TCW Group Inc. Cuts Stock Holdings in Johnson & Johnson (NYSE:JNJ)

Key Points

• TCW Group Inc. reduced its stake in Johnson & Johnson by 34.5% in the first quarter, holding 73,181 shares valued at approximately $12.1 million after selling 38,464 shares.
• Several hedge funds increased their positions in Johnson & Johnson during the fourth quarter, with Geode Capital Management growing its holdings by 2.8% to over 57.6 million shares.
• Analysts have mixed views on Johnson & Johnson, with the stock being rated with ten buy ratings, nine hold ratings, and two strong buy ratings, leading to a consensus target price of $174.50.

TCW Group Inc. lowered its holdings in Johnson & Johnson (NYSE:JNJ - Free Report) by 34.5% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 73,181 shares of the company's stock after selling 38,464 shares during the period. TCW Group Inc.'s holdings in Johnson & Johnson were worth $12,136,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Brighton Jones LLC increased its stake in Johnson & Johnson by 13.9% in the 4th quarter. Brighton Jones LLC now owns 51,876 shares of the company's stock worth $7,502,000 after purchasing an additional 6,332 shares during the period. Hudson Value Partners LLC boosted its position in shares of Johnson & Johnson by 2.5% during the fourth 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 in the last quarter. WINTON GROUP Ltd bought a new stake in Johnson & Johnson in the fourth quarter worth $279,000. New Age Alpha Advisors LLC bought a new stake in Johnson & Johnson in the fourth quarter worth $665,000. Finally, American Money Management LLC boosted its holdings in Johnson & Johnson by 9.2% in the fourth quarter. American Money Management LLC now owns 37,404 shares of the company's stock worth $5,409,000 after acquiring an additional 3,148 shares in the last quarter. 69.55% of the stock is owned by hedge funds and other institutional investors.

Johnson & Johnson Stock Down 0.7%

NYSE JNJ traded down $1.21 during midday trading on Thursday, hitting $166.05. 2,915,722 shares of the company traded hands, compared to its average volume of 9,020,615. 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 company has a market cap of $399.90 billion, a PE ratio of 17.75, a price-to-earnings-growth ratio of 2.14 and a beta of 0.41. The company's 50-day simple moving average is $156.93 and its 200-day simple moving average is $156.30. Johnson & Johnson has a 52 week low of $140.68 and a 52 week high of $169.99.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last announced its earnings results on Wednesday, July 16th. The company reported $2.77 earnings per share (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 analysts' expectations of $22.85 billion. Johnson & Johnson had a return on equity of 32.49% and a net margin of 25.00%. The business's revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter last year, the firm earned $2.82 EPS. As a group, equities research analysts forecast that Johnson & Johnson will post 10.58 earnings per share 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 $1.30 dividend. The ex-dividend date of this dividend is Tuesday, August 26th. This represents a $5.20 annualized dividend and a dividend yield of 3.13%. Johnson & Johnson's dividend payout ratio (DPR) is presently 55.61%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on JNJ. Piper Sandler restated an "overweight" rating on shares of Johnson & Johnson in a research note on Thursday, July 17th. Leerink Partnrs lowered Johnson & Johnson from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 13th. Barclays boosted their price target on Johnson & Johnson from $165.00 to $176.00 and gave the company an "equal weight" rating in a report on Thursday, July 17th. Sanford C. Bernstein reaffirmed a "market perform" rating on shares of Johnson & Johnson in a research note on Wednesday, April 16th. Finally, Royal Bank Of Canada increased their price target on Johnson & Johnson from $181.00 to $185.00 and gave the company an "outperform" rating in a research note 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 issued 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 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.