Nordea Investment Management AB Sells 1,139,073 Shares of Johnson & Johnson (NYSE:JNJ)

Posted by Defense World Staff on May 13th, 2023

Nordea Investment Management AB reduced its position in Johnson & Johnson (NYSE:JNJ – Get Rating) by 13.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,152,586 shares of the company’s stock after selling 1,139,073 shares during the quarter. Johnson & Johnson comprises approximately 2.0% of Nordea Investment Management AB’s portfolio, making the stock its 4th biggest position. Nordea Investment Management AB owned approximately 0.27% of Johnson & Johnson worth $1,264,148,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the business. Glassy Mountain Advisors Inc. acquired a new stake in shares of Johnson & Johnson during the fourth quarter worth about $35,000. Retirement Financial Solutions LLC purchased a new stake in Johnson & Johnson during the 4th quarter valued at approximately $40,000. TD Capital Management LLC purchased a new position in shares of Johnson & Johnson in the 3rd quarter valued at approximately $48,000. VitalStone Financial LLC acquired a new position in shares of Johnson & Johnson in the fourth quarter valued at approximately $52,000. Finally, Iron Horse Wealth Management LLC raised its stake in shares of Johnson & Johnson by 112.8% during the fourth quarter. Iron Horse Wealth Management LLC now owns 300 shares of the company’s stock worth $53,000 after purchasing an additional 159 shares during the last quarter. 67.94% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

JNJ has been the topic of several recent research reports. Morgan Stanley boosted their price objective on shares of Johnson & Johnson from $179.00 to $183.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 19th. Credit Suisse Group boosted their target price on Johnson & Johnson from $168.00 to $170.00 in a research report on Friday, May 5th. Piper Sandler reduced their price target on Johnson & Johnson from $55.00 to $52.00 in a report on Monday, February 6th. SVB Leerink cut their price objective on Johnson & Johnson from $194.00 to $186.00 and set an “outperform” rating for the company in a research report on Friday, January 20th. Finally, Atlantic Securities decreased their target price on shares of Johnson & Johnson from $168.00 to $167.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 19th. Seven research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Johnson & Johnson has an average rating of “Moderate Buy” and a consensus price target of $173.00.

Insider Activity

In related news, insider James D. Swanson sold 1,062 shares of the stock in a transaction dated Monday, March 6th. The stock was 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 in the company, valued at $1,425,191.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.20% of the company’s stock.

Johnson & Johnson Stock Down 0.1 %

JNJ opened at $160.78 on Friday. The business’s fifty day simple moving average is $159.10 and its 200 day simple moving average is $166.76. Johnson & Johnson has a 52 week low of $150.11 and a 52 week high of $183.35. The firm has a market cap of $417.82 billion, a P/E ratio of 33.64, a PEG ratio of 2.77 and a beta of 0.53. The company has a quick ratio of 0.85, a current ratio of 1.07 and a debt-to-equity ratio of 0.49.

Johnson & Johnson (NYSE:JNJ – Get Rating) last issued its quarterly earnings results on Tuesday, April 18th. The company reported $2.68 EPS for the quarter, topping analysts’ consensus estimates of $2.51 by $0.17. The business had revenue of $24.75 billion during 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 36.13%. The company’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.67 earnings per share. As a group, equities research analysts anticipate that Johnson & Johnson will post 10.66 EPS 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. Stockholders of record on Tuesday, May 23rd will be issued a dividend of $1.19 per share. This is a boost from Johnson & Johnson’s previous quarterly dividend of $1.13. The ex-dividend date is Monday, May 22nd. This represents a $4.76 annualized dividend and a dividend yield of 2.96%. Johnson & Johnson’s dividend payout ratio (DPR) is 94.56%.

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.