Johnson from $171.00 to $159.00 and set a "neutral" rating for the company in a research report on Thursday, April 10th. Benchmark raised shares of Johnson & Johnson to a "strong-buy" rating in a report on Thursday, April 24th. Wall Street Zen raised Johnson & Johnson from a "buy" rating to a "strong-buy" rating in a report on Saturday, June 21st. Royal Bank Of Canada restated an "outperform" rating and issued a $181.00 price objective on shares of Johnson & Johnson in a research report on Thursday, June 5th. Finally, Leerink Partnrs cut Johnson & Johnson from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 13th. Eleven analysts have rated the stock with a hold rating, seven have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $170.88.
View Our Latest Stock Report on JNJ
Johnson & Johnson Trading Up 0.1%
Shares of NYSE:JNJ traded up $0.17 during trading on Monday, hitting $152.58. The company had a trading volume of 9,000,393 shares, compared to its average volume of 8,022,753. The stock has a market cap of $367.12 billion, a price-to-earnings ratio of 16.97, a price-to-earnings-growth ratio of 2.31 and a beta of 0.42. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.26 and a quick ratio of 1.03. The company has a fifty day simple moving average of $153.75 and a two-hundred day simple moving average of $153.81. Johnson & Johnson has a one year low of $140.68 and a one year high of $169.99.
Johnson & Johnson (NYSE:JNJ - Get Free Report) last released its earnings results on Tuesday, April 15th. The company reported $2.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.59 by $0.18. Johnson & Johnson had a net margin of 24.42% and a return on equity of 33.46%. The firm had revenue of $21.89 billion during the quarter, compared to analyst estimates of $21.65 billion. As a group, equities analysts forecast that Johnson & Johnson will post 10.58 earnings per share for the current year.
Johnson & Johnson Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Tuesday, May 27th were given a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 3.41%. This is a boost from Johnson & Johnson's previous quarterly dividend of $1.24. The ex-dividend date was Tuesday, May 27th. Johnson & Johnson's payout ratio is 57.84%.
About Johnson & Johnson
(
Free Report)
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.
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