AHL Investment Management Inc. trimmed its position in shares of Johnson & Johnson (NYSE:JNJ – Get Rating) by 0.9% during the 1st quarter, Holdings Channel reports. The fund owned 13,470 shares of the company’s stock after selling 119 shares during the period. Johnson & Johnson makes up approximately 2.2% of AHL Investment Management Inc.’s investment portfolio, making the stock its 19th biggest position. AHL Investment Management Inc.’s holdings in Johnson & Johnson were worth $2,387,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of JNJ. Norges Bank purchased a new stake in shares of Johnson & Johnson during the 4th quarter worth approximately $4,172,929,000. BlackRock Inc. raised its holdings in shares of Johnson & Johnson by 2.6% during the 4th quarter. BlackRock Inc. now owns 200,021,352 shares of the company’s stock worth $34,217,654,000 after acquiring an additional 4,982,885 shares in the last quarter. GQG Partners LLC raised its holdings in shares of Johnson & Johnson by 1,109.4% during the 4th quarter. GQG Partners LLC now owns 3,954,383 shares of the company’s stock worth $676,375,000 after acquiring an additional 3,627,424 shares in the last quarter. State Street Corp raised its holdings in shares of Johnson & Johnson by 1.8% during the 4th quarter. State Street Corp now owns 144,677,639 shares of the company’s stock worth $24,750,004,000 after acquiring an additional 2,492,359 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC purchased a new stake in Johnson & Johnson during the 4th quarter valued at $269,447,000. 68.78% of the stock is owned by hedge funds and other institutional investors.
Insider Transactions at Johnson & Johnson
In related news, EVP Kathryn E. Wengel sold 40,000 shares of the firm’s stock in a transaction dated Friday, June 10th. The stock was sold at an average price of $173.00, for a total transaction of $6,920,000.00. Following the sale, the executive vice president now owns 71,311 shares of the company’s stock, valued at $12,336,803. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CAO Robert J. Decker sold 8,462 shares of the firm’s stock in a transaction dated Thursday, May 26th. The stock was sold at an average price of $180.00, for a total transaction of $1,523,160.00. Following the sale, the chief accounting officer now owns 15,473 shares of the company’s stock, valued at $2,785,140. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Kathryn E. Wengel sold 40,000 shares of the firm’s stock in a transaction dated Friday, June 10th. The shares were sold at an average price of $173.00, for a total value of $6,920,000.00. Following the sale, the executive vice president now directly owns 71,311 shares in the company, valued at approximately $12,336,803. The disclosure for this sale can be found here. Corporate insiders own 0.35% of the company’s stock.
Wall Street Analysts Forecast Growth
Several analysts recently weighed in on JNJ shares. Wells Fargo & Company increased their price target on Johnson & Johnson from $190.00 to $195.00 and gave the company an “overweight” rating in a report on Wednesday, July 13th. Citigroup decreased their price target on Johnson & Johnson from $205.00 to $201.00 in a report on Wednesday. Credit Suisse Group increased their price target on Johnson & Johnson from $200.00 to $205.00 and gave the company an “outperform” rating in a report on Wednesday, April 20th. Daiwa Capital Markets initiated coverage on Johnson & Johnson in a report on Wednesday, June 22nd. They set an “outperform” rating on the stock. Finally, The Goldman Sachs Group upped their price objective on Johnson & Johnson from $163.00 to $181.00 and gave the company a “neutral” rating in a research report on Tuesday, April 12th. Four analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Johnson & Johnson has a consensus rating of “Moderate Buy” and an average price target of $189.89.
Johnson & Johnson Price Performance
JNJ opened at $172.12 on Friday. Johnson & Johnson has a 12-month low of $155.72 and a 12-month high of $186.69. The company has a current ratio of 1.39, a quick ratio of 1.14 and a debt-to-equity ratio of 0.39. The business’s fifty day simple moving average is $176.25 and its 200-day simple moving average is $174.36. The company has a market capitalization of $452.92 billion, a price-to-earnings ratio of 25.05, a PEG ratio of 3.48 and a beta of 0.63.
Johnson & Johnson (NYSE:JNJ – Get Rating) last posted its quarterly earnings results on Tuesday, July 19th. The company reported $2.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.57 by $0.02. Johnson & Johnson had a return on equity of 36.56% and a net margin of 19.21%. The business had revenue of $24.02 billion for the quarter, compared to the consensus estimate of $23.85 billion. During the same quarter in the prior year, the company earned $2.48 EPS. The business’s revenue was up 3.0% compared to the same quarter last year. On average, equities research analysts anticipate that Johnson & Johnson will post 10.05 earnings per share for the current fiscal year.
Johnson & Johnson Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 6th. Stockholders of record on Tuesday, August 23rd will be given a dividend of $1.13 per share. This represents a $4.52 dividend on an annualized basis and a dividend yield of 2.63%. The ex-dividend date is Monday, August 22nd. Johnson & Johnson’s payout ratio is 65.79%.
About Johnson & Johnson
Johnson & Johnson, together with its subsidiaries, researches and develops, manufactures, and sells various products in the healthcare field worldwide. The company’s Consumer Health segment offers baby care products under the JOHNSON’S and AVEENO Baby brands; oral care products under the LISTERINE brand; skin health/beauty products under the AVEENO, CLEAN & CLEAR, DR.
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