Ninety One North America Inc. Decreases Stake in Johnson & Johnson (NYSE:JNJ)

Ninety One North America Inc. reduced its position in Johnson & Johnson (NYSE:JNJ) by 16.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 363,893 shares of the company’s stock after selling 70,679 shares during the period. Johnson & Johnson makes up about 2.8% of Ninety One North America Inc.’s holdings, making the stock its 11th biggest holding. Ninety One North America Inc.’s holdings in Johnson & Johnson were worth $57,037,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Federated Hermes Inc. lifted its position in shares of Johnson & Johnson by 32.6% during the fourth quarter. Federated Hermes Inc. now owns 827,260 shares of the company’s stock worth $129,665,000 after purchasing an additional 203,378 shares during the last quarter. Peterson Wealth Services lifted its position in shares of Johnson & Johnson by 9.7% during the fourth quarter. Peterson Wealth Services now owns 25,773 shares of the company’s stock worth $4,040,000 after purchasing an additional 2,285 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt lifted its position in shares of Johnson & Johnson by 2.4% during the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 98,882 shares of the company’s stock worth $15,499,000 after purchasing an additional 2,345 shares during the last quarter. Daiwa Securities Group Inc. lifted its position in shares of Johnson & Johnson by 5.5% during the fourth quarter. Daiwa Securities Group Inc. now owns 297,850 shares of the company’s stock worth $46,685,000 after purchasing an additional 15,490 shares during the last quarter. Finally, River Road Asset Management LLC bought a new position in shares of Johnson & Johnson during the fourth quarter worth about $6,093,000. 69.55% of the stock is owned by hedge funds and other institutional investors.

Johnson & Johnson Price Performance

Shares of NYSE:JNJ opened at $149.56 on Wednesday. Johnson & Johnson has a 52 week low of $143.13 and a 52 week high of $175.97. The company has a current ratio of 1.16, a quick ratio of 0.91 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $360.41 billion, a P/E ratio of 9.32, a PEG ratio of 2.44 and a beta of 0.53. The firm’s 50 day moving average is $155.83 and its two-hundred day moving average is $155.51.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings data on Tuesday, April 16th. The company reported $2.71 EPS for the quarter, beating analysts’ consensus estimates of $2.64 by $0.07. Johnson & Johnson had a net margin of 45.26% and a return on equity of 36.43%. The business had revenue of $21.38 billion for the quarter, compared to analyst estimates of $21.39 billion. During the same quarter last year, the business earned $2.68 earnings per share. The business’s revenue for the quarter was up 2.3% on a year-over-year basis. Analysts anticipate that Johnson & Johnson will post 10.65 earnings per share for the current year.

Johnson & Johnson Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Investors of record on Tuesday, May 21st will be paid a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.32%. The ex-dividend date of this dividend is Monday, May 20th. This is a positive change from Johnson & Johnson’s previous quarterly dividend of $1.19. Johnson & Johnson’s dividend payout ratio (DPR) is currently 30.92%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Bank of America cut their target price on shares of Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating on the stock in a report on Wednesday, April 17th. Raymond James raised their target price on shares of Johnson & Johnson from $172.00 to $175.00 and gave the stock an “outperform” rating in a report on Wednesday, January 3rd. StockNews.com raised shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Tuesday, February 6th. Cantor Fitzgerald reissued an “overweight” rating and issued a $215.00 target price on shares of Johnson & Johnson in a report on Monday, April 15th. Finally, HSBC raised shares of Johnson & Johnson from a “hold” rating to a “buy” rating and raised their target price for the stock from $169.00 to $170.00 in a report on Thursday, April 18th. Seven investment 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 company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $175.86.

Insider Activity at Johnson & Johnson

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

Johnson & Johnson Profile

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.