Johnson & Johnson (NYSE:JNJ) Shares Purchased by Massmutual Trust Co. FSB ADV

Massmutual Trust Co. FSB ADV boosted its holdings in Johnson & Johnson (NYSE:JNJ) by 3.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 236,484 shares of the company’s stock after buying an additional 8,239 shares during the period. Johnson & Johnson accounts for approximately 1.2% of Massmutual Trust Co. FSB ADV’s holdings, making the stock its 18th largest holding. Massmutual Trust Co. FSB ADV’s holdings in Johnson & Johnson were worth $37,409,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in Johnson & Johnson during the fourth quarter worth about $4,071,642,000. Wellington Management Group LLP grew its holdings in shares of Johnson & Johnson by 16.4% during the 4th quarter. Wellington Management Group LLP now owns 24,019,725 shares of the company’s stock worth $3,764,852,000 after purchasing an additional 3,391,657 shares during the period. International Assets Investment Management LLC increased its position in Johnson & Johnson by 7,875.8% during the 4th 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 in the last quarter. Janney Montgomery Scott LLC purchased a new position in Johnson & Johnson in the fourth quarter valued at approximately $193,050,000. Finally, abrdn plc lifted its position in 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 in the last quarter. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Wall Street Analysts Forecast Growth

JNJ has been the topic of several research reports. HSBC raised Johnson & Johnson from a “hold” rating to a “buy” rating and raised their price objective for the company from $169.00 to $170.00 in a research report on Thursday, April 18th. The Goldman Sachs Group initiated coverage on Johnson & Johnson in a report on Thursday, May 30th. They issued a “neutral” rating and a $160.00 price target for the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $215.00 price objective on shares of Johnson & Johnson in a research note on Thursday. Morgan Stanley reduced their target price on shares of Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 17th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $175.00 price target on shares of Johnson & Johnson in a research note on Monday. Eight research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $174.07.

Johnson & Johnson Stock Up 1.5 %

Shares of Johnson & Johnson stock opened at $147.77 on Friday. The company has a quick ratio of 0.94, a current ratio of 1.17 and a debt-to-equity ratio of 0.36. The business has a 50-day moving average price of $148.02 and a 200 day moving average price of $154.45. Johnson & Johnson has a fifty-two week low of $143.13 and a fifty-two week high of $175.97. The firm has a market cap of $355.64 billion, a P/E ratio of 9.21, a P/E/G ratio of 2.42 and a beta of 0.53.

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, beating analysts’ consensus estimates of $2.64 by $0.07. The business had revenue of $21.38 billion during the quarter, compared to the consensus estimate of $21.39 billion. Johnson & Johnson had a return on equity of 36.70% and a net margin of 45.26%. The business’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period in the previous year, the business earned $2.68 EPS. On average, sell-side analysts forecast that Johnson & Johnson will post 10.63 earnings per share for the current fiscal year.

Johnson & Johnson Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 4th. Shareholders of record on Tuesday, May 21st were paid a dividend of $1.24 per share. The ex-dividend date of this dividend was Monday, May 20th. This is a positive change from Johnson & Johnson’s previous quarterly dividend of $1.19. This represents a $4.96 dividend on an annualized basis and a yield of 3.36%. Johnson & Johnson’s dividend payout ratio is currently 30.92%.

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.