Metis Global Partners LLC Increases Stake in Johnson & Johnson (NYSE:JNJ)

Key Points

• Metis Global Partners LLC increased its stake in Johnson & Johnson by 11.1%, bringing their total holdings to 156,401 shares valued at approximately $25.9 million.
• Institutional ownership of Johnson & Johnson stock is significant, with 69.55% of shares held by institutional investors, indicating strong support from large financial entities.
• Johnson & Johnson's latest earnings report revealed an EPS of $2.77, surpassing expectations, and a quarterly revenue of $23.74 billion, reflecting a 5.8% increase from the same quarter last year.

Metis Global Partners LLC boosted its holdings in Johnson & Johnson (NYSE:JNJ - Free Report) by 11.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 156,401 shares of the company's stock after acquiring an additional 15,687 shares during the quarter. Johnson & Johnson accounts for 0.7% of Metis Global Partners LLC's portfolio, making the stock its 19th largest position. Metis Global Partners LLC's holdings in Johnson & Johnson were worth $25,938,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Brighton Jones LLC boosted 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 valued at $7,502,000 after purchasing an additional 6,332 shares in the last quarter. Hudson Value Partners LLC boosted its stake in Johnson & Johnson by 2.5% in the 4th quarter. Hudson Value Partners LLC now owns 41,403 shares of the company's stock worth $5,648,000 after purchasing an additional 1,022 shares during the period. WINTON GROUP Ltd acquired a new position in shares of Johnson & Johnson during the 4th quarter worth about $279,000. New Age Alpha Advisors LLC acquired a new stake in Johnson & Johnson in the 4th quarter valued at about $665,000. Finally, Pictet Asset Management Holding SA lifted its position in Johnson & Johnson by 12.3% during the fourth quarter. Pictet Asset Management Holding SA now owns 1,422,482 shares of the company's stock worth $205,719,000 after acquiring an additional 155,308 shares during the last quarter. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Johnson & Johnson Stock Down 1.2%

NYSE:JNJ traded down $1.99 during mid-day trading on Thursday, hitting $165.27. 4,547,807 shares of the company's stock were exchanged, compared to its average volume of 9,028,843. Johnson & Johnson has a one year low of $140.68 and a one year high of $169.99. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.01 and a quick ratio of 0.76. The business has a fifty day moving average price of $156.93 and a 200 day moving average price of $156.30. The company has a market cap of $398.02 billion, a PE ratio of 17.69, a P/E/G ratio of 2.14 and a beta of 0.41.

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, topping the consensus estimate of $2.68 by $0.09. The firm had revenue of $23.74 billion for the quarter, compared to the consensus estimate of $22.85 billion. Johnson & Johnson had a net margin of 25.00% and a return on equity of 32.49%. The business's revenue was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.82 earnings per share. Equities analysts predict that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 9th. Stockholders of record on Tuesday, August 26th will be issued a dividend of $1.30 per share. The ex-dividend date is Tuesday, August 26th. This represents a $5.20 annualized dividend and a dividend yield of 3.15%. Johnson & Johnson's payout ratio is 55.61%.

Wall Street Analyst Weigh In

JNJ has been the subject of several research analyst reports. Guggenheim reiterated a "neutral" rating and set a $167.00 price target (up from $164.00) on shares of Johnson & Johnson in a report on Thursday, July 17th. Bank of America increased their price objective on shares of Johnson & Johnson from $161.00 to $175.00 and gave the company a "neutral" rating in a research note on Thursday, July 17th. Benchmark raised shares of Johnson & Johnson to a "strong-buy" rating in a research report on Thursday, April 24th. Sanford C. Bernstein reaffirmed a "market perform" rating on shares of Johnson & Johnson in a report on Wednesday, April 16th. Finally, Piper Sandler reaffirmed an "overweight" rating on shares of Johnson & Johnson in a report on Thursday, July 17th. Nine equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $174.50.

Johnson & Johnson 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.