Spinnaker Trust Has $6.53 Million Position in Johnson & Johnson (NYSE:JNJ)

Spinnaker Trust cut its holdings in Johnson & Johnson (NYSE:JNJ) by 5.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 41,685 shares of the company’s stock after selling 2,236 shares during the quarter. Spinnaker Trust’s holdings in Johnson & Johnson were worth $6,534,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on JNJ. Morgan Stanley decreased their price objective on Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating for the company in a report on Wednesday, April 17th. Bank of America lowered their price target on Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 17th. Cantor Fitzgerald reissued an “overweight” rating and issued a $215.00 price objective on shares of Johnson & Johnson in a report on Monday, April 15th. Royal Bank of Canada lowered their target price 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. Finally, StockNews.com upgraded shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, February 6th. Seven equities research 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. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $175.86.

Johnson & Johnson Trading Up 4.5 %

Shares of NYSE:JNJ opened at $151.16 on Thursday. The company has a quick ratio of 0.91, a current ratio of 1.16 and a debt-to-equity ratio of 0.38. The business has a 50 day moving average of $154.65 and a 200-day moving average of $155.11. Johnson & Johnson has a 12-month low of $143.13 and a 12-month high of $175.97. The stock has a market cap of $364.26 billion, a PE ratio of 9.42, a P/E/G ratio of 2.42 and a beta of 0.53.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings results on Tuesday, April 16th. The company reported $2.71 earnings per share (EPS) for the quarter, topping the consensus estimate 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 posted $2.68 EPS. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. As a group, equities research analysts forecast 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 given a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a yield of 3.28%. This is a boost from Johnson & Johnson’s previous quarterly dividend of $1.19. The ex-dividend date is Monday, May 20th. Johnson & Johnson’s dividend payout ratio is currently 29.68%.

Insider Activity at Johnson & Johnson

In other news, EVP Jennifer L. Taubert sold 59,397 shares of the company’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 completion of the transaction, the executive vice president now directly owns 141,416 shares in the company, valued at $22,099,078.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related 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 transaction of $96,142.25. Following the sale, the insider now directly owns 4,099,575 shares in the company, valued at approximately $105,810,030.75. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Jennifer L. Taubert sold 59,397 shares of the firm’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 transaction, the executive vice president now directly owns 141,416 shares of the company’s stock, valued at approximately $22,099,078.32. The disclosure for this sale can be found here. 0.16% of the stock is owned by insiders.

Johnson & Johnson Company 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.