abrdn plc Acquires 1,027,441 Shares of Johnson & Johnson (NYSE:JNJ)

abrdn plc raised its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 104.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,014,743 shares of the company’s stock after acquiring an additional 1,027,441 shares during the quarter. Johnson & Johnson comprises approximately 0.7% of abrdn plc’s portfolio, making the stock its 21st biggest holding. abrdn plc owned approximately 0.08% of Johnson & Johnson worth $315,791,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Tower View Wealth Management LLC increased its holdings in shares of Johnson & Johnson by 183.3% in the third quarter. Tower View Wealth Management LLC now owns 255 shares of the company’s stock worth $40,000 after purchasing an additional 165 shares during the period. Keener Financial Planning LLC bought a new position in shares of Johnson & Johnson in the fourth quarter worth $40,000. Creative Capital Management Investments LLC grew its position in Johnson & Johnson by 43.0% in the third quarter. Creative Capital Management Investments LLC now owns 286 shares of the company’s stock worth $45,000 after acquiring an additional 86 shares in the last quarter. Altshuler Shaham Ltd grew its position in Johnson & Johnson by 37.8% in the third quarter. Altshuler Shaham Ltd now owns 317 shares of the company’s stock worth $49,000 after acquiring an additional 87 shares in the last quarter. Finally, Mizuho Securities Co. Ltd. grew its position in Johnson & Johnson by 216.7% in the third quarter. Mizuho Securities Co. Ltd. now owns 380 shares of the company’s stock worth $59,000 after acquiring an additional 260 shares in the last quarter. Institutional investors own 69.55% of the company’s stock.

Insider Activity at Johnson & Johnson

In related news, major shareholder & Johnson Johnson sold 3,725 shares of the firm’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 transaction of $96,142.25. Following the completion of the sale, the insider now owns 4,099,575 shares of the company’s stock, valued at $105,810,030.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, major shareholder & Johnson Johnson sold 3,725 shares of the firm’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 transaction of $96,142.25. Following the completion of the sale, the insider now owns 4,099,575 shares of the company’s stock, valued at $105,810,030.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Jennifer L. Taubert sold 59,397 shares of the firm’s stock in a transaction that occurred 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 sale, the executive vice president now directly owns 141,416 shares of the company’s stock, valued at approximately $22,099,078.32. The disclosure for this sale can be found here. 0.16% of the stock is owned by insiders.

Johnson & Johnson Price Performance

JNJ stock opened at $146.82 on Friday. 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 $353.80 billion, a P/E ratio of 9.15, a PEG ratio of 2.45 and a beta of 0.53. The firm has a 50-day moving average of $155.47 and a 200 day moving average of $155.41. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.16 and a quick ratio of 0.91.

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 analysts’ consensus estimates of $2.64 by $0.07. Johnson & Johnson had a net margin of 45.26% and a return on equity of 36.43%. The business had revenue of $21.38 billion during the quarter, compared to the consensus estimate of $21.39 billion. During the same quarter last year, the firm earned $2.68 earnings per share. The business’s revenue for the quarter was up 2.3% on a year-over-year basis. On average, sell-side analysts forecast that Johnson & Johnson will post 10.65 EPS for the current year.

Johnson & Johnson Increases Dividend

The company 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 dividend of $1.24 per share. The ex-dividend date of this dividend is Monday, May 20th. This represents a $4.96 annualized dividend and a dividend yield of 3.38%. This is an increase from Johnson & Johnson’s previous quarterly dividend of $1.19. Johnson & Johnson’s dividend payout ratio (DPR) is 29.68%.

Analysts Set New Price Targets

Several brokerages recently issued reports on JNJ. Cantor Fitzgerald reiterated an “overweight” rating and issued a $215.00 target price on shares of Johnson & Johnson in a research report on Monday, April 15th. Royal Bank of Canada cut their price target on shares of Johnson & Johnson from $181.00 to $175.00 and set an “outperform” rating for the company in a research report on Wednesday, April 17th. Bank of America cut their price target on shares of Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating for the company in a research report on Wednesday, April 17th. 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 research report on Wednesday, April 17th. Finally, HSBC upgraded shares of Johnson & Johnson from a “hold” rating to a “buy” rating and upped their price target for the company from $169.00 to $170.00 in a research report on Thursday, April 18th. Seven research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $175.86.

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.