Johnson & Johnson (NYSE:JNJ) Stock Holdings Lessened by Levin Capital Strategies L.P.

Levin Capital Strategies L.P. cut its stake in shares of Johnson & Johnson (NYSE:JNJ) by 0.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 213,020 shares of the company’s stock after selling 1,498 shares during the period. Johnson & Johnson makes up 3.6% of Levin Capital Strategies L.P.’s investment portfolio, making the stock its 3rd biggest holding. Levin Capital Strategies L.P.’s holdings in Johnson & Johnson were worth $33,389,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. International Assets Investment Management LLC increased its stake in shares of Johnson & Johnson by 7,875.8% during the fourth quarter. International Assets Investment Management LLC now owns 2,090,384 shares of the company’s stock worth $327,647,000 after acquiring an additional 2,064,175 shares during the period. LSV Asset Management increased its position in Johnson & Johnson by 89.9% during the 3rd quarter. LSV Asset Management now owns 2,251,770 shares of the company’s stock worth $350,713,000 after purchasing an additional 1,065,880 shares during the period. abrdn plc raised its stake in shares of Johnson & Johnson by 104.1% during the 4th quarter. abrdn plc now owns 2,014,743 shares of the company’s stock worth $315,791,000 after buying an additional 1,027,441 shares in the last quarter. Commerzbank Aktiengesellschaft FI lifted its holdings in shares of Johnson & Johnson by 2,264.8% in the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 822,725 shares of the company’s stock valued at $128,139,000 after buying an additional 787,934 shares during the period. Finally, Envestnet Asset Management Inc. boosted its stake in shares of Johnson & Johnson by 22.2% in the third quarter. Envestnet Asset Management Inc. now owns 3,957,429 shares of the company’s stock valued at $616,370,000 after buying an additional 719,472 shares in the last quarter. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. StockNews.com raised Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Tuesday, February 6th. Morgan Stanley decreased their price objective on shares of Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 17th. Bank of America dropped their target price on shares of Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating for the company in a report on Wednesday, April 17th. Royal Bank of Canada decreased their price target on Johnson & Johnson from $181.00 to $175.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 17th. Finally, HSBC raised Johnson & Johnson from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $169.00 to $170.00 in a report on Thursday, April 18th. Seven equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $175.86.

Insider Activity

In related news, major shareholder & Johnson Johnson sold 3,725 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $25.81, for a total value of $96,142.25. Following the sale, the insider now directly owns 4,099,575 shares of the company’s stock, valued at $105,810,030.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Johnson & Johnson news, major shareholder & Johnson Johnson sold 3,725 shares of the stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $25.81, for a total transaction of $96,142.25. Following the transaction, the insider now owns 4,099,575 shares of the company’s stock, valued at $105,810,030.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Jennifer L. Taubert sold 59,397 shares of the business’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $156.27, for a total transaction of $9,281,969.19. Following the sale, the executive vice president now directly owns 141,416 shares of the company’s stock, valued at $22,099,078.32. The disclosure for this sale can be found here. Corporate insiders own 0.16% of the company’s stock.

Johnson & Johnson Stock Performance

NYSE:JNJ opened at $148.72 on Wednesday. Johnson & Johnson has a 1-year low of $143.13 and a 1-year high of $175.97. The firm has a 50 day simple moving average of $153.70 and a 200-day simple moving average of $154.97. The firm has a market cap of $357.92 billion, a PE ratio of 9.27, a P/E/G ratio of 2.46 and a beta of 0.55. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.17 and a quick ratio of 0.94.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings results on Tuesday, April 16th. The company reported $2.71 earnings per share for the quarter, topping analysts’ consensus estimates of $2.64 by $0.07. Johnson & Johnson had a return on equity of 36.70% and a net margin of 45.26%. The company had revenue of $21.38 billion for the quarter, compared to analyst estimates of $21.39 billion. During the same quarter in the prior year, the company posted $2.68 EPS. The business’s revenue for the quarter was up 2.3% compared to the same quarter last year. On average, equities analysts expect that Johnson & Johnson will post 10.65 EPS for the current year.

Johnson & Johnson Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 4th. Shareholders of record on Tuesday, May 21st will be issued a $1.24 dividend. This is a boost from Johnson & Johnson’s previous quarterly dividend of $1.19. The ex-dividend date is Monday, May 20th. This represents a $4.96 annualized dividend and a yield of 3.34%. Johnson & Johnson’s payout ratio is 29.68%.

About Johnson & Johnson

Johnson & Johnson, together with its subsidiaries, researches, develops, manufactures, and sells various products in the healthcare field worldwide. The company's Innovative Medicine segment offers products for various therapeutic areas, such as immunology, including rheumatoid arthritis, psoriatic arthritis, inflammatory bowel disease, and psoriasis; infectious diseases comprising HIV/AIDS; neuroscience, consisting of mood disorders, neurodegenerative disorders, and schizophrenia; oncology, such as prostate cancer, hematologic malignancies, lung cancer, and bladder cancer; cardiovascular and metabolism, including thrombosis, diabetes, and macular degeneration; and pulmonary hypertension comprising pulmonary arterial hypertension through retailers, wholesalers, distributors, hospitals, and healthcare professionals for prescription use.