Johnson & Johnson $JNJ Shares Purchased by Allstate Corp

Key Points

• Allstate Corp more than doubled its stake in Johnson & Johnson in the fourth quarter, buying an additional 96,262 shares and bringing its total to 183,134 shares worth about $37.9 million.
• Other institutional investors also added to J&J positions, and the stock remains widely held by funds and hedge funds, which own about 69.55% of shares outstanding.
• Analysts remain generally positive on Johnson & Johnson, with an average Moderate Buy rating and price target of $253.04; the company also raised its quarterly dividend to $1.34 per share.

Allstate Corp increased its position in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 110.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 183,134 shares of the company's stock after purchasing an additional 96,262 shares during the quarter. Johnson & Johnson accounts for approximately 0.5% of Allstate Corp's investment portfolio, making the stock its 27th largest holding. Allstate Corp's holdings in Johnson & Johnson were worth $37,900,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of JNJ. AustralianSuper Pty Ltd increased its position in shares of Johnson & Johnson by 632.0% in the third quarter. AustralianSuper Pty Ltd now owns 89,183 shares of the company's stock valued at $16,536,000 after buying an additional 77,000 shares in the last quarter. J.W. Cole Advisors Inc. increased its position in shares of Johnson & Johnson by 2.2% in the third quarter. J.W. Cole Advisors Inc. now owns 130,934 shares of the company's stock valued at $24,278,000 after buying an additional 2,769 shares in the last quarter. Guinness Asset Management LTD increased its position in shares of Johnson & Johnson by 0.4% in the third quarter. Guinness Asset Management LTD now owns 1,383,195 shares of the company's stock valued at $251,216,000 after buying an additional 5,994 shares in the last quarter. Greenberg Financial Group purchased a new stake in shares of Johnson & Johnson in the fourth quarter valued at approximately $954,000. Finally, National Pension Service increased its position in shares of Johnson & Johnson by 3.2% in the third quarter. National Pension Service now owns 4,926,569 shares of the company's stock valued at $913,484,000 after buying an additional 151,707 shares in the last quarter. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Bank of America boosted their price target on Johnson & Johnson from $253.00 to $254.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 15th. Stifel Nicolaus boosted their price target on Johnson & Johnson from $220.00 to $250.00 and gave the stock a "hold" rating in a research report on Wednesday, April 15th. Johnson Rice upgraded Johnson & Johnson from a "hold" rating to an "outperform" rating in a research report on Wednesday, May 13th. HSBC boosted their price target on Johnson & Johnson from $265.00 to $280.00 and gave the stock a "buy" rating in a research report on Tuesday, March 17th. Finally, Royal Bank Of Canada reiterated an "outperform" rating and set a $265.00 price target on shares of Johnson & Johnson in a research report on Wednesday, April 15th. Twenty analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $253.04.

Johnson & Johnson Stock Performance

Shares of Johnson & Johnson stock opened at $234.67 on Tuesday. Johnson & Johnson has a 52 week low of $149.04 and a 52 week high of $251.71. The business's fifty day simple moving average is $233.87 and its 200-day simple moving average is $223.88. The firm has a market cap of $564.91 billion, a PE ratio of 27.13, a price-to-earnings-growth ratio of 2.29 and a beta of 0.27. The company has a quick ratio of 0.77, a current ratio of 1.03 and a debt-to-equity ratio of 0.46.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last announced its quarterly earnings results on Tuesday, April 14th. The company reported $2.70 EPS for the quarter, beating the consensus estimate of $2.68 by $0.02. Johnson & Johnson had a return on equity of 32.60% and a net margin of 21.83%.The business had revenue of $24.06 billion for the quarter, compared to analyst estimates of $23.60 billion. During the same quarter in the prior year, the company posted $2.77 EPS. The company's quarterly revenue was up 9.9% on a year-over-year basis. Johnson & Johnson has set its FY 2026 guidance at 11.450-11.650 EPS. Equities analysts forecast that Johnson & Johnson will post 11.57 earnings per share for the current year.

Johnson & Johnson Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 9th. Stockholders of record on Tuesday, May 26th will be paid a $1.34 dividend. This is a boost from Johnson & Johnson's previous quarterly dividend of $1.30. The ex-dividend date of this dividend is Tuesday, May 26th. This represents a $5.36 annualized dividend and a dividend yield of 2.3%. Johnson & Johnson's dividend payout ratio is currently 60.12%.

Johnson & Johnson Profile

Johnson & Johnson is a multinational healthcare company headquartered in New Brunswick, New Jersey, that develops, manufactures and markets a broad range of products across pharmaceuticals, medical devices and previously consumer health. Founded in 1886 by the Johnson family, the company has grown into a global healthcare organization with operations and sales in many countries around the world.

The company's pharmaceuticals business, organized largely under its Janssen research and development organization, focuses on prescription medicines across therapeutic areas such as immunology, infectious disease, oncology and neuroscience.

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