Gilliland Jeter Wealth Management LLC Invests $2.47 Million in Johnson & Johnson (NYSE:JNJ)

Gilliland Jeter Wealth Management LLC bought a new position in shares of Johnson & Johnson (NYSE:JNJ) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 15,742 shares of the company’s stock, valued at approximately $2,467,000. Johnson & Johnson makes up approximately 1.0% of Gilliland Jeter Wealth Management LLC’s portfolio, making the stock its 27th biggest position.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. International Assets Investment Management LLC raised its holdings in Johnson & Johnson by 7,875.8% in 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. LSV Asset Management raised its holdings in Johnson & Johnson by 89.9% in the 3rd quarter. LSV Asset Management now owns 2,251,770 shares of the company’s stock valued at $350,713,000 after acquiring an additional 1,065,880 shares during the last quarter. abrdn plc raised its holdings in Johnson & Johnson by 104.1% in the 4th quarter. abrdn plc now owns 2,014,743 shares of the company’s stock valued at $315,791,000 after acquiring an additional 1,027,441 shares during the last quarter. Commerzbank Aktiengesellschaft FI raised its holdings in 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 acquiring an additional 787,934 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased 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 worth $616,370,000 after buying an additional 719,472 shares during the last quarter. 69.55% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, major shareholder & Johnson Johnson sold 3,725 shares of the company’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $25.81, for a total value of $96,142.25. Following the completion of the transaction, the insider now directly owns 4,099,575 shares in the company, valued at $105,810,030.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, major shareholder & Johnson Johnson sold 3,725 shares of the company’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $25.81, for a total value of $96,142.25. Following the completion of the transaction, the insider now directly owns 4,099,575 shares in the company, valued at $105,810,030.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jennifer L. Taubert sold 59,397 shares of the company’s stock in a transaction 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 completion of 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. Insiders own 0.16% of the company’s stock.

Johnson & Johnson Stock Performance

Shares of JNJ stock opened at $151.16 on Thursday. Johnson & Johnson has a one year low of $143.13 and a one year high of $175.97. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.91 and a current ratio of 1.16. The company has a 50 day moving average price of $154.65 and a 200 day moving average price of $155.11. The firm has a market capitalization of $364.26 billion, a price-to-earnings ratio of 9.42, a price-to-earnings-growth ratio of 2.38 and a beta of 0.55.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings data on Tuesday, April 16th. The company reported $2.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.64 by $0.07. Johnson & Johnson had a net margin of 45.26% and a return on equity of 36.43%. The company had revenue of $21.38 billion during 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. Sell-side analysts anticipate that Johnson & Johnson will post 10.65 EPS for the current year.

Johnson & Johnson Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 21st will be given a $1.24 dividend. The ex-dividend date of this dividend is Monday, May 20th. This represents a $4.96 annualized dividend and a dividend yield of 3.28%. This is a positive change from Johnson & Johnson’s previous quarterly dividend of $1.19. Johnson & Johnson’s dividend payout ratio is presently 29.68%.

Analyst Upgrades and Downgrades

JNJ has been the subject of a number of recent analyst reports. HSBC upgraded shares of Johnson & Johnson from a “hold” rating to a “buy” rating and raised their price target for the stock from $169.00 to $170.00 in a report on Thursday, April 18th. Raymond James raised their price target on shares of Johnson & Johnson from $172.00 to $175.00 and gave the stock an “outperform” rating in a report on Wednesday, January 3rd. 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. StockNews.com upgraded shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Tuesday, February 6th. Finally, Bank of America lowered their price objective 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. Seven research 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. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target 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.