Eagle Bay Advisors LLC Decreases Stock Position in Johnson & Johnson (NYSE:JNJ)

Eagle Bay Advisors LLC trimmed its position in shares of Johnson & Johnson (NYSE:JNJ) by 7.4% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,566 shares of the company’s stock after selling 447 shares during the quarter. Eagle Bay Advisors LLC’s holdings in Johnson & Johnson were worth $872,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in JNJ. International Assets Investment Management LLC boosted its stake in 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 worth $327,647,000 after buying an additional 2,064,175 shares during the last quarter. Janney Montgomery Scott LLC acquired a new position in shares of Johnson & Johnson during the 4th quarter valued at about $193,050,000. LSV Asset Management grew its holdings in shares of Johnson & Johnson by 89.9% in the third 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 period. abrdn plc increased its position in Johnson & Johnson by 104.1% during the fourth quarter. abrdn plc now owns 2,014,743 shares of the company’s stock worth $315,791,000 after purchasing an additional 1,027,441 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Johnson & Johnson by 10.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 10,169,190 shares of the company’s stock valued at $1,593,908,000 after purchasing an additional 975,485 shares during the last quarter. 69.55% of the stock is owned by institutional investors and hedge funds.

Johnson & Johnson Price Performance

Shares of JNJ opened at $154.68 on Friday. The company has a quick ratio of 0.94, a current ratio of 1.17 and a debt-to-equity ratio of 0.36. Johnson & Johnson has a fifty-two week low of $143.13 and a fifty-two week high of $175.97. The company has a market cap of $372.27 billion, a P/E ratio of 9.64, a PEG ratio of 2.54 and a beta of 0.55. The firm’s 50 day moving average price is $152.31 and its 200 day moving average price is $155.02.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings data on Tuesday, April 16th. The company reported $2.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.64 by $0.07. Johnson & Johnson had a return on equity of 36.70% and a net margin of 45.26%. The business had revenue of $21.38 billion for the quarter, compared to analysts’ expectations of $21.39 billion. During the same period last year, the firm earned $2.68 earnings per share. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. On average, research analysts forecast that Johnson & Johnson will post 10.64 earnings per share for the current fiscal year.

Johnson & Johnson Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Investors of record on Tuesday, May 21st will be issued a $1.24 dividend. This is a boost from Johnson & Johnson’s previous quarterly dividend of $1.19. The ex-dividend date is Monday, May 20th. This represents a $4.96 annualized dividend and a yield of 3.21%. Johnson & Johnson’s dividend payout ratio (DPR) is 29.68%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on JNJ. Morgan Stanley cut 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 report on Wednesday, April 17th. Royal Bank of Canada restated an “outperform” rating and issued a $175.00 target price on shares of Johnson & Johnson in a research report on Thursday. HSBC upgraded Johnson & Johnson from a “hold” rating to a “buy” rating and increased their price target for the stock from $169.00 to $170.00 in a report on Thursday, April 18th. Bank of America reduced their price objective 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, StockNews.com raised shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, February 6th. Seven investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently 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.