Harvey Investment Co. LLC reduced its stake in shares of Johnson & Johnson (NYSE:JNJ – Get Rating) by 0.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 224,416 shares of the company’s stock after selling 935 shares during the period. Johnson & Johnson accounts for about 5.1% of Harvey Investment Co. LLC’s portfolio, making the stock its 3rd largest holding. Harvey Investment Co. LLC’s holdings in Johnson & Johnson were worth $39,643,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of Johnson & Johnson by 1.2% during the 3rd quarter. Vanguard Group Inc. now owns 245,340,875 shares of the company’s stock worth $40,078,885,000 after purchasing an additional 2,815,655 shares during the last quarter. State Street Corp boosted its holdings in shares of Johnson & Johnson by 0.6% during the 3rd quarter. State Street Corp now owns 141,886,311 shares of the company’s stock worth $23,178,548,000 after purchasing an additional 803,013 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Johnson & Johnson by 3.3% in the third quarter. Price T Rowe Associates Inc. MD now owns 25,428,626 shares of the company’s stock valued at $4,154,022,000 after acquiring an additional 805,831 shares during the last quarter. Legal & General Group Plc lifted its holdings in Johnson & Johnson by 2.3% in the second quarter. Legal & General Group Plc now owns 18,839,914 shares of the company’s stock valued at $3,344,295,000 after acquiring an additional 421,779 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Johnson & Johnson by 1.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 17,189,229 shares of the company’s stock valued at $3,046,449,000 after acquiring an additional 328,297 shares during the last quarter. 67.94% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of research firms recently commented on JNJ. Piper Sandler decreased their price objective on Johnson & Johnson from $55.00 to $52.00 in a report on Monday, February 6th. Guggenheim began coverage on Johnson & Johnson in a report on Tuesday, February 28th. They issued a “neutral” rating and a $161.00 price objective on the stock. Citigroup upped their price objective on Johnson & Johnson from $198.00 to $205.00 and gave the company a “buy” rating in a report on Monday, December 12th. Morgan Stanley upped their price target on Johnson & Johnson from $176.00 to $180.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 25th. Finally, UBS Group initiated coverage on Johnson & Johnson in a research note on Tuesday, March 28th. They set a “neutral” rating and a $164.00 price target on the stock. Eight investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $173.67.
Johnson & Johnson Stock Up 1.0 %
Johnson & Johnson (NYSE:JNJ – Get Rating) last posted its quarterly earnings data on Tuesday, January 24th. The company reported $2.35 earnings per share for the quarter, topping analysts’ consensus estimates of $2.22 by $0.13. Johnson & Johnson had a return on equity of 35.76% and a net margin of 18.90%. The business had revenue of $23.71 billion for the quarter, compared to analyst estimates of $23.90 billion. During the same quarter in the prior year, the company earned $2.13 earnings per share. The company’s revenue was down 4.4% on a year-over-year basis. As a group, equities analysts expect that Johnson & Johnson will post 10.5 earnings per share for the current fiscal year.
Johnson & Johnson Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 7th. Investors of record on Tuesday, February 21st were issued a $1.13 dividend. This represents a $4.52 annualized dividend and a yield of 2.92%. The ex-dividend date was Friday, February 17th. Johnson & Johnson’s dividend payout ratio (DPR) is presently 67.06%.
Insider Activity at Johnson & Johnson
In related news, insider James D. Swanson sold 1,062 shares of the stock in a transaction on Monday, March 6th. The stock was sold at an average price of $154.66, for a total value of $164,248.92. Following the transaction, the insider now owns 9,215 shares of the company’s stock, valued at $1,425,191.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.35% of the stock is currently owned by corporate insiders.
Johnson & Johnson Company Profile
Johnson & Johnson is a holding company, which engages in the research and development, manufacture and sale of products in the health care field. It operates through the following segments: Consumer Health, Pharmaceutical, and MedTech. The Consumer Health segment includes products focused on personal healthcare used in the Skin Health/Beauty, Over-the-Counter medicines, Baby Care, Oral Care, Women’s Health and Wound Care markets.
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