Cannell & Co. Has $20.26 Million Stock Position in Johnson & Johnson (NYSE:JNJ)

Cannell & Co. increased its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 0.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 129,265 shares of the company’s stock after buying an additional 283 shares during the quarter. Cannell & Co.’s holdings in Johnson & Johnson were worth $20,261,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. International Assets Investment Management LLC boosted its holdings in shares of Johnson & Johnson by 7,875.8% in the fourth quarter. International Assets Investment Management LLC now owns 2,090,384 shares of the company’s stock valued at $327,647,000 after buying an additional 2,064,175 shares during the period. LSV Asset Management lifted its holdings in shares of Johnson & Johnson by 89.9% in the third quarter. LSV Asset Management now owns 2,251,770 shares of the company’s stock valued at $350,713,000 after purchasing an additional 1,065,880 shares in the last quarter. abrdn plc raised 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 valued at $315,791,000 after buying an additional 1,027,441 shares during the last quarter. Commerzbank Aktiengesellschaft FI raised its holdings in shares of Johnson & Johnson by 2,264.8% in the third quarter. Commerzbank Aktiengesellschaft FI now owns 822,725 shares of the company’s stock valued at $128,139,000 after purchasing an additional 787,934 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its position in Johnson & Johnson by 22.2% in the third quarter. Envestnet Asset Management Inc. now owns 3,957,429 shares of the company’s stock valued at $616,370,000 after purchasing an additional 719,472 shares in the last quarter. 69.55% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

JNJ has been the topic of several analyst reports. Morgan Stanley dropped their target price on Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 17th. StockNews.com raised shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, February 6th. HSBC upgraded Johnson & Johnson from a “hold” rating to a “buy” rating and lifted their price target for the stock from $169.00 to $170.00 in a report on Thursday, April 18th. Bank of America decreased their target price on Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating on the stock in a report on Wednesday, April 17th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $215.00 price objective on shares of Johnson & Johnson in a research report on Monday, April 15th. Seven investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $175.86.

Johnson & Johnson Stock Down 0.4 %

Shares of JNJ opened at $149.27 on Monday. The stock has a market capitalization of $359.25 billion, a PE ratio of 9.31, a P/E/G ratio of 2.46 and a beta of 0.55. Johnson & Johnson has a 12 month low of $143.13 and a 12 month high of $175.97. The company has a current ratio of 1.17, a quick ratio of 0.91 and a debt-to-equity ratio of 0.36. The firm’s 50 day moving average is $154.19 and its 200-day moving average is $155.03.

Johnson & Johnson (NYSE:JNJ) last released its earnings results on Tuesday, April 16th. The company reported $2.71 earnings per share for the quarter, beating 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 firm had revenue of $21.38 billion during the quarter, compared to the consensus estimate of $21.39 billion. During the same period in the prior year, the company posted $2.68 EPS. The company’s revenue was up 2.3% compared to the same quarter last year. Equities research analysts forecast that Johnson & Johnson will post 10.65 EPS for the current year.

Johnson & Johnson Increases Dividend

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

Insider Buying and Selling

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

Johnson & Johnson Profile

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.