Stoneridge Investment Partners LLC boosted its position in shares of Johnson & Johnson (NYSE:JNJ – Get Rating) by 14.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 38,737 shares of the company’s stock after buying an additional 5,006 shares during the quarter. Johnson & Johnson makes up 3.8% of Stoneridge Investment Partners LLC’s holdings, making the stock its 5th biggest position. Stoneridge Investment Partners LLC’s holdings in Johnson & Johnson were worth $6,843,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in Johnson & Johnson by 1.2% during the third 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 during the period. State Street Corp grew its position in shares of Johnson & Johnson by 0.6% in the third quarter. State Street Corp now owns 141,886,311 shares of the company’s stock valued at $23,178,548,000 after purchasing an additional 803,013 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of 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 purchasing an additional 805,831 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of 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 purchasing an additional 328,297 shares during the period. Finally, California Public Employees Retirement System grew its position in shares of Johnson & Johnson by 2.7% in the third quarter. California Public Employees Retirement System now owns 11,751,504 shares of the company’s stock valued at $1,919,726,000 after purchasing an additional 310,473 shares during the period. Institutional investors and hedge funds own 67.94% of the company’s stock.
Johnson & Johnson Price Performance
Johnson & Johnson stock opened at $162.87 on Thursday. The company’s 50 day simple moving average is $158.10 and its 200-day simple moving average is $167.02. The company has a market capitalization of $424.16 billion, a price-to-earnings ratio of 34.07, a price-to-earnings-growth ratio of 2.78 and a beta of 0.53. Johnson & Johnson has a 1 year low of $150.11 and a 1 year high of $183.35. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.77 and a current ratio of 0.99.
Johnson & Johnson Increases Dividend
The business also recently declared 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 represents a $4.76 dividend on an annualized basis and a dividend yield of 2.92%. This is an increase from Johnson & Johnson’s previous quarterly dividend of $1.13. The ex-dividend date of this dividend is Monday, May 22nd. Johnson & Johnson’s payout ratio is 94.56%.
Wall Street Analysts Forecast Growth
Several brokerages have recently issued reports on JNJ. SVB Leerink dropped their target price on shares of Johnson & Johnson from $194.00 to $186.00 and set an “outperform” rating on the stock in a research report on Friday, January 20th. Piper Sandler decreased their price target on shares of Johnson & Johnson from $55.00 to $52.00 in a research note on Monday, February 6th. Cantor Fitzgerald reissued an “overweight” rating and issued a $215.00 price target on shares of Johnson & Johnson in a research note on Wednesday, February 1st. Raymond James decreased their price target on shares of Johnson & Johnson from $185.00 to $181.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 19th. Finally, Morgan Stanley raised their price target on shares of Johnson & Johnson from $179.00 to $183.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 19th. Seven analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $173.00.
Insider Activity at Johnson & Johnson
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 shares were 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 in the company, valued at $1,425,191.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.20% of the company’s stock.
About Johnson & Johnson
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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