Overbrook Management Corp Sells 5,978 Shares of Johnson & Johnson (NYSE:JNJ)

Overbrook Management Corp trimmed its stake in Johnson & Johnson (NYSE:JNJ) by 20.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 22,629 shares of the company’s stock after selling 5,978 shares during the quarter. Johnson & Johnson comprises about 0.7% of Overbrook Management Corp’s holdings, making the stock its 28th biggest position. Overbrook Management Corp’s holdings in Johnson & Johnson were worth $3,547,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of JNJ. International Assets Investment Management LLC grew its holdings in Johnson & Johnson by 7,875.8% in the fourth quarter. International Assets Investment Management LLC now owns 2,090,384 shares of the company’s stock worth $327,647,000 after purchasing an additional 2,064,175 shares during the period. LSV Asset Management grew its holdings in shares of Johnson & Johnson by 89.9% during the third quarter. LSV Asset Management now owns 2,251,770 shares of the company’s stock valued at $350,713,000 after buying an additional 1,065,880 shares during the last quarter. abrdn plc grew its holdings in shares of Johnson & Johnson by 104.1% during the fourth quarter. abrdn plc now owns 2,014,743 shares of the company’s stock valued at $315,791,000 after buying an additional 1,027,441 shares during the last quarter. Commerzbank Aktiengesellschaft FI grew its holdings in shares of Johnson & Johnson by 2,264.8% during the third 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 last quarter. Finally, Envestnet Asset Management Inc. grew its holdings in shares of Johnson & Johnson by 22.2% during 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 during the last quarter. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Johnson & Johnson Stock Performance

Shares of JNJ stock opened at $144.61 on Wednesday. The firm has a market cap of $348.48 billion, a price-to-earnings ratio of 9.02, a P/E/G ratio of 2.42 and a beta of 0.53. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.91 and a current ratio of 1.16. Johnson & Johnson has a 52 week low of $143.13 and a 52 week high of $175.97. The firm’s 50-day simple moving average is $154.80 and its two-hundred day simple moving average is $155.14.

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

Johnson & Johnson Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 21st will be given a $1.24 dividend. The ex-dividend date of this dividend is Monday, May 20th. This represents a $4.96 annualized dividend and a dividend yield of 3.43%. This is a positive change from Johnson & Johnson’s previous quarterly dividend of $1.19. Johnson & Johnson’s payout ratio is 29.68%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on JNJ. Bank of America reduced their price objective 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. Morgan Stanley reduced their price objective on shares of Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating for the company in a report on Wednesday, April 17th. Raymond James lifted their price objective on shares of Johnson & Johnson from $172.00 to $175.00 and gave the company an “outperform” rating in a report on Wednesday, January 3rd. StockNews.com upgraded shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Tuesday, February 6th. Finally, Royal Bank of Canada cut their price target on shares of Johnson & Johnson from $181.00 to $175.00 and set an “outperform” rating on the stock in a report on Wednesday, April 17th. Seven analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $175.86.

Insider Activity

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