Johnson & Johnson (NYSE:JNJ) Holdings Reduced by M&G Investment Management Ltd.

Posted by Defense World Staff on Apr 16th, 2023

M&G Investment Management Ltd. cut its stake in Johnson & Johnson (NYSE:JNJ – Get Rating) by 2.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 509,072 shares of the company’s stock after selling 12,176 shares during the period. M&G Investment Management Ltd.’s holdings in Johnson & Johnson were worth $90,106,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Lincoln Capital Corp boosted its holdings in shares of Johnson & Johnson by 15.9% in the third quarter. Lincoln Capital Corp now owns 1,332 shares of the company’s stock valued at $218,000 after acquiring an additional 183 shares in the last quarter. Ieq Capital LLC boosted its holdings in shares of Johnson & Johnson by 5.1% in the third quarter. Ieq Capital LLC now owns 128,012 shares of the company’s stock valued at $20,912,000 after acquiring an additional 6,154 shares in the last quarter. RFG Advisory LLC boosted its holdings in shares of Johnson & Johnson by 2.7% in the third quarter. RFG Advisory LLC now owns 22,434 shares of the company’s stock valued at $3,900,000 after acquiring an additional 594 shares in the last quarter. Willis Investment Counsel lifted its stake in Johnson & Johnson by 0.4% during the fourth quarter. Willis Investment Counsel now owns 328,884 shares of the company’s stock valued at $58,097,000 after purchasing an additional 1,358 shares during the last quarter. Finally, FDx Advisors Inc. lifted its stake in Johnson & Johnson by 0.3% during the third quarter. FDx Advisors Inc. now owns 50,421 shares of the company’s stock valued at $8,237,000 after purchasing an additional 153 shares during the last quarter. 67.94% of the stock is currently owned by institutional investors.

Insider Transactions at Johnson & Johnson

In related news, insider James D. Swanson sold 1,062 shares of the firm’s stock in a transaction on 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 approximately $1,425,191.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.20% of the stock is currently owned by company insiders.

Johnson & Johnson Stock Performance

Shares of JNJ opened at $165.84 on Friday. The company’s fifty day moving average is $157.46 and its 200-day moving average is $167.02. Johnson & Johnson has a 12 month low of $150.11 and a 12 month high of $186.69. 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.

Johnson & Johnson (NYSE:JNJ – Get Rating) last announced its quarterly earnings results on Tuesday, January 24th. The company reported $2.35 EPS for the quarter, topping 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 company 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 business posted $2.13 EPS. Johnson & Johnson’s quarterly revenue was down 4.4% on a year-over-year basis. Equities analysts expect that Johnson & Johnson will post 10.49 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on JNJ. Guggenheim began coverage on shares of Johnson & Johnson in a research note on Tuesday, February 28th. They set a “neutral” rating and a $161.00 target price for the company. Piper Sandler cut their target price on shares of Johnson & Johnson from $55.00 to $52.00 in a research note on Monday, February 6th. StockNews.com assumed coverage on shares of Johnson & Johnson in a research note on Thursday, March 16th. They set a “strong-buy” rating for the company. Morgan Stanley reduced their price target on shares of Johnson & Johnson from $180.00 to $179.00 and set an “equal weight” rating for the company in a research report on Monday, April 10th. Finally, SVB Leerink reduced their price target on shares of Johnson & Johnson from $194.00 to $186.00 and set an “outperform” rating for the company in a research report on Friday, January 20th. Seven research 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 company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $173.07.

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.