Johnson & Johnson (NYSE:JNJ) Shares Acquired by Lord Abbett & CO. LLC

Lord Abbett & CO. LLC grew its holdings in Johnson & Johnson (NYSE:JNJ - Free Report) by 63.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 706,099 shares of the company's stock after purchasing an additional 274,905 shares during the quarter. Lord Abbett & CO. LLC's holdings in Johnson & Johnson were worth $117,099,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Brighton Jones LLC increased its holdings in Johnson & Johnson by 13.9% during the fourth quarter. Brighton Jones LLC now owns 51,876 shares of the company's stock worth $7,502,000 after buying an additional 6,332 shares during the last quarter. Hudson Value Partners LLC increased its holdings in Johnson & Johnson by 2.5% during the fourth quarter. Hudson Value Partners LLC now owns 41,403 shares of the company's stock worth $5,648,000 after buying an additional 1,022 shares during the last quarter. Cohen & Steers Inc. increased its holdings in Johnson & Johnson by 5.3% during the fourth quarter. Cohen & Steers Inc. now owns 2,472 shares of the company's stock worth $358,000 after buying an additional 125 shares during the last quarter. Jump Financial LLC increased its holdings in shares of Johnson & Johnson by 2,001.9% in the fourth quarter. Jump Financial LLC now owns 31,717 shares of the company's stock valued at $4,587,000 after purchasing an additional 30,208 shares during the last quarter. Finally, Gabelli Funds LLC increased its holdings in shares of Johnson & Johnson by 1.3% in the fourth quarter. Gabelli Funds LLC now owns 195,485 shares of the company's stock valued at $28,271,000 after purchasing an additional 2,450 shares during the last quarter. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Sanford C. Bernstein reiterated a "market perform" rating on shares of Johnson & Johnson in a report on Wednesday, April 16th. Leerink Partners downgraded shares of Johnson & Johnson from an "outperform" rating to a "market perform" rating and decreased their price objective for the company from $169.00 to $153.00 in a report on Tuesday, May 13th. Wall Street Zen downgraded shares of Johnson & Johnson from a "strong-buy" rating to a "buy" rating in a report on Friday, July 18th. Piper Sandler reiterated an "overweight" rating on shares of Johnson & Johnson in a report on Thursday, July 17th. Finally, UBS Group increased their target price on shares of Johnson & Johnson from $180.00 to $190.00 and gave the company a "buy" rating in a research report on Thursday, July 17th. Nine analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $174.50.

Johnson & Johnson Trading Up 0.9%

JNJ opened at $174.29 on Thursday. Johnson & Johnson has a 12 month low of $140.68 and a 12 month high of $174.76. The stock has a fifty day moving average price of $160.42 and a 200-day moving average price of $158.01. The company has a current ratio of 1.01, a quick ratio of 0.76 and a debt-to-equity ratio of 0.50. The firm has a market cap of $419.75 billion, a price-to-earnings ratio of 18.64, a PEG ratio of 2.20 and a beta of 0.41.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last released its quarterly earnings results on Wednesday, July 16th. The company reported $2.77 earnings per share for the quarter, topping analysts' consensus estimates of $2.68 by $0.09. The company had revenue of $23.74 billion during the quarter, compared to analysts' expectations of $22.85 billion. Johnson & Johnson had a return on equity of 32.49% and a net margin of 25.00%. Johnson & Johnson's quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.82 EPS. As a group, equities research analysts anticipate that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 9th. Investors of record on Tuesday, August 26th will be given a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 3.0%. The ex-dividend date is Tuesday, August 26th. Johnson & Johnson's dividend payout ratio is presently 55.61%.

About Johnson & Johnson

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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