New York Life Investment Management LLC Has $54.35 Million Position in Johnson & Johnson (NYSE:JNJ)

New York Life Investment Management LLC cut its holdings in Johnson & Johnson (NYSE:JNJFree Report) by 6.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 348,956 shares of the company’s stock after selling 25,626 shares during the period. New York Life Investment Management LLC’s holdings in Johnson & Johnson were worth $54,350,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. DORCHESTER WEALTH MANAGEMENT Co increased its holdings in shares of Johnson & Johnson by 8.6% in the first quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 67,618 shares of the company’s stock worth $14,975,000 after purchasing an additional 5,327 shares during the period. Cantor Fitzgerald Investment Advisor L.P boosted its position in Johnson & Johnson by 88.9% during the first quarter. Cantor Fitzgerald Investment Advisor L.P now owns 175,194 shares of the company’s stock valued at $31,049,000 after buying an additional 82,429 shares during the period. AMI Investment Management Inc. boosted its position in Johnson & Johnson by 8.8% during the first quarter. AMI Investment Management Inc. now owns 18,305 shares of the company’s stock valued at $3,244,000 after buying an additional 1,475 shares during the period. Equitable Holdings Inc. boosted its holdings in shares of Johnson & Johnson by 4.9% during the first quarter. Equitable Holdings Inc. now owns 45,673 shares of the company’s stock worth $8,095,000 after purchasing an additional 2,119 shares during the period. Finally, USS Investment Management Ltd boosted its holdings in shares of Johnson & Johnson by 2.4% during the first quarter. USS Investment Management Ltd now owns 860,371 shares of the company’s stock worth $152,488,000 after purchasing an additional 20,528 shares during the period. 68.40% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on JNJ shares. Royal Bank of Canada reissued an “outperform” rating and issued a $181.00 price target on shares of Johnson & Johnson in a research note on Wednesday, January 24th. Raymond James raised their target price on shares of Johnson & Johnson from $172.00 to $175.00 and gave the company an “outperform” rating in a research note on Wednesday, January 3rd. TheStreet downgraded shares of Johnson & Johnson from a “b” rating to a “c+” rating in a research note on Friday, November 17th. StockNews.com raised shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, February 6th. Finally, UBS Group raised shares of Johnson & Johnson from a “neutral” rating to a “buy” rating and raised their target price for the company from $167.00 to $180.00 in a research note on Friday, December 1st. Eight research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $176.14.

Read Our Latest Analysis on JNJ

Johnson & Johnson Stock Performance

Johnson & Johnson stock opened at $156.76 on Monday. The company has a market cap of $377.37 billion, a PE ratio of 11.35, a price-to-earnings-growth ratio of 2.63 and a beta of 0.53. Johnson & Johnson has a twelve month low of $144.95 and a twelve month high of $175.97. The company’s 50-day moving average price is $158.20 and its 200-day moving average price is $158.73. The company has a quick ratio of 0.96, a current ratio of 1.21 and a debt-to-equity ratio of 0.37.

Johnson & Johnson (NYSE:JNJGet Free Report) last issued its earnings results on Tuesday, January 23rd. The company reported $2.29 EPS for the quarter, topping analysts’ consensus estimates of $2.28 by $0.01. Johnson & Johnson had a net margin of 37.79% and a return on equity of 36.75%. The business had revenue of $21.40 billion for the quarter, compared to the consensus estimate of $21.02 billion. During the same period in the prior year, the firm earned $2.35 EPS. The company’s revenue for the quarter was down 9.7% compared to the same quarter last year. On average, equities research analysts forecast that Johnson & Johnson will post 10.65 EPS for the current fiscal year.

Johnson & Johnson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 5th. Stockholders of record on Tuesday, February 20th will be given a $1.19 dividend. The ex-dividend date of this dividend is Friday, February 16th. This represents a $4.76 annualized dividend and a dividend yield of 3.04%. Johnson & Johnson’s dividend payout ratio (DPR) is 34.47%.

Johnson & Johnson Profile

(Free Report)

Johnson & Johnson, together with its subsidiaries, researches, develops, manufactures, and sells various products in the healthcare field worldwide. The company's Consumer Health segment provides skin health/beauty products under the AVEENO, CLEAN & CLEAR, DR. CI:LABO, NEUTROGENA, and OGX brands; baby care products under the JOHNSON'S and AVEENO Baby brands; oral care products under the LISTERINE brand; TYLENOL acetaminophen products; SUDAFED cold, flu, and allergy products; BENADRYL and ZYRTEC allergy products; MOTRIN IB ibuprofen products; NICORETTE smoking cessation products; and PEPCID acid reflux products.

Further Reading

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Institutional Ownership by Quarter for Johnson & Johnson (NYSE:JNJ)

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