Verdence Capital Advisors LLC Acquires 710 Shares of Johnson & Johnson (NYSE:JNJ)

Verdence Capital Advisors LLC lifted its holdings in Johnson & Johnson (NYSE:JNJ) by 1.1% in the 4th quarter, HoldingsChannel.com reports. The fund owned 64,726 shares of the company’s stock after buying an additional 710 shares during the period. Johnson & Johnson comprises approximately 1.0% of Verdence Capital Advisors LLC’s holdings, making the stock its 14th largest position. Verdence Capital Advisors LLC’s holdings in Johnson & Johnson were worth $10,145,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Calamos Wealth Management LLC raised its position in shares of Johnson & Johnson by 50.2% in the 4th quarter. Calamos Wealth Management LLC now owns 30,741 shares of the company’s stock worth $4,818,000 after acquiring an additional 10,280 shares in the last quarter. Grandfield & Dodd LLC increased its position in Johnson & Johnson by 0.9% in the 4th quarter. Grandfield & Dodd LLC now owns 107,168 shares of the company’s stock valued at $16,798,000 after buying an additional 930 shares in the last quarter. DT Investment Partners LLC increased its position in Johnson & Johnson by 0.6% in the 4th quarter. DT Investment Partners LLC now owns 70,482 shares of the company’s stock valued at $11,190,000 after buying an additional 445 shares in the last quarter. abrdn plc increased its position in Johnson & Johnson by 104.1% in the 4th 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. Finally, Cooke & Bieler LP increased its position in Johnson & Johnson by 5.8% in the 4th quarter. Cooke & Bieler LP now owns 858,687 shares of the company’s stock valued at $134,591,000 after buying an additional 47,251 shares in the last quarter. 69.55% of the stock is owned by institutional investors.

Johnson & Johnson Price Performance

Shares of NYSE JNJ opened at $146.82 on Friday. Johnson & Johnson has a twelve month low of $143.13 and a twelve month high of $175.97. The stock’s 50 day moving average price is $155.47 and its 200-day moving average price is $155.41. The company has a market capitalization of $353.80 billion, a PE ratio of 9.15, a PEG ratio of 2.45 and a beta of 0.53. The company has a quick ratio of 0.91, a current ratio of 1.16 and a debt-to-equity ratio of 0.38.

Johnson & Johnson (NYSE:JNJ) last announced its earnings results on Tuesday, April 16th. The company reported $2.71 earnings per share for the quarter, topping analysts’ consensus estimates of $2.64 by $0.07. Johnson & Johnson had a return on equity of 36.43% and a net margin of 45.26%. The firm had revenue of $21.38 billion for the quarter, compared to the consensus estimate of $21.39 billion. During the same quarter in the previous year, the business earned $2.68 EPS. The company’s revenue was up 2.3% compared to the same quarter last year. On average, equities analysts anticipate that Johnson & Johnson will post 10.65 EPS for the current year.

Johnson & Johnson Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Investors of record on Tuesday, May 21st will be paid a $1.24 dividend. This is an increase from Johnson & Johnson’s previous quarterly dividend of $1.19. The ex-dividend date of this dividend is Monday, May 20th. This represents a $4.96 annualized dividend and a yield of 3.38%. Johnson & Johnson’s dividend payout ratio is presently 29.68%.

Insider Activity at Johnson & Johnson

In related news, major shareholder & Johnson Johnson sold 3,725 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $25.81, for a total value of $96,142.25. Following the transaction, the insider now owns 4,099,575 shares in the company, valued at $105,810,030.75. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Johnson & Johnson news, EVP Jennifer L. Taubert sold 59,397 shares of the business’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $156.27, for a total transaction of $9,281,969.19. Following the sale, the executive vice president now owns 141,416 shares of the company’s stock, valued at approximately $22,099,078.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder & Johnson Johnson sold 3,725 shares of the business’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $25.81, for a total transaction of $96,142.25. Following the sale, the insider now directly owns 4,099,575 shares in the company, valued at approximately $105,810,030.75. The disclosure for this sale can be found here. 0.16% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages recently commented on JNJ. Raymond James boosted their target price on Johnson & Johnson from $172.00 to $175.00 and gave the company an “outperform” rating in a research report on Wednesday, January 3rd. Bank of America decreased their target price on Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating for the company in a research report on Wednesday, April 17th. HSBC raised Johnson & Johnson from a “hold” rating to a “buy” rating and boosted their target price for the company from $169.00 to $170.00 in a research report on Thursday, April 18th. Cantor Fitzgerald reiterated an “overweight” rating and set a $215.00 price target on shares of Johnson & Johnson in a research note on Monday, April 15th. Finally, Royal Bank of Canada cut their price target on Johnson & Johnson from $181.00 to $175.00 and set an “outperform” rating for the company in a research note on Wednesday, April 17th. Seven analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average 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.