Mach 1 Financial Group LLC Sells 6,447 Shares of Johnson & Johnson (NYSE:JNJ)

Mach 1 Financial Group LLC cut its stake in shares of Johnson & Johnson (NYSE:JNJ) by 46.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,402 shares of the company’s stock after selling 6,447 shares during the quarter. Mach 1 Financial Group LLC’s holdings in Johnson & Johnson were worth $1,160,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. International Assets Investment Management LLC raised its position in shares of 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 valued at $327,647,000 after buying an additional 2,064,175 shares during the last quarter. LSV Asset Management boosted its holdings in shares of Johnson & Johnson by 89.9% during the 3rd quarter. LSV Asset Management now owns 2,251,770 shares of the company’s stock valued at $350,713,000 after purchasing an additional 1,065,880 shares during the last quarter. abrdn plc grew its position in shares of Johnson & Johnson by 104.1% during the fourth quarter. abrdn plc now owns 2,014,743 shares of the company’s stock valued at $315,791,000 after purchasing an additional 1,027,441 shares in the last quarter. Commerzbank Aktiengesellschaft FI increased its holdings in shares of Johnson & Johnson by 2,264.8% in the third quarter. Commerzbank Aktiengesellschaft FI now owns 822,725 shares of the company’s stock worth $128,139,000 after purchasing an additional 787,934 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its position in shares of Johnson & Johnson by 22.2% in the third quarter. Envestnet Asset Management Inc. now owns 3,957,429 shares of the company’s stock worth $616,370,000 after buying an additional 719,472 shares in the last quarter. 69.55% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

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

Johnson & Johnson Stock Down 0.4 %

Shares of NYSE JNJ opened at $149.27 on Monday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.17 and a quick ratio of 0.91. The firm has a 50-day simple moving average of $154.19 and a two-hundred day simple moving average of $155.03. Johnson & Johnson has a 1 year low of $143.13 and a 1 year high of $175.97. The company has a market cap of $359.25 billion, a P/E ratio of 9.31, a PEG ratio of 2.46 and a beta of 0.55.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings results on Tuesday, April 16th. The company reported $2.71 EPS for the quarter, topping the consensus estimate of $2.64 by $0.07. Johnson & Johnson had a net margin of 45.26% and a return on equity of 36.70%. The company had revenue of $21.38 billion for the quarter, compared to the consensus estimate of $21.39 billion. During the same quarter last year, the firm posted $2.68 EPS. The firm’s revenue was up 2.3% compared to the same quarter last year. Research analysts anticipate that Johnson & Johnson will post 10.65 earnings per share for the current year.

Johnson & Johnson Increases Dividend

The firm 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. The ex-dividend date is Monday, May 20th. This is a positive change from Johnson & Johnson’s previous quarterly dividend of $1.19. This represents a $4.96 dividend on an annualized basis and a yield of 3.32%. Johnson & Johnson’s dividend payout ratio is 29.68%.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $215.00 price objective on shares of Johnson & Johnson in a research note on Monday, April 15th. Morgan Stanley decreased their price target on shares of 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. StockNews.com upgraded shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, February 6th. Bank of America reduced their target price on shares of Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating on the stock in a report on Wednesday, April 17th. Finally, HSBC raised shares of Johnson & Johnson from a “hold” rating to a “buy” rating and increased their price target for the company from $169.00 to $170.00 in a report on Thursday, April 18th. Seven equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Johnson & Johnson currently has an average rating of “Moderate Buy” and an average target price of $175.86.

About Johnson & Johnson

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.