Convergence Investment Partners LLC decreased its stake in Johnson & Johnson (NYSE:JNJ - Free Report) by 20.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,812 shares of the company's stock after selling 3,379 shares during the period. Convergence Investment Partners LLC's holdings in Johnson & Johnson were worth $2,125,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Geode Capital Management LLC lifted its holdings in Johnson & Johnson by 2.8% in the 4th quarter. Geode Capital Management LLC now owns 57,667,920 shares of the company's stock worth $8,321,881,000 after buying an additional 1,561,036 shares during the period. Northern Trust Corp increased its holdings in shares of 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 purchasing an additional 3,363,235 shares in the last quarter. Norges Bank purchased a new position in shares of Johnson & Johnson in the 4th quarter worth $4,390,037,000. Wellington Management Group LLP grew its holdings in Johnson & Johnson by 1.8% during the fourth quarter. Wellington Management Group LLP now owns 24,356,572 shares of the company's stock valued at $3,522,447,000 after purchasing an additional 431,205 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in shares of Johnson & Johnson by 26.4% in 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 acquiring an additional 4,842,582 shares in the last quarter. Institutional investors own 69.55% of the company's stock.
Wall Street Analyst Weigh In
A number of research firms have recently commented on JNJ. The Goldman Sachs Group raised Johnson & Johnson from a "neutral" rating to a "buy" rating and upped their target price for the company from $157.00 to $172.00 in a research note on Wednesday, April 9th. UBS Group lifted their price objective on Johnson & Johnson from $180.00 to $190.00 and gave the company a "buy" rating in a research note on Thursday, July 17th. Benchmark upgraded Johnson & Johnson to a "strong-buy" rating in a report on Thursday, April 24th. Leerink Partners lowered Johnson & Johnson from an "outperform" rating to a "market perform" rating and dropped their target price for the company from $169.00 to $153.00 in a report on Tuesday, May 13th. Finally, Bank of America raised their price objective on shares of Johnson & Johnson from $161.00 to $175.00 and gave the company a "neutral" rating in a research report on Thursday, July 17th. Nine equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $174.50.
View Our Latest Stock Report on JNJ
Johnson & Johnson Stock Down 0.7%
Shares of NYSE JNJ traded down $1.27 during trading on Friday, reaching $168.29. The company had a trading volume of 6,199,690 shares, compared to its average volume of 8,375,731. The company has a quick ratio of 1.03, a current ratio of 1.26 and a debt-to-equity ratio of 0.49. Johnson & Johnson has a 12-month low of $140.68 and a 12-month high of $169.99. The stock has a market cap of $404.92 billion, a PE ratio of 18.00, a P/E/G ratio of 2.16 and a beta of 0.41. The business's 50-day moving average is $156.08 and its 200 day moving average is $155.78.
Johnson & Johnson (NYSE:JNJ - Get Free Report) last issued its earnings results on Wednesday, July 16th. The company reported $2.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.68 by $0.09. The company had revenue of $23.74 billion for the quarter, compared to the consensus estimate of $22.85 billion. Johnson & Johnson had a return on equity of 33.07% and a net margin of 25.00%. The firm's quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter last year, the company earned $2.82 EPS. As a group, equities analysts forecast that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.
Johnson & Johnson Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 9th. Stockholders of record on Tuesday, August 26th will be given a $1.30 dividend. The ex-dividend date is Tuesday, August 26th. This represents a $5.20 annualized dividend and a dividend yield of 3.09%. Johnson & Johnson's dividend payout ratio (DPR) is presently 55.61%.
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.
See Also
Before you consider Johnson & Johnson, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Johnson & Johnson wasn't on the list.
While Johnson & Johnson currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
