Sawgrass Asset Management LLC reduced its position in Johnson & Johnson (NYSE:JNJ – Get Rating) by 2.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 87,240 shares of the company’s stock after selling 2,050 shares during the quarter. Johnson & Johnson accounts for about 2.1% of Sawgrass Asset Management LLC’s holdings, making the stock its 13th largest holding. Sawgrass Asset Management LLC’s holdings in Johnson & Johnson were worth $15,411,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Veracity Capital LLC grew its holdings in shares of Johnson & Johnson by 1.2% in the fourth 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 period. Sandy Cove Advisors LLC grew its holdings in shares of Johnson & Johnson by 1.6% in the third 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 period. LCM Capital Management Inc grew its holdings in shares of Johnson & Johnson by 0.7% in the fourth 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 period. Arbor Investment Advisors LLC grew its holdings in shares of Johnson & Johnson by 2.3% in the fourth 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 period. Finally, Sierra Capital LLC grew its holdings in shares of Johnson & Johnson by 0.6% in the fourth quarter. Sierra Capital LLC now owns 10,036 shares of the company’s stock worth $1,773,000 after acquiring an additional 61 shares during the period. 67.94% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity
In other news, insider James D. Swanson sold 1,062 shares of the stock in a transaction on Monday, March 6th. The stock was sold at an average price of $154.66, for a total transaction of $164,248.92. Following the completion of the sale, the insider now owns 9,215 shares in the company, valued at approximately $1,425,191.90. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.20% of the company’s stock.
Johnson & Johnson Stock Up 0.3 %
Johnson & Johnson (NYSE:JNJ – Get Rating) last announced its quarterly earnings data on Tuesday, April 18th. The company reported $2.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.51 by $0.17. Johnson & Johnson had a return on equity of 36.13% and a net margin of 13.22%. The company had revenue of $24.75 billion for the quarter, compared to analysts’ expectations of $23.61 billion. During the same quarter in the prior year, the firm earned $2.67 earnings per share. Johnson & Johnson’s revenue was up 5.6% compared to the same quarter last year. Sell-side analysts predict that Johnson & Johnson will post 10.66 EPS for the current year.
Johnson & Johnson Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 6th. Shareholders of record on Tuesday, May 23rd will be issued a dividend of $1.19 per share. The ex-dividend date of this dividend is Monday, May 22nd. This represents a $4.76 dividend on an annualized basis and a yield of 3.00%. This is a positive change from Johnson & Johnson’s previous quarterly dividend of $1.13. Johnson & Johnson’s dividend payout ratio is currently 94.56%.
Analyst Upgrades and Downgrades
Several analysts have issued reports on JNJ shares. Piper Sandler cut their price target on Johnson & Johnson from $55.00 to $52.00 in a report on Monday, February 6th. Morgan Stanley boosted their target price on Johnson & Johnson from $179.00 to $183.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 19th. Raymond James decreased their target price on Johnson & Johnson from $185.00 to $181.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 19th. Guggenheim started coverage on Johnson & Johnson in a research report on Tuesday, February 28th. They issued a “neutral” rating and a $161.00 target price on the stock. Finally, Credit Suisse Group boosted their target price on Johnson & Johnson from $168.00 to $170.00 in a research report on Friday, May 5th. Seven investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $173.00.
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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