Allspring Global Investments Holdings LLC Has $137.12 Million Position in Johnson & Johnson (NYSE:JNJ)

Posted by on Apr 5th, 2023

Allspring Global Investments Holdings LLC lowered its position in shares of Johnson & Johnson (NYSE:JNJ – Get Rating) by 14.4% in the fourth quarter, Holdings Channel reports. The firm owned 776,231 shares of the company’s stock after selling 130,200 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Johnson & Johnson were worth $137,121,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the company. Glassy Mountain Advisors Inc. acquired a new position in shares of Johnson & Johnson in the fourth quarter valued at approximately $35,000. Retirement Financial Solutions LLC acquired a new position in shares of Johnson & Johnson in the fourth quarter valued at approximately $40,000. TD Capital Management LLC acquired a new position in shares of Johnson & Johnson in the third quarter valued at approximately $48,000. Iron Horse Wealth Management LLC boosted its holdings in shares of Johnson & Johnson by 112.8% in the fourth quarter. Iron Horse Wealth Management LLC now owns 300 shares of the company’s stock valued at $53,000 after buying an additional 159 shares during the period. Finally, Cowa LLC acquired a new position in shares of Johnson & Johnson in the third quarter valued at approximately $58,000. Institutional investors and hedge funds own 67.94% of the company’s stock.

Johnson & Johnson Price Performance

NYSE:JNJ opened at $158.49 on Wednesday. Johnson & Johnson has a one year low of $150.11 and a one year high of $186.69. The company has a market cap of $412.75 billion, a P/E ratio of 23.51, a P/E/G ratio of 2.67 and a beta of 0.53. The firm’s fifty day moving average price is $157.59 and its two-hundred day moving average price is $167.05. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.99 and a quick ratio of 0.77.

Johnson & Johnson (NYSE:JNJ – Get Rating) last released its quarterly earnings data on Tuesday, January 24th. The company reported $2.35 EPS for the quarter, beating the consensus estimate of $2.22 by $0.13. Johnson & Johnson had a net margin of 18.90% and a return on equity of 35.76%. The firm had revenue of $23.71 billion for the quarter, compared to the consensus estimate of $23.90 billion. During the same period in the previous year, the company earned $2.13 earnings per share. The company’s quarterly revenue was down 4.4% on a year-over-year basis. Equities analysts expect that Johnson & Johnson will post 10.5 earnings per share for the current year.

Insider Buying and Selling at Johnson & Johnson

In related news, insider James D. Swanson sold 1,062 shares of the company’s stock in a transaction dated Monday, March 6th. The shares were sold at an average price of $154.66, for a total value of $164,248.92. Following the transaction, the insider now directly owns 9,215 shares in the company, valued at $1,425,191.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. UBS Group started coverage on shares of Johnson & Johnson in a report on Tuesday, March 28th. They issued a “neutral” rating and a $164.00 price target for the company. Citigroup boosted their price objective on shares of Johnson & Johnson from $198.00 to $205.00 and gave the stock a “buy” rating in a research report on Monday, December 12th. Atlantic Securities boosted their price objective on shares of Johnson & Johnson from $160.00 to $168.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 25th. Morgan Stanley boosted their price objective on shares of Johnson & Johnson from $176.00 to $180.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 25th. Finally, Guggenheim started coverage on shares of Johnson & Johnson in a research report on Tuesday, February 28th. They issued a “neutral” rating and a $161.00 price objective on the stock. Eight research 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 company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $173.67.

About Johnson & Johnson

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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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Institutional Ownership by Quarter for Johnson & Johnson (NYSE:JNJ)

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