Schmidt P J Investment Management Inc. Lowers Position in Johnson & Johnson (NYSE:JNJ)

Posted by Defense World Staff on Apr 26th, 2023

Schmidt P J Investment Management Inc. decreased its stake in shares of Johnson & Johnson (NYSE:JNJ – Get Rating) by 5.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 30,737 shares of the company’s stock after selling 1,606 shares during the quarter. Johnson & Johnson accounts for about 1.2% of Schmidt P J Investment Management Inc.’s holdings, making the stock its 25th biggest position. Schmidt P J Investment Management Inc.’s holdings in Johnson & Johnson were worth $5,430,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in JNJ. Nordwand Advisors LLC purchased a new position in Johnson & Johnson during the fourth quarter valued at $785,273,000. Edmp Inc. raised its stake in shares of Johnson & Johnson by 17,222.9% in the fourth quarter. Edmp Inc. now owns 3,223,265 shares of the company’s stock worth $18,247,000 after purchasing an additional 3,204,658 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Johnson & Johnson by 1.2% in the third 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. GQG Partners LLC raised its stake in shares of Johnson & Johnson by 64.4% in the first quarter. GQG Partners LLC now owns 6,501,761 shares of the company’s stock worth $1,151,931,000 after purchasing an additional 2,547,378 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its stake in shares of Johnson & Johnson by 37.2% in the first quarter. Arrowstreet Capital Limited Partnership now owns 6,653,610 shares of the company’s stock worth $1,179,219,000 after purchasing an additional 1,805,632 shares during the last quarter. Hedge funds and other institutional investors own 67.94% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. SVB Leerink decreased their price target on Johnson & Johnson from $194.00 to $186.00 and set an “outperform” rating for the company in a research note on Friday, January 20th. Guggenheim assumed coverage on Johnson & Johnson in a research note on Tuesday, February 28th. They issued a “neutral” rating and a $161.00 price target for the company. UBS Group initiated coverage on Johnson & Johnson in a research note on Tuesday, March 28th. They issued a “neutral” rating and a $164.00 price target for the company. StockNews.com initiated coverage on Johnson & Johnson in a report on Thursday, March 16th. They issued a “strong-buy” rating for the company. Finally, Piper Sandler cut their price objective on Johnson & Johnson from $55.00 to $52.00 in a report on Monday, February 6th. Seven investment 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. Based on data from MarketBeat, Johnson & Johnson currently has an average rating of “Moderate Buy” and a consensus price target of $173.00.

Johnson & Johnson Stock Performance

NYSE:JNJ opened at $165.18 on Wednesday. The stock has a 50-day simple moving average of $157.57 and a two-hundred day simple moving average of $167.03. Johnson & Johnson has a 52-week low of $150.11 and a 52-week high of $186.57. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.77 and a current ratio of 0.99. The firm has a market capitalization of $430.18 billion, a PE ratio of 34.56, a P/E/G ratio of 2.62 and a beta of 0.53.

Johnson & Johnson (NYSE:JNJ – Get Rating) last released its quarterly earnings results on Tuesday, April 18th. The company reported $2.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.51 by $0.17. Johnson & Johnson had a return on equity of 35.53% and a net margin of 13.22%. The business had revenue of $24.75 billion during the quarter, compared to analyst estimates of $23.61 billion. During the same quarter in the previous year, the company posted $2.67 earnings per share. Johnson & Johnson’s revenue for the quarter was up 5.6% on a year-over-year basis. Analysts forecast that Johnson & Johnson will post 10.67 EPS for the current year.

Johnson & Johnson Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 6th. Stockholders of record on Tuesday, May 23rd will be paid a $1.19 dividend. This is a positive change from Johnson & Johnson’s previous quarterly dividend of $1.13. The ex-dividend date of this dividend is Monday, May 22nd. This represents a $4.76 dividend on an annualized basis and a dividend yield of 2.88%. Johnson & Johnson’s dividend payout ratio is 94.56%.

Insider Transactions at Johnson & Johnson

In other news, insider James D. Swanson sold 1,062 shares of the company’s stock in a transaction dated Monday, March 6th. The stock was sold at an average price of $154.66, for a total value of $164,248.92. Following the completion of 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 SEC, which is accessible through this hyperlink. Corporate insiders own 0.20% of the company’s stock.

Johnson & Johnson Company 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.