Johnson & Johnson (NYSE:JNJ) Shares Bought by Abbot Financial Management Inc.

Abbot Financial Management Inc. raised its stake in Johnson & Johnson (NYSE:JNJ) by 1.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,570 shares of the company’s stock after purchasing an additional 261 shares during the period. Johnson & Johnson comprises 1.7% of Abbot Financial Management Inc.’s investment portfolio, making the stock its 15th biggest position. Abbot Financial Management Inc.’s holdings in Johnson & Johnson were worth $2,754,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Johnson & Johnson during the 4th quarter worth about $4,071,642,000. International Assets Investment Management LLC increased its position in Johnson & Johnson by 7,875.8% during the fourth quarter. International Assets Investment Management LLC now owns 2,090,384 shares of the company’s stock worth $327,647,000 after buying an additional 2,064,175 shares during the period. Janney Montgomery Scott LLC acquired a new position in Johnson & Johnson during the fourth quarter worth approximately $193,050,000. LSV Asset Management increased its position in Johnson & Johnson by 89.9% during the third quarter. LSV Asset Management now owns 2,251,770 shares of the company’s stock worth $350,713,000 after buying an additional 1,065,880 shares during the period. Finally, abrdn plc increased 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 worth $315,791,000 after buying an additional 1,027,441 shares during the period. Institutional investors and hedge funds own 69.55% of the company’s stock.

Johnson & Johnson Price Performance

Shares of NYSE JNJ traded down $1.52 during trading on Thursday, reaching $151.98. The company had a trading volume of 1,067,285 shares, compared to its average volume of 7,289,818. The stock has a 50-day moving average price of $151.73 and a two-hundred day moving average price of $155.11. Johnson & Johnson has a twelve month low of $143.13 and a twelve month high of $175.97. The stock has a market capitalization of $365.77 billion, a PE ratio of 9.57, a price-to-earnings-growth ratio of 2.51 and a beta of 0.55. 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 (NYSE:JNJ) last released its quarterly earnings data on Tuesday, April 16th. The company reported $2.71 EPS for the quarter, topping analysts’ consensus estimates of $2.64 by $0.07. The company had revenue of $21.38 billion for 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 company’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period last year, the business posted $2.68 EPS. As a group, sell-side analysts predict that Johnson & Johnson will post 10.64 earnings per share for the current year.

Johnson & Johnson Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 21st will be paid a $1.24 dividend. The ex-dividend date is Monday, May 20th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.26%. This is a positive change from Johnson & Johnson’s previous quarterly dividend of $1.19. Johnson & Johnson’s dividend payout ratio (DPR) is 30.92%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on JNJ shares. StockNews.com upgraded Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, February 6th. Morgan Stanley lowered their target price on Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 17th. Bank of America lowered their target price on Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 17th. Cantor Fitzgerald restated an “overweight” rating and issued a $215.00 price target on shares of Johnson & Johnson in a research note on Monday, May 6th. Finally, HSBC upgraded Johnson & Johnson from a “hold” rating to a “buy” rating and lifted their price target for the company from $169.00 to $170.00 in a research note on Thursday, April 18th. Seven analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $175.86.

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.