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Prudential PLC Boosts Stake in Johnson & Johnson (NYSE:JNJ)

Johnson & Johnson logo with Medical background

Key Points

  • Prudential PLC increased its stake in Johnson & Johnson by 14.6%, acquiring 33,755 shares to hold a total of 264,588 shares worth $43.88 million as of its latest SEC filing.
  • Johnson & Johnson reported $2.77 EPS for the last quarter, surpassing analysts' estimates, with a 5.8% year-over-year revenue increase to $23.74 billion.
  • The company declared a quarterly dividend of $1.30 per share, with a yield of 3.0%, set to be paid on September 9th to investors of record by August 26th.
  • Looking to export and analyze Johnson & Johnson data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

Prudential PLC boosted its stake in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 14.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 264,588 shares of the company's stock after buying an additional 33,755 shares during the period. Prudential PLC's holdings in Johnson & Johnson were worth $43,879,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Brighton Jones LLC lifted its holdings in shares of Johnson & Johnson by 13.9% during the 4th 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 during the last quarter. Hudson Value Partners LLC lifted its holdings in shares of Johnson & Johnson by 2.5% during the 4th quarter. Hudson Value Partners LLC now owns 41,403 shares of the company's stock valued at $5,648,000 after purchasing an additional 1,022 shares during the last quarter. Cohen & Steers Inc. lifted its holdings in shares of Johnson & Johnson by 5.3% during the 4th quarter. Cohen & Steers Inc. now owns 2,472 shares of the company's stock valued at $358,000 after purchasing an additional 125 shares during the last quarter. Mariner LLC increased its position in shares of Johnson & Johnson by 2.4% in the 4th quarter. Mariner LLC now owns 1,615,121 shares of the company's stock valued at $233,566,000 after acquiring an additional 38,169 shares during the period. Finally, CreativeOne Wealth LLC raised its stake in Johnson & Johnson by 69.1% in the 4th quarter. CreativeOne Wealth LLC now owns 28,241 shares of the company's stock worth $4,084,000 after acquiring an additional 11,541 shares during the last quarter. Hedge funds and other institutional investors own 69.55% of the company's stock.

Johnson & Johnson Price Performance

NYSE:JNJ opened at $173.98 on Tuesday. Johnson & Johnson has a 52 week low of $140.68 and a 52 week high of $174.60. The company has a quick ratio of 0.76, a current ratio of 1.01 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $418.99 billion, a PE ratio of 18.61, a price-to-earnings-growth ratio of 2.21 and a beta of 0.41. The stock's 50-day moving average price is $159.63 and its 200-day moving average price is $157.79.

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

Johnson & Johnson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 9th. Investors of record on Tuesday, August 26th will be issued 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 payout ratio is presently 55.61%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Bank of America raised their target price on Johnson & Johnson from $161.00 to $175.00 and gave the stock a "neutral" rating in a research note on Thursday, July 17th. Royal Bank Of Canada raised their target price on Johnson & Johnson from $181.00 to $185.00 and gave the stock an "outperform" rating in a research note on Thursday, July 17th. Sanford C. Bernstein restated a "market perform" rating on shares of Johnson & Johnson in a research note on Wednesday, April 16th. Piper Sandler restated an "overweight" rating on shares of Johnson & Johnson in a research note on Thursday, July 17th. Finally, Guggenheim reaffirmed a "neutral" rating and set a $167.00 price target (up from $164.00) on shares of Johnson & Johnson 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 issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Johnson & Johnson has a consensus rating of "Moderate Buy" and a consensus price target of $174.50.

View Our Latest Stock Report on JNJ

Johnson & Johnson Company Profile

(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.

Further Reading

Institutional Ownership by Quarter for Johnson & Johnson (NYSE:JNJ)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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