Allspring Global Investments Holdings LLC Grows Holdings in Johnson & Johnson $JNJ

Allspring Global Investments Holdings LLC grew its holdings in Johnson & Johnson (NYSE:JNJ) by 42.6% during the second quarter, HoldingsChannel.com reports. The firm owned 623,585 shares of the company’s stock after acquiring an additional 186,198 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Johnson & Johnson were worth $97,229,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Johnson & Johnson by 0.5% during the first quarter. Vanguard Group Inc. now owns 233,962,679 shares of the company’s stock valued at $38,800,371,000 after buying an additional 1,170,120 shares during the period. Northern Trust Corp increased its stake in shares of Johnson & Johnson by 0.4% during the first quarter. Northern Trust Corp now owns 30,943,820 shares of the company’s stock valued at $5,131,723,000 after buying an additional 130,645 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Johnson & Johnson by 26.4% during the first quarter. Bank of New York Mellon Corp now owns 23,182,464 shares of the company’s stock valued at $3,844,580,000 after buying an additional 4,842,582 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Johnson & Johnson by 3.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 18,899,263 shares of the company’s stock valued at $3,133,602,000 after buying an additional 712,181 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its stake in shares of Johnson & Johnson by 2.5% during the first quarter. Massachusetts Financial Services Co. MA now owns 18,282,410 shares of the company’s stock valued at $3,031,955,000 after buying an additional 448,666 shares during the period. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Bank of America raised their price target on Johnson & Johnson from $175.00 to $198.00 and gave the company a “neutral” rating in a research note on Friday, October 3rd. Wall Street Zen upgraded Johnson & Johnson from a “hold” rating to a “buy” rating in a research note on Saturday, September 13th. Citigroup raised their price objective on Johnson & Johnson from $200.00 to $213.00 and gave the company a “buy” rating in a research report on Tuesday, October 7th. Morgan Stanley raised their price objective on Johnson & Johnson from $176.00 to $178.00 and gave the company an “equal weight” rating in a research report on Friday, October 10th. Finally, Erste Group Bank raised Johnson & Johnson from a “hold” rating to a “buy” rating in a research report on Wednesday, July 23rd. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $193.88.

Insiders Place Their Bets

In other Johnson & Johnson news, EVP Jennifer L. Taubert sold 56,471 shares of the firm’s stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $177.81, for a total transaction of $10,041,108.51. Following the completion of the transaction, the executive vice president directly owned 178,013 shares of the company’s stock, valued at approximately $31,652,491.53. This trade represents a 24.08% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.16% of the company’s stock.

Johnson & Johnson Price Performance

Shares of NYSE JNJ opened at $190.88 on Wednesday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.76 and a current ratio of 1.01. The company has a market cap of $459.70 billion, a PE ratio of 20.41, a P/E/G ratio of 2.40 and a beta of 0.40. The business has a 50-day simple moving average of $179.28 and a two-hundred day simple moving average of $164.16. Johnson & Johnson has a fifty-two week low of $140.68 and a fifty-two week high of $194.40.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings results on Wednesday, August 30th. The company reported $2.26 earnings per share for the quarter. The business had revenue of $24.02 billion during the quarter. Johnson & Johnson had a return on equity of 32.49% and a net margin of 25.00%. As a group, equities analysts expect that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 9th. Shareholders of record on Tuesday, November 25th will be issued a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend is Tuesday, November 25th. Johnson & Johnson’s dividend payout ratio (DPR) is currently 55.61%.

About Johnson & Johnson

Johnson & Johnson is a holding company, which engages in the research, development, manufacture, and sale of products in the healthcare field. It operates through the Innovative Medicine and MedTech segments. The Innovative Medicine segment focuses on immunology, infectious diseases, neuroscience, oncology, cardiovascular and metabolism, and pulmonary hypertension.