Brooktree Capital Management Sells 833 Shares of Johnson & Johnson (NYSE:JNJ)

Brooktree Capital Management reduced its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 2.7% in the fourth quarter, Holdings Channel reports. The institutional investor owned 29,757 shares of the company’s stock after selling 833 shares during the period. Johnson & Johnson makes up 3.8% of Brooktree Capital Management’s investment portfolio, making the stock its 11th largest holding. Brooktree Capital Management’s holdings in Johnson & Johnson were worth $4,664,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in JNJ. International Assets Investment Management LLC boosted its holdings in Johnson & Johnson by 7,875.8% during the 4th quarter. International Assets Investment Management LLC now owns 2,090,384 shares of the company’s stock worth $327,647,000 after acquiring an additional 2,064,175 shares during the last quarter. LSV Asset Management boosted its holdings in Johnson & Johnson by 89.9% during the third quarter. LSV Asset Management now owns 2,251,770 shares of the company’s stock worth $350,713,000 after purchasing an additional 1,065,880 shares during the last quarter. abrdn plc grew its position in Johnson & Johnson by 104.1% in the 4th quarter. abrdn plc now owns 2,014,743 shares of the company’s stock worth $315,791,000 after purchasing an additional 1,027,441 shares in the last quarter. Commerzbank Aktiengesellschaft FI increased its stake in Johnson & Johnson by 2,264.8% in the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 822,725 shares of the company’s stock valued at $128,139,000 after buying an additional 787,934 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its position in shares of Johnson & Johnson by 22.2% during the 3rd quarter. Envestnet Asset Management Inc. now owns 3,957,429 shares of the company’s stock worth $616,370,000 after buying an additional 719,472 shares in the last quarter. 69.55% of the stock is owned by institutional investors.

Insider Buying and Selling at Johnson & Johnson

In other Johnson & Johnson news, major shareholder & Johnson Johnson sold 3,725 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $25.81, for a total transaction of $96,142.25. Following the completion of the transaction, the insider now owns 4,099,575 shares of the company’s stock, valued at approximately $105,810,030.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Johnson & Johnson news, major shareholder & Johnson Johnson sold 3,725 shares of Johnson & Johnson stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $25.81, for a total transaction of $96,142.25. Following the sale, the insider now directly owns 4,099,575 shares of the company’s stock, valued at approximately $105,810,030.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Jennifer L. Taubert sold 59,397 shares of the stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $156.27, for a total value of $9,281,969.19. Following the completion of the transaction, the executive vice president now directly owns 141,416 shares of the company’s stock, valued at approximately $22,099,078.32. The disclosure for this sale can be found here. 0.16% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

JNJ has been the subject of a number of research analyst reports. HSBC raised Johnson & Johnson from a “hold” rating to a “buy” rating and increased their price target for the company from $169.00 to $170.00 in a research report on Thursday, April 18th. Cantor Fitzgerald reiterated an “overweight” rating and set a $215.00 target price on shares of Johnson & Johnson in a research note on Monday, April 15th. Bank of America reduced their price target on shares of Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating for the company in a research report on Wednesday, April 17th. Royal Bank of Canada lowered their price objective on shares of Johnson & Johnson from $181.00 to $175.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 17th. Finally, Morgan Stanley reduced their target price on shares of Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 17th. Seven analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $175.86.

Johnson & Johnson Stock Down 0.4 %

Shares of NYSE JNJ opened at $149.27 on Monday. The business has a 50-day simple moving average of $154.19 and a two-hundred day simple moving average of $155.03. Johnson & Johnson has a 52 week low of $143.13 and a 52 week high of $175.97. The company has a market cap of $359.25 billion, a P/E ratio of 9.31, a P/E/G ratio of 2.46 and a beta of 0.55. The company has a quick ratio of 0.91, a current ratio of 1.17 and a debt-to-equity ratio of 0.36.

Johnson & Johnson (NYSE:JNJ) last announced its earnings results on Tuesday, April 16th. The company reported $2.71 earnings per share for the quarter, topping analysts’ consensus estimates of $2.64 by $0.07. Johnson & Johnson had a return on equity of 36.70% and a net margin of 45.26%. The business had revenue of $21.38 billion for the quarter, compared to analyst estimates of $21.39 billion. During the same period in the prior year, the company earned $2.68 EPS. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. Research analysts anticipate that Johnson & Johnson will post 10.65 earnings per share for the current fiscal year.

Johnson & Johnson Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 21st will be paid a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.32%. The ex-dividend date of this dividend is Monday, May 20th. This is a positive change from Johnson & Johnson’s previous quarterly dividend of $1.19. Johnson & Johnson’s payout ratio is 29.68%.

About Johnson & Johnson

Johnson & Johnson, together with its subsidiaries, researches, develops, manufactures, and sells various products in the healthcare field worldwide. The company's Innovative Medicine segment offers products for various therapeutic areas, such as immunology, including rheumatoid arthritis, psoriatic arthritis, inflammatory bowel disease, and psoriasis; infectious diseases comprising HIV/AIDS; neuroscience, consisting of mood disorders, neurodegenerative disorders, and schizophrenia; oncology, such as prostate cancer, hematologic malignancies, lung cancer, and bladder cancer; cardiovascular and metabolism, including thrombosis, diabetes, and macular degeneration; and pulmonary hypertension comprising pulmonary arterial hypertension through retailers, wholesalers, distributors, hospitals, and healthcare professionals for prescription use.