Lyell Wealth Management LP Buys 3,099 Shares of Johnson & Johnson (NYSE:JNJ)

Lyell Wealth Management LP raised its stake in Johnson & Johnson (NYSE:JNJ) by 68.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,596 shares of the company’s stock after buying an additional 3,099 shares during the period. Lyell Wealth Management LP’s holdings in Johnson & Johnson were worth $1,191,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. International Assets Investment Management LLC raised its holdings 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 buying an additional 2,064,175 shares in the last quarter. LSV Asset Management raised 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 acquiring an additional 1,065,880 shares in the last quarter. abrdn plc lifted its holdings in shares of Johnson & Johnson by 104.1% in 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 boosted its stake in shares of Johnson & Johnson by 2,264.8% in the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 822,725 shares of the company’s stock valued at $128,139,000 after purchasing an additional 787,934 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its holdings in shares of Johnson & Johnson by 22.2% during the 3rd quarter. Envestnet Asset Management Inc. now owns 3,957,429 shares of the company’s stock valued at $616,370,000 after purchasing an additional 719,472 shares during the last quarter. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Insider Activity

In related news, EVP Jennifer L. Taubert sold 59,397 shares of the 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 completion of the transaction, the executive vice president now directly owns 141,416 shares in the company, valued at approximately $22,099,078.32. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, major shareholder & Johnson Johnson sold 3,725 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $25.81, for a total value of $96,142.25. Following 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 firm’s stock in a transaction on 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 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.

Wall Street Analyst Weigh In

Several research firms have 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 research report on Wednesday, April 17th. Bank of America reduced their price target 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. HSBC raised Johnson & Johnson from a “hold” rating to a “buy” rating and increased their price objective for the company from $169.00 to $170.00 in a research note on Thursday, April 18th. StockNews.com raised shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, February 6th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $215.00 price target on shares of Johnson & Johnson in a report on Monday, April 15th. Seven investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $175.86.

Johnson & Johnson Trading Up 0.5 %

Shares of JNJ opened at $146.84 on Tuesday. Johnson & Johnson has a 1-year low of $143.13 and a 1-year high of $175.97. The firm has a market capitalization of $353.85 billion, a price-to-earnings ratio of 9.15, a PEG ratio of 2.41 and a beta of 0.53. The firm’s 50-day moving average price is $155.07 and its 200-day moving average price is $155.23. The company has a current ratio of 1.16, a quick ratio of 0.91 and a debt-to-equity ratio of 0.38.

Johnson & Johnson (NYSE:JNJ) last posted its earnings results on Tuesday, April 16th. The company reported $2.71 earnings per share for the quarter, topping analysts’ consensus estimates of $2.64 by $0.07. The firm had revenue of $21.38 billion for the quarter, compared to the consensus estimate of $21.39 billion. Johnson & Johnson had a return on equity of 36.43% and a net margin of 45.26%. The business’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.68 EPS. Sell-side analysts anticipate that Johnson & Johnson will post 10.65 EPS for the current year.

Johnson & Johnson Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Shareholders 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 yield of 3.38%. 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%.

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.