Meridian Investment Counsel Inc. grew its position in Johnson & Johnson (NYSE:JNJ – Get Rating) by 1.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 28,151 shares of the company’s stock after acquiring an additional 420 shares during the period. Johnson & Johnson comprises approximately 2.0% of Meridian Investment Counsel Inc.’s investment portfolio, making the stock its 7th biggest position. Meridian Investment Counsel Inc.’s holdings in Johnson & Johnson were worth $4,973,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. Veracity Capital LLC lifted its holdings in shares of Johnson & Johnson by 1.2% in the 4th quarter. Veracity Capital LLC now owns 5,027 shares of the company’s stock worth $888,000 after acquiring an additional 59 shares during the last quarter. Sandy Cove Advisors LLC lifted its holdings in shares of Johnson & Johnson by 1.6% in the 3rd quarter. Sandy Cove Advisors LLC now owns 3,703 shares of the company’s stock worth $605,000 after acquiring an additional 60 shares during the last quarter. LCM Capital Management Inc lifted its holdings in shares of Johnson & Johnson by 0.7% in the 4th quarter. LCM Capital Management Inc now owns 9,437 shares of the company’s stock worth $1,667,000 after acquiring an additional 61 shares during the last quarter. Arbor Investment Advisors LLC lifted its holdings in shares of Johnson & Johnson by 2.3% in the 4th quarter. Arbor Investment Advisors LLC now owns 2,697 shares of the company’s stock worth $476,000 after acquiring an additional 61 shares during the last quarter. Finally, Magnolia Capital Advisors LLC lifted its holdings in shares of Johnson & Johnson by 0.7% in the 3rd quarter. Magnolia Capital Advisors LLC now owns 8,883 shares of the company’s stock worth $1,451,000 after acquiring an additional 62 shares during the last quarter. Institutional investors and hedge funds own 67.94% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities research analysts have issued reports on the stock. SVB Leerink reduced their target price on shares of Johnson & Johnson from $194.00 to $186.00 and set an “outperform” rating on the stock in a report on Friday, January 20th. Piper Sandler reduced their target price on shares of Johnson & Johnson from $55.00 to $52.00 in a report on Monday, February 6th. Raymond James reduced their target price on shares of Johnson & Johnson from $185.00 to $181.00 and set an “outperform” rating on the stock in a report on Wednesday, April 19th. Cantor Fitzgerald reiterated an “overweight” rating and set a $215.00 target price on shares of Johnson & Johnson in a report on Wednesday, February 1st. Finally, Guggenheim initiated coverage on shares of Johnson & Johnson in a report on Tuesday, February 28th. They issued a “neutral” rating and a $161.00 price objective on the stock. Seven analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Johnson & Johnson currently has an average rating of “Moderate Buy” and an average price target of $173.00.
Johnson & Johnson Trading Down 1.3 %
Johnson & Johnson (NYSE:JNJ – Get Rating) last posted its earnings results on Tuesday, April 18th. The company reported $2.68 EPS for the quarter, beating analysts’ consensus estimates of $2.51 by $0.17. The firm had revenue of $24.75 billion for the quarter, compared to the consensus estimate of $23.61 billion. Johnson & Johnson had a net margin of 13.22% and a return on equity of 35.53%. The company’s revenue was up 5.6% on a year-over-year basis. During the same period last year, the firm posted $2.67 EPS. On average, sell-side analysts expect that Johnson & Johnson will post 10.66 earnings per share for the current fiscal year.
Johnson & Johnson Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 6th. Shareholders of record on Tuesday, May 23rd will be given a dividend of $1.19 per share. This is an increase from Johnson & Johnson’s previous quarterly dividend of $1.13. This represents a $4.76 annualized dividend and a yield of 2.92%. The ex-dividend date is Monday, May 22nd. Johnson & Johnson’s dividend payout ratio (DPR) is presently 94.56%.
Insiders Place Their Bets
In other Johnson & Johnson 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 transaction of $164,248.92. Following the transaction, the insider now directly owns 9,215 shares of the company’s stock, valued at approximately $1,425,191.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.20% of the stock is currently owned by insiders.
Johnson & Johnson Profile
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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