Corebridge Financial Inc. Sells 26,421 Shares of Johnson & Johnson (NYSE:JNJ)

Corebridge Financial Inc. decreased its position in shares of Johnson & Johnson (NYSE:JNJ) by 4.6% in the 4th quarter, Holdings Channel reports. The fund owned 553,347 shares of the company’s stock after selling 26,421 shares during the quarter. Johnson & Johnson accounts for approximately 0.4% of Corebridge Financial Inc.’s holdings, making the stock its 23rd largest position. Corebridge Financial Inc.’s holdings in Johnson & Johnson were worth $80,025,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in JNJ. MRP Capital Investments LLC boosted its stake in Johnson & Johnson by 4.1% in the fourth quarter. MRP Capital Investments LLC now owns 1,640 shares of the company’s stock worth $237,000 after buying an additional 65 shares in the last quarter. Werba Rubin Papier Wealth Management lifted its holdings in shares of Johnson & Johnson by 3.3% in the 4th quarter. Werba Rubin Papier Wealth Management now owns 2,080 shares of the company’s stock worth $301,000 after acquiring an additional 66 shares during the last quarter. Denali Advisors LLC grew its holdings in shares of Johnson & Johnson by 1.3% during the 4th quarter. Denali Advisors LLC now owns 5,128 shares of the company’s stock valued at $742,000 after purchasing an additional 67 shares during the last quarter. Sage Mountain Advisors LLC raised its position in Johnson & Johnson by 0.5% in the 4th quarter. Sage Mountain Advisors LLC now owns 14,564 shares of the company’s stock worth $2,106,000 after purchasing an additional 67 shares during the period. Finally, Corepath Wealth Partners LLC lifted its stake in Johnson & Johnson by 3.7% in the fourth quarter. Corepath Wealth Partners LLC now owns 1,985 shares of the company’s stock worth $287,000 after purchasing an additional 70 shares during the last quarter. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Timothy Schmid sold 403 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $156.15, for a total value of $62,928.45. Following the sale, the executive vice president now directly owns 15,098 shares of the company’s stock, valued at $2,357,552.70. The trade was a 2.60 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Robert J. Decker sold 6,999 shares of the firm’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $165.88, for a total value of $1,160,994.12. Following the transaction, the vice president now directly owns 21,001 shares of the company’s stock, valued at approximately $3,483,645.88. This trade represents a 25.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.16% of the company’s stock.

Wall Street Analysts Forecast Growth

JNJ has been the topic of several analyst reports. Guggenheim reiterated a “neutral” rating on shares of Johnson & Johnson in a report on Monday, March 10th. Argus raised Johnson & Johnson to a “strong-buy” rating in a research note on Friday, January 24th. Barclays boosted their price objective on Johnson & Johnson from $159.00 to $166.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 28th. Stifel Nicolaus decreased their target price on shares of Johnson & Johnson from $170.00 to $155.00 and set a “hold” rating on the stock in a research note on Thursday, January 23rd. Finally, Leerink Partners dropped their price target on shares of Johnson & Johnson from $182.00 to $169.00 and set an “outperform” rating for the company in a research report on Thursday, January 23rd. Nine research analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $171.33.

Johnson & Johnson Stock Up 0.2 %

JNJ stock opened at $163.40 on Monday. Johnson & Johnson has a fifty-two week low of $140.68 and a fifty-two week high of $169.99. The company has a market capitalization of $393.76 billion, a price-to-earnings ratio of 24.57, a price-to-earnings-growth ratio of 2.56 and a beta of 0.47. The business’s 50 day moving average price is $156.99 and its two-hundred day moving average price is $156.17. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.86 and a current ratio of 1.11.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings results on Wednesday, January 22nd. The company reported $2.04 earnings per share for the quarter, topping the consensus estimate of $1.99 by $0.05. The company had revenue of $22.52 billion for the quarter, compared to analysts’ expectations of $22.44 billion. Johnson & Johnson had a return on equity of 34.24% and a net margin of 18.20%. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period in the prior year, the firm earned $2.29 earnings per share. As a group, analysts forecast that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th were paid a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a yield of 3.04%. The ex-dividend date was Tuesday, February 18th. Johnson & Johnson’s payout ratio is currently 74.59%.

Johnson & Johnson Profile

Johnson & Johnson is a holding company, which engages in the research, development, manufacture, and sale of products in the healthcare field. It operates through the Innovative Medicine and MedTech segments. The Innovative Medicine segment focuses on immunology, infectious diseases, neuroscience, oncology, cardiovascular and metabolism, and pulmonary hypertension.