Schneider Downs Wealth Management Advisors LP Decreases Stock Position in Johnson & Johnson (NYSE:JNJ)

Schneider Downs Wealth Management Advisors LP cut its holdings in Johnson & Johnson (NYSE:JNJ) by 5.9% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,055 shares of the company’s stock after selling 128 shares during the period. Schneider Downs Wealth Management Advisors LP’s holdings in Johnson & Johnson were worth $322,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank purchased a new position in Johnson & Johnson in the 4th quarter valued at about $4,071,642,000. International Assets Investment Management LLC increased its stake in shares of Johnson & Johnson by 7,875.8% during the 4th quarter. International Assets Investment Management LLC now owns 2,090,384 shares of the company’s stock valued at $327,647,000 after acquiring an additional 2,064,175 shares during the last quarter. Janney Montgomery Scott LLC purchased a new position in shares of Johnson & Johnson during the 4th quarter worth about $193,050,000. LSV Asset Management boosted its position 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 worth $350,713,000 after acquiring an additional 1,065,880 shares during the last quarter. Finally, 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. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. HSBC upgraded shares of Johnson & Johnson from a “hold” rating to a “buy” rating and lifted their price target for the company from $169.00 to $170.00 in a report on Thursday, April 18th. Bank of America dropped their price target on Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating for the company in a research note on Wednesday, April 17th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $175.00 price objective on shares of Johnson & Johnson in a research note on Thursday, May 16th. Cantor Fitzgerald reissued an “overweight” rating and set a $215.00 target price on shares of Johnson & Johnson in a research report on Monday, May 6th. Finally, StockNews.com raised shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, February 6th. Seven equities research 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. Based on data from MarketBeat, Johnson & Johnson has an average rating of “Moderate Buy” and a consensus target price of $175.86.

Johnson & Johnson Price Performance

JNJ opened at $151.25 on Wednesday. Johnson & Johnson has a twelve month low of $143.13 and a twelve month high of $175.97. The company has a current ratio of 1.17, a quick ratio of 0.94 and a debt-to-equity ratio of 0.36. The firm has a market cap of $364.01 billion, a price-to-earnings ratio of 9.43, a PEG ratio of 2.49 and a beta of 0.55. The company has a fifty day simple moving average of $151.88 and a 200 day simple moving average of $155.12.

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

Johnson & Johnson Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 21st will be paid a dividend of $1.24 per share. This is a boost from Johnson & Johnson’s previous quarterly dividend of $1.19. This represents a $4.96 annualized dividend and a dividend yield of 3.28%. The ex-dividend date is Monday, May 20th. Johnson & Johnson’s dividend payout ratio is 30.92%.

Johnson & Johnson 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.