Merit Financial Group LLC Cuts Stock Position in Johnson & Johnson (NYSE:JNJ)

Merit Financial Group LLC decreased its holdings in Johnson & Johnson (NYSE:JNJ) by 17.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 69,999 shares of the company’s stock after selling 15,309 shares during the period. Merit Financial Group LLC’s holdings in Johnson & Johnson were worth $10,972,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of JNJ. International Assets Investment Management LLC lifted its stake in shares of Johnson & Johnson by 7,875.8% in the 4th quarter. International Assets Investment Management LLC now owns 2,090,384 shares of the company’s stock worth $327,647,000 after purchasing an additional 2,064,175 shares during the period. LSV Asset Management raised its position in Johnson & Johnson by 89.9% in the third quarter. LSV Asset Management now owns 2,251,770 shares of the company’s stock worth $350,713,000 after acquiring an additional 1,065,880 shares during the period. abrdn plc boosted its stake in shares of Johnson & Johnson by 104.1% during the 4th quarter. abrdn plc now owns 2,014,743 shares of the company’s stock worth $315,791,000 after acquiring an additional 1,027,441 shares during the last quarter. Commerzbank Aktiengesellschaft FI grew its position in shares of Johnson & Johnson by 2,264.8% during the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 822,725 shares of the company’s stock valued at $128,139,000 after acquiring an additional 787,934 shares during the period. Finally, Envestnet Asset Management Inc. increased its stake in shares of Johnson & Johnson by 22.2% in the 3rd quarter. Envestnet Asset Management Inc. now owns 3,957,429 shares of the company’s stock worth $616,370,000 after purchasing an additional 719,472 shares in the last quarter. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Stock Performance

NYSE JNJ opened at $148.72 on Wednesday. The stock has a market capitalization of $357.92 billion, a PE ratio of 9.27, a P/E/G ratio of 2.46 and a beta of 0.55. Johnson & Johnson has a 1-year low of $143.13 and a 1-year high of $175.97. The business has a 50 day simple moving average of $153.70 and a two-hundred day simple moving average of $154.97. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.17 and a quick ratio of 0.94.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings results 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. 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 analysts’ expectations of $21.39 billion. During the same quarter in the previous year, the business posted $2.68 earnings per share. Johnson & Johnson’s quarterly revenue was up 2.3% on a year-over-year basis. On average, research analysts predict that Johnson & Johnson will post 10.65 EPS for the current fiscal year.

Johnson & Johnson Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 4th. Investors of record on Tuesday, May 21st will be given a $1.24 dividend. The ex-dividend date is Monday, May 20th. This represents a $4.96 annualized dividend and a yield of 3.34%. This is a positive change from Johnson & Johnson’s previous quarterly dividend of $1.19. Johnson & Johnson’s dividend payout ratio (DPR) is currently 29.68%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on JNJ shares. 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 report on Wednesday, April 17th. Royal Bank of Canada cut their price objective 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. StockNews.com upgraded shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, February 6th. Morgan Stanley lowered 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 report on Wednesday, April 17th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $215.00 price objective on shares of Johnson & Johnson in a research note on Monday. Seven investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $175.86.

Insider Activity

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 transaction, the executive vice president now owns 141,416 shares in the company, valued at $22,099,078.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Jennifer L. Taubert sold 59,397 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 141,416 shares in the company, valued at $22,099,078.32. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder & Johnson Johnson sold 3,725 shares of Johnson & Johnson stock in a transaction dated 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 owns 4,099,575 shares of the company’s stock, 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 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.