RB Capital Management LLC Has $2.20 Million Holdings in Johnson & Johnson (NYSE:JNJ)

RB Capital Management LLC cut its stake in shares of Johnson & Johnson (NYSE:JNJ) by 2.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,057 shares of the company’s stock after selling 335 shares during the period. RB Capital Management LLC’s holdings in Johnson & Johnson were worth $2,203,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the stock. International Assets Investment Management LLC grew its stake in shares of 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. LSV Asset Management grew its stake in shares of Johnson & Johnson by 89.9% during the third quarter. LSV Asset Management now owns 2,251,770 shares of the company’s stock worth $350,713,000 after buying an additional 1,065,880 shares during the last quarter. abrdn plc grew its stake in shares of 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 buying an additional 1,027,441 shares during the last quarter. Commerzbank Aktiengesellschaft FI grew its stake in shares of Johnson & Johnson by 2,264.8% during the third quarter. Commerzbank Aktiengesellschaft FI now owns 822,725 shares of the company’s stock worth $128,139,000 after buying an additional 787,934 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its stake in shares of Johnson & Johnson by 22.2% during the third quarter. Envestnet Asset Management Inc. now owns 3,957,429 shares of the company’s stock worth $616,370,000 after buying an additional 719,472 shares during the last quarter. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Jennifer L. Taubert sold 59,397 shares of the business’s stock in a transaction dated 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 completion of the sale, the executive vice president now directly owns 141,416 shares of the company’s stock, valued at $22,099,078.32. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, major shareholder & Johnson Johnson sold 3,725 shares of the business’s 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 completion of the sale, the insider now directly owns 4,099,575 shares of the company’s stock, valued at $105,810,030.75. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Jennifer L. Taubert sold 59,397 shares of the company’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $156.27, for a total transaction of $9,281,969.19. Following the completion of the sale, the executive vice president now directly owns 141,416 shares of the company’s stock, valued at $22,099,078.32. The disclosure for this sale can be found here. Company insiders own 0.16% of the company’s stock.

Johnson & Johnson Price Performance

JNJ stock opened at $148.57 on Tuesday. The company’s fifty day simple moving average is $153.95 and its 200 day simple moving average is $155.00. Johnson & Johnson has a 12-month low of $143.13 and a 12-month high of $175.97. The firm has a market cap of $357.56 billion, a price-to-earnings ratio of 9.26, a PEG ratio of 2.46 and a beta of 0.55. 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 (NYSE:JNJ) last announced its quarterly earnings data 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. Johnson & Johnson had a net margin of 45.26% and a return on equity of 36.70%. The firm had revenue of $21.38 billion for the quarter, compared to analyst estimates of $21.39 billion. During the same quarter in the prior year, the business earned $2.68 earnings per share. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. On average, analysts expect that Johnson & Johnson will post 10.65 earnings per share for the current year.

Johnson & Johnson Increases Dividend

The business 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 dividend of $1.24 per share. The ex-dividend date is Monday, May 20th. This represents a $4.96 annualized dividend and a dividend 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 is currently 29.68%.

Analysts Set New Price Targets

JNJ has been the topic of a number of research reports. Bank of America decreased their target price on shares of Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 17th. HSBC upgraded shares of Johnson & Johnson from a “hold” rating to a “buy” rating and lifted their price target for the stock from $169.00 to $170.00 in a report on Thursday, April 18th. Royal Bank of Canada cut their price target on shares of Johnson & Johnson from $181.00 to $175.00 and set an “outperform” rating on the stock in a report on Wednesday, April 17th. StockNews.com upgraded shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Tuesday, February 6th. Finally, Morgan Stanley cut 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. Seven research 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 company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $175.86.

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.