Johnson & Johnson (NYSE:JNJ) Shares Sold by SouthState Corp

SouthState Corp lowered its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 1.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 107,641 shares of the company’s stock after selling 1,306 shares during the quarter. Johnson & Johnson makes up 1.4% of SouthState Corp’s holdings, making the stock its 19th largest position. SouthState Corp’s holdings in Johnson & Johnson were worth $16,872,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Smart Money Group LLC lifted its position in Johnson & Johnson by 9.0% during the fourth quarter. Smart Money Group LLC now owns 3,865 shares of the company’s stock worth $606,000 after buying an additional 318 shares in the last quarter. Westover Capital Advisors LLC raised its stake in Johnson & Johnson by 5.8% during the fourth quarter. Westover Capital Advisors LLC now owns 3,328 shares of the company’s stock worth $522,000 after purchasing an additional 182 shares during the period. Concentrum Wealth Management grew its stake in shares of Johnson & Johnson by 5.1% in the 4th quarter. Concentrum Wealth Management now owns 2,193 shares of the company’s stock valued at $344,000 after buying an additional 106 shares during the period. Summit Asset Management LLC lifted its holdings in Johnson & Johnson by 2.6% in the fourth quarter. Summit Asset Management LLC now owns 14,568 shares of the company’s stock valued at $2,283,000 after acquiring an additional 373 shares during the last quarter. Finally, West Family Investments Inc. increased its stake in Johnson & Johnson by 13.6% during the fourth quarter. West Family Investments Inc. now owns 9,060 shares of the company’s stock worth $1,420,000 after acquiring an additional 1,087 shares during the last quarter. 69.55% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have commented on JNJ. HSBC upgraded Johnson & Johnson from a “hold” rating to a “buy” rating and upped their price target for the stock from $169.00 to $170.00 in a research note on Thursday, April 18th. Morgan Stanley decreased their price target on shares of Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 17th. Bank of America reduced their price objective 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. StockNews.com upgraded Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, February 6th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $215.00 price target on shares of Johnson & Johnson in a report on Monday. Seven investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $175.86.

Insider Activity

In related news, major shareholder & Johnson Johnson sold 3,725 shares of Johnson & Johnson 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 transaction, the insider now owns 4,099,575 shares in the company, valued at approximately $105,810,030.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Johnson & Johnson news, EVP Jennifer L. Taubert sold 59,397 shares of the 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 transaction, the executive vice president now directly owns 141,416 shares in the company, valued at approximately $22,099,078.32. The transaction 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 company’s stock in a transaction that occurred on 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. Corporate insiders own 0.16% of the company’s stock.

Johnson & Johnson Stock Up 0.1 %

Shares of NYSE JNJ opened at $148.72 on Wednesday. Johnson & Johnson has a 1 year low of $143.13 and a 1 year high of $175.97. The firm has a market cap of $357.92 billion, a P/E ratio of 9.27, a price-to-earnings-growth ratio of 2.46 and a beta of 0.55. The firm’s 50 day moving average price is $153.70 and its 200 day moving average price is $154.97. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.94 and a current ratio of 1.17.

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

Johnson & Johnson Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 21st will be issued a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.34%. 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. Johnson & Johnson’s dividend payout ratio (DPR) is 29.68%.

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.