Pzena Investment Management LLC Lowers Stake in Johnson & Johnson (NYSE:JNJ)

Pzena Investment Management LLC reduced its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 63.9% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 230,253 shares of the company’s stock after selling 407,409 shares during the period. Pzena Investment Management LLC’s holdings in Johnson & Johnson were worth $36,424,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Pathway Financial Advisors LLC boosted its holdings in shares of Johnson & Johnson by 4.3% in the fourth quarter. Pathway Financial Advisors LLC now owns 5,438 shares of the company’s stock valued at $852,000 after acquiring an additional 226 shares in the last quarter. Daiwa Securities Group Inc. raised its position in shares of Johnson & Johnson by 5.5% in the fourth quarter. Daiwa Securities Group Inc. now owns 297,850 shares of the company’s stock valued at $46,685,000 after buying an additional 15,490 shares during the last quarter. OneAscent Financial Services LLC raised its position in shares of Johnson & Johnson by 82.8% in the fourth quarter. OneAscent Financial Services LLC now owns 9,838 shares of the company’s stock valued at $1,542,000 after buying an additional 4,457 shares during the last quarter. Drive Wealth Management LLC raised its position in shares of Johnson & Johnson by 4.5% in the first quarter. Drive Wealth Management LLC now owns 9,625 shares of the company’s stock valued at $1,523,000 after buying an additional 414 shares during the last quarter. Finally, Vestmark Advisory Solutions Inc. raised its position in shares of Johnson & Johnson by 12.7% in the fourth quarter. Vestmark Advisory Solutions Inc. now owns 19,587 shares of the company’s stock valued at $3,070,000 after buying an additional 2,201 shares during the last quarter. 69.55% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

JNJ has been the subject of several research analyst reports. HSBC raised shares of Johnson & Johnson from a “hold” rating to a “buy” rating and upped their price target for the stock from $169.00 to $170.00 in a research report on Thursday, April 18th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $215.00 price target on shares of Johnson & Johnson in a research report on Monday, July 1st. StockNews.com raised shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Sunday, June 30th. The Goldman Sachs Group initiated coverage on shares of Johnson & Johnson in a research report on Thursday, May 30th. They set a “neutral” rating and a $160.00 price target for the company. Finally, Bank of America dropped their price target on shares of Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating for the company in a research report on Wednesday, April 17th. Eight research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Johnson & Johnson has a consensus rating of “Moderate Buy” and an average target price of $174.07.

Johnson & Johnson Price Performance

Shares of JNJ stock opened at $149.69 on Friday. The company has a market capitalization of $360.26 billion, a PE ratio of 9.33, a price-to-earnings-growth ratio of 2.49 and a beta of 0.52. The firm has a fifty day simple moving average of $147.92 and a 200-day simple moving average of $153.54. The company has a current ratio of 1.17, a quick ratio of 0.94 and a debt-to-equity ratio of 0.36. Johnson & Johnson has a twelve month low of $143.13 and a twelve month high of $175.97.

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, beating the consensus estimate of $2.64 by $0.07. The firm had revenue of $21.38 billion for the quarter, compared to analysts’ expectations of $21.39 billion. Johnson & Johnson had a net margin of 45.26% and a return on equity of 36.70%. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period in the prior year, the company posted $2.68 earnings per share. Equities research analysts anticipate that Johnson & Johnson will post 10.62 earnings per share for the current fiscal year.

Johnson & Johnson Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 4th. Shareholders of record on Tuesday, May 21st were issued a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.31%. This is a boost from Johnson & Johnson’s previous quarterly dividend of $1.19. The ex-dividend date was Monday, May 20th. Johnson & Johnson’s dividend payout ratio is 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.