Northeast Investment Management Lowers Stake in Johnson & Johnson (NYSE:JNJ)

Posted by on Apr 15th, 2023

Northeast Investment Management cut its position in Johnson & Johnson (NYSE:JNJ – Get Rating) by 1.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 221,050 shares of the company’s stock after selling 2,637 shares during the quarter. Johnson & Johnson makes up approximately 2.5% of Northeast Investment Management’s investment portfolio, making the stock its 13th largest holding. Northeast Investment Management’s holdings in Johnson & Johnson were worth $39,049,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in JNJ. Nordwand Advisors LLC purchased a new stake in Johnson & Johnson in the 4th quarter worth approximately $785,273,000. Vanguard Group Inc. lifted its position 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 valued at $40,078,885,000 after buying an additional 2,815,655 shares in the last quarter. GQG Partners LLC lifted its position in shares of Johnson & Johnson by 64.4% during the 1st quarter. GQG Partners LLC now owns 6,501,761 shares of the company’s stock valued at $1,151,931,000 after buying an additional 2,547,378 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of Johnson & Johnson by 37.2% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 6,653,610 shares of the company’s stock valued at $1,179,219,000 after buying an additional 1,805,632 shares in the last quarter. Finally, First Trust Advisors LP raised its stake in Johnson & Johnson by 62.6% in the 1st quarter. First Trust Advisors LP now owns 2,785,312 shares of the company’s stock valued at $493,640,000 after purchasing an additional 1,072,104 shares during the last quarter. 67.94% of the stock is currently owned by institutional investors.

Johnson & Johnson Trading Down 0.2 %

JNJ opened at $165.84 on Friday. The firm has a market cap of $431.90 billion, a price-to-earnings ratio of 24.61, a price-to-earnings-growth ratio of 2.83 and a beta of 0.53. The company has a quick ratio of 0.77, a current ratio of 0.99 and a debt-to-equity ratio of 0.35. The business’s 50 day moving average is $157.46 and its two-hundred day moving average is $167.01. Johnson & Johnson has a 52 week low of $150.11 and a 52 week high of $186.69.

Johnson & Johnson (NYSE:JNJ – Get Rating) last released its earnings results on Tuesday, January 24th. The company reported $2.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.22 by $0.13. The business had revenue of $23.71 billion for the quarter, compared to analyst estimates of $23.90 billion. Johnson & Johnson had a return on equity of 35.76% and a net margin of 18.90%. The company’s revenue for the quarter was down 4.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.13 earnings per share. On average, research analysts predict that Johnson & Johnson will post 10.49 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Piper Sandler cut their price objective on Johnson & Johnson from $55.00 to $52.00 in a research report on Monday, February 6th. SVB Leerink lowered their target price on Johnson & Johnson from $194.00 to $186.00 and set an “outperform” rating for the company in a report on Friday, January 20th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $215.00 price objective on shares of Johnson & Johnson in a research note on Wednesday, February 1st. Morgan Stanley decreased their price objective on Johnson & Johnson from $180.00 to $179.00 and set an “equal weight” rating for the company in a research note on Monday, April 10th. Finally, Guggenheim started coverage on Johnson & Johnson in a research note on Tuesday, February 28th. They issued a “neutral” rating and a $161.00 price objective for the company. Seven equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Johnson & Johnson has a consensus rating of “Moderate Buy” and an average target price of $173.07.

Insider Activity

In related news, insider James D. Swanson sold 1,062 shares of Johnson & Johnson stock in a transaction that occurred 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 sale, the insider now directly owns 9,215 shares in the company, valued at $1,425,191.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.20% of the company’s stock.

Johnson & Johnson Profile

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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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