Johnson & Johnson (NYSE:JNJ) Shares Sold by Mach 1 Financial Group LLC

Mach 1 Financial Group LLC lowered its position in shares of Johnson & Johnson (NYSE:JNJ) by 46.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 7,402 shares of the company’s stock after selling 6,447 shares during the period. Mach 1 Financial Group LLC’s holdings in Johnson & Johnson were worth $1,160,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in JNJ. International Assets Investment Management LLC raised its stake in shares of 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 buying an additional 2,064,175 shares in the last quarter. LSV Asset Management raised its position in Johnson & Johnson by 89.9% in the third quarter. LSV Asset Management now owns 2,251,770 shares of the company’s stock worth $350,713,000 after acquiring an additional 1,065,880 shares in the last quarter. abrdn plc boosted its position in shares of Johnson & Johnson by 104.1% during 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 holdings in shares of 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 purchasing an additional 787,934 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its stake in shares of 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 during the period. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Johnson & Johnson Stock Performance

Shares of JNJ stock opened at $149.27 on Monday. The firm has a market capitalization of $359.25 billion, a price-to-earnings ratio of 9.31, a price-to-earnings-growth ratio of 2.46 and a beta of 0.55. The company has a 50 day moving average price of $154.19 and a 200 day moving average price of $155.03. Johnson & Johnson has a one year low of $143.13 and a one year high of $175.97. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.91 and a current ratio of 1.17.

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

Johnson & Johnson Increases Dividend

The firm also recently disclosed 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 represents a $4.96 annualized dividend and a dividend yield of 3.32%. This is a positive change from Johnson & Johnson’s previous quarterly dividend of $1.19. Johnson & Johnson’s dividend payout ratio is presently 29.68%.

Insider Activity at Johnson & Johnson

In other news, EVP Jennifer L. Taubert sold 59,397 shares of the stock in a transaction dated 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 sale, the executive vice president now owns 141,416 shares in the company, valued at $22,099,078.32. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Johnson & Johnson news, major shareholder & Johnson Johnson sold 3,725 shares of Johnson & Johnson stock in a transaction on 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 transaction, the insider now owns 4,099,575 shares of the company’s stock, valued at $105,810,030.75. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Jennifer L. Taubert sold 59,397 shares of Johnson & Johnson stock in a transaction dated Friday, February 9th. The shares were 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 directly owns 141,416 shares of the company’s stock, valued at $22,099,078.32. The disclosure for this sale can be found here. Company insiders own 0.16% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on JNJ shares. Cantor Fitzgerald reiterated an “overweight” rating and set a $215.00 price target on shares of Johnson & Johnson in a research report on Monday, April 15th. 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 research report on Wednesday, April 17th. StockNews.com raised Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, February 6th. HSBC raised shares of Johnson & Johnson from a “hold” rating to a “buy” rating and increased their price objective for the company from $169.00 to $170.00 in a research note on Thursday, April 18th. Finally, Royal Bank of Canada reduced their price target on shares of Johnson & Johnson from $181.00 to $175.00 and set an “outperform” rating on the stock in a report on Wednesday, April 17th. Seven investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $175.86.

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.