Johnson & Johnson (NYSE:JNJ) is Columbia Asset Management’s 7th Largest Position

Columbia Asset Management raised its stake in Johnson & Johnson (NYSE:JNJ – Get Rating) by 1.5% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 57,358 shares of the company’s stock after buying an additional 832 shares during the quarter. Johnson & Johnson makes up approximately 2.5% of Columbia Asset Management’s portfolio, making the stock its 7th biggest holding. Columbia Asset Management’s holdings in Johnson & Johnson were worth $10,132,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in JNJ. Glassy Mountain Advisors Inc. purchased a new position in Johnson & Johnson in the fourth quarter valued at about $35,000. Retirement Financial Solutions LLC purchased a new position in Johnson & Johnson in the fourth quarter valued at about $40,000. TD Capital Management LLC purchased a new position in Johnson & Johnson in the third quarter valued at about $48,000. VitalStone Financial LLC acquired a new stake in shares of Johnson & Johnson in the fourth quarter valued at approximately $52,000. Finally, Iron Horse Wealth Management LLC grew its position in shares of Johnson & Johnson by 112.8% in the fourth quarter. Iron Horse Wealth Management LLC now owns 300 shares of the company’s stock valued at $53,000 after purchasing an additional 159 shares during the last quarter. 67.94% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Johnson & Johnson

In related news, insider James D. Swanson sold 1,062 shares of Johnson & Johnson 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 owns 9,215 shares in the company, valued at approximately $1,425,191.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.20% of the company’s stock.

Johnson & Johnson Stock Down 1.4 %

Shares of JNJ opened at $154.41 on Friday. The firm has a market cap of $401.27 billion, a PE ratio of 32.30, a price-to-earnings-growth ratio of 2.67 and a beta of 0.53. The company’s fifty day moving average is $159.89 and its two-hundred day moving average is $165.86. Johnson & Johnson has a fifty-two week low of $150.11 and a fifty-two week high of $183.35. 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 posted its earnings results on Tuesday, April 18th. The company reported $2.68 earnings per share for the quarter, beating the consensus estimate of $2.51 by $0.17. The business had revenue of $24.75 billion for the quarter, compared to analyst estimates of $23.61 billion. Johnson & Johnson had a net margin of 13.22% and a return on equity of 36.13%. The business’s quarterly revenue was up 5.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.67 EPS. Analysts forecast that Johnson & Johnson will post 10.66 earnings per share for the current year.

Johnson & Johnson Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 6th. Investors of record on Tuesday, May 23rd will be issued a dividend of $1.19 per share. This is a positive change from Johnson & Johnson’s previous quarterly dividend of $1.13. The ex-dividend date of this dividend is Monday, May 22nd. This represents a $4.76 annualized dividend and a dividend yield of 3.08%. Johnson & Johnson’s payout ratio is presently 99.58%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Morgan Stanley increased their price target on shares of Johnson & Johnson from $179.00 to $183.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 19th. Guggenheim assumed coverage on shares of Johnson & Johnson in a research report on Tuesday, February 28th. They issued a “neutral” rating and a $161.00 price target on the stock. StockNews.com started coverage on shares of Johnson & Johnson in a research report on Thursday, May 18th. They issued a “strong-buy” rating on the stock. UBS Group started coverage on shares of Johnson & Johnson in a research report on Tuesday, March 28th. They set a “neutral” rating and a $164.00 target price on the stock. Finally, Piper Sandler decreased their target price on shares of Johnson & Johnson from $55.00 to $52.00 in a research report on Monday, February 6th. Seven investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $173.00.

Johnson & Johnson 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.