Welch & Forbes LLC Has $160.73 Million Position in Johnson & Johnson $JNJ

Key Points

• Welch & Forbes LLC trimmed its Johnson & Johnson stake by 1.9% in the first quarter, but still held 657,528 shares valued at about $160.7 million. JNJ remains the firm’s 11th-largest position and makes up roughly 2.1% of its portfolio.
• Johnson & Johnson reported better-than-expected quarterly earnings, posting EPS of $2.70 versus estimates of $2.68 and revenue of $24.06 billion, up 9.9% year over year. The company also maintained strong profitability, with a net margin of 21.83% and ROE of 32.60%.
• Analysts remain generally upbeat on the stock, with several firms raising price targets and the consensus rating staying at Moderate Buy. Recent commentary also points to JNJ’s strong share performance and dividend appeal ahead of upcoming results.

Welch & Forbes LLC cut its stake in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 1.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 657,528 shares of the company's stock after selling 12,566 shares during the quarter. Johnson & Johnson makes up about 2.1% of Welch & Forbes LLC's portfolio, making the stock its 11th largest position. Welch & Forbes LLC's holdings in Johnson & Johnson were worth $160,726,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also bought and sold shares of the stock. Vanguard Group Inc. boosted its position in shares of Johnson & Johnson by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 240,349,660 shares of the company's stock worth $49,740,362,000 after purchasing an additional 3,731,074 shares in the last quarter. State Street Corp increased its position in Johnson & Johnson by 1.3% in the 4th quarter. State Street Corp now owns 133,869,843 shares of the company's stock valued at $27,704,364,000 after buying an additional 1,663,782 shares in the last quarter. Auto Owners Insurance Co raised its stake in Johnson & Johnson by 22,225.6% during the 4th quarter. Auto Owners Insurance Co now owns 69,419,308 shares of the company's stock worth $1,436,633,000 after buying an additional 69,108,368 shares during the period. Geode Capital Management LLC boosted its holdings in Johnson & Johnson by 3.1% in the fourth quarter. Geode Capital Management LLC now owns 57,953,747 shares of the company's stock worth $11,967,947,000 after acquiring an additional 1,738,292 shares in the last quarter. Finally, Norges Bank acquired a new stake in Johnson & Johnson in the fourth quarter valued at approximately $6,924,523,000. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Johnson & Johnson Stock Performance

NYSE JNJ opened at $257.82 on Tuesday. The company has a fifty day moving average price of $237.62 and a 200-day moving average price of $233.60. The firm has a market cap of $620.64 billion, a price-to-earnings ratio of 29.81, a PEG ratio of 2.51 and a beta of 0.24. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.03 and a quick ratio of 0.77. Johnson & Johnson has a 1 year low of $154.80 and a 1 year high of $269.43.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last released its quarterly earnings results on Tuesday, April 14th. The company reported $2.70 earnings per share for the quarter, beating analysts' consensus estimates of $2.68 by $0.02. Johnson & Johnson had a net margin of 21.83% and a return on equity of 32.60%. The company had revenue of $24.06 billion for the quarter, compared to analyst estimates of $23.60 billion. During the same period last year, the firm earned $2.77 earnings per share. The firm's revenue was up 9.9% on a year-over-year basis. As a group, equities research analysts predict that Johnson & Johnson will post 11.58 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Argus boosted their price objective on Johnson & Johnson from $240.00 to $275.00 and gave the company a "buy" rating in a report on Thursday, April 16th. Citigroup lifted their price target on shares of Johnson & Johnson from $285.00 to $298.00 and gave the company a "buy" rating in a research report on Wednesday, July 8th. Morgan Stanley boosted their price target on shares of Johnson & Johnson from $283.00 to $284.00 and gave the company an "overweight" rating in a research note on Wednesday, July 8th. Stifel Nicolaus upped their price objective on shares of Johnson & Johnson from $220.00 to $250.00 and gave the stock a "hold" rating in a report on Wednesday, April 15th. Finally, Royal Bank Of Canada lifted their price objective on shares of Johnson & Johnson from $265.00 to $287.00 and gave the company an "outperform" rating in a report on Monday. Twenty analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $261.26.

Trending Headlines about Johnson & Johnson

Here are the key news stories impacting Johnson & Johnson this week:

• Positive Sentiment: Royal Bank of Canada raised its price target on Johnson & Johnson (JNJ) to $287 from $265 and kept an outperform rating, implying additional upside as investors look ahead to earnings. Benzinga
• Positive Sentiment: Several market watchers highlighted JNJ as a potential buy before earnings, pointing to its strong year-to-date move, recent all-time highs, and the appeal of its dividend as capital rotates into healthcare names. The Real Case for Buying Johnson & Johnson (JNJ) Before July 15
• Positive Sentiment: Analysts and stock commentary remain focused on JNJ’s upcoming quarterly results, with expectations centered on continued operational strength despite patent and competitive headwinds. Zacks: Is JNJ Stock a Buy, Sell or Hold Ahead of Q2 Earnings Release?
• Neutral Sentiment: Broader market weakness weighed on Wall Street Monday, which could limit gains even for defensive names like JNJ. NASDAQ Snaps 3-Day Winning Streak as Oil Jumps Amid US-Iran Tensions
• Neutral Sentiment: Pre-earnings previews from Zacks, TipRanks, and Barron’s kept Johnson & Johnson in focus, but these pieces were mainly commentary ahead of the report rather than new company-specific catalysts. Zacks: Is Johnson & Johnson Stock Poised for New Highs as Q2 Results Approach?

Insider Buying and Selling

In other Johnson & Johnson news, EVP Kathryn E. Wengel sold 10,000 shares of the stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $241.15, for a total value of $2,411,500.00. Following the completion of the sale, the executive vice president owned 114,288 shares in the company, valued at approximately $27,560,551.20. This trade represents a 8.05% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.16% of the company's stock.

Johnson & Johnson Profile

Johnson & Johnson is a multinational healthcare company headquartered in New Brunswick, New Jersey, that develops, manufactures and markets a broad range of products across pharmaceuticals, medical devices and previously consumer health. Founded in 1886 by the Johnson family, the company has grown into a global healthcare organization with operations and sales in many countries around the world.

The company's pharmaceuticals business, organized largely under its Janssen research and development organization, focuses on prescription medicines across therapeutic areas such as immunology, infectious disease, oncology and neuroscience.

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