Pzena Investment Management LLC Raises Position in Johnson & Johnson (NYSE:JNJ)

Pzena Investment Management LLC boosted its position in Johnson & Johnson (NYSE:JNJ - Free Report) by 3.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 235,786 shares of the company's stock after buying an additional 6,806 shares during the period. Pzena Investment Management LLC's holdings in Johnson & Johnson were worth $39,103,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Johnson & Johnson by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 232,792,559 shares of the company's stock valued at $33,666,460,000 after buying an additional 1,772,706 shares in the last quarter. Geode Capital Management LLC increased its position 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 valued at $8,321,881,000 after buying an additional 1,561,036 shares in the last quarter. Northern Trust Corp increased its position in Johnson & Johnson by 12.3% in the 4th quarter. Northern Trust Corp now owns 30,813,175 shares of the company's stock valued at $4,456,201,000 after buying an additional 3,363,235 shares in the last quarter. Norges Bank bought a new stake in Johnson & Johnson in the 4th quarter valued at about $4,390,037,000. Finally, Wellington Management Group LLP increased its position in Johnson & Johnson by 1.8% in the 4th quarter. Wellington Management Group LLP now owns 24,356,572 shares of the company's stock valued at $3,522,447,000 after buying an additional 431,205 shares in the last quarter. 69.55% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

JNJ has been the subject of a number of research analyst reports. Piper Sandler reaffirmed an "overweight" rating on shares of Johnson & Johnson in a research report on Thursday. UBS Group reissued a "buy" rating and set a $190.00 price objective (up from $180.00) on shares of Johnson & Johnson in a report on Thursday. Raymond James Financial decreased their price objective on Johnson & Johnson from $165.00 to $162.00 and set an "outperform" rating for the company in a report on Monday, April 14th. Bank of America boosted their price objective on Johnson & Johnson from $161.00 to $175.00 and gave the stock a "neutral" rating in a report on Thursday. Finally, Guggenheim boosted their price objective on Johnson & Johnson from $164.00 to $167.00 and gave the stock a "neutral" rating in a report on Thursday. Eleven analysts have rated the stock with a hold rating, nine have issued a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat.com, Johnson & Johnson has an average rating of "Moderate Buy" and a consensus target price of $174.11.

Johnson & Johnson Stock Performance

Johnson & Johnson stock traded up $0.67 during trading on Friday, hitting $163.65. The stock had a trading volume of 9,764,459 shares, compared to its average volume of 8,138,164. Johnson & Johnson has a 1 year low of $140.68 and a 1 year high of $169.99. The company has a quick ratio of 1.03, a current ratio of 1.26 and a debt-to-equity ratio of 0.49. The stock's 50 day moving average is $154.10 and its two-hundred day moving average is $154.84. The stock has a market cap of $393.75 billion, a price-to-earnings ratio of 17.50, a price-to-earnings-growth ratio of 2.18 and a beta of 0.41.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last posted its quarterly earnings data on Wednesday, July 16th. The company reported $2.77 EPS for the quarter, beating the consensus estimate of $2.68 by $0.09. The business 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%. Johnson & Johnson's revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.82 earnings per share. As a group, analysts predict that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 9th. Shareholders of record on Tuesday, August 26th will be given a dividend of $1.30 per share. The ex-dividend date of this dividend is Tuesday, August 26th. This represents a $5.20 annualized dividend and a dividend yield of 3.18%. Johnson & Johnson's dividend payout ratio is currently 55.61%.

Johnson & Johnson Company Profile

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.