Newbridge Financial Services Group Inc. Sells 400 Shares of Johnson & Johnson (NYSE:JNJ)

Newbridge Financial Services Group Inc. lessened its stake in Johnson & Johnson (NYSE:JNJ) by 7.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,039 shares of the company’s stock after selling 400 shares during the quarter. Newbridge Financial Services Group Inc.’s holdings in Johnson & Johnson were worth $790,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Norges Bank purchased a new position in Johnson & Johnson in the fourth quarter worth about $4,071,642,000. Wellington Management Group LLP increased its position in shares of Johnson & Johnson by 16.4% during the fourth quarter. Wellington Management Group LLP now owns 24,019,725 shares of the company’s stock valued at $3,764,852,000 after acquiring an additional 3,391,657 shares in the last quarter. 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 worth $327,647,000 after acquiring an additional 2,064,175 shares during the last quarter. Janney Montgomery Scott LLC bought a new position in Johnson & Johnson in the 4th quarter valued at approximately $193,050,000. Finally, abrdn plc boosted its stake in Johnson & Johnson by 104.1% during the 4th quarter. abrdn plc now owns 2,014,743 shares of the company’s stock valued at $315,791,000 after purchasing an additional 1,027,441 shares during the last quarter. Institutional investors own 69.55% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. The Goldman Sachs Group began coverage on Johnson & Johnson in a report on Thursday, May 30th. They set a “neutral” rating and a $160.00 price target on the stock. StockNews.com cut shares of Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a report on Monday, June 10th. HSBC upgraded shares of Johnson & Johnson from a “hold” rating to a “buy” rating and raised their target price for the stock from $169.00 to $170.00 in a report on Thursday, April 18th. Cantor Fitzgerald reiterated an “overweight” rating and set a $215.00 price objective on shares of Johnson & Johnson in a research report on Monday, May 6th. Finally, Morgan Stanley reduced 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. Eight equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $174.07.

Johnson & Johnson Price Performance

Shares of NYSE:JNJ opened at $145.65 on Wednesday. The company has a market capitalization of $350.53 billion, a P/E ratio of 9.08, a P/E/G ratio of 2.43 and a beta of 0.53. Johnson & Johnson has a 1-year low of $143.13 and a 1-year high of $175.97. The firm’s 50 day simple moving average is $148.13 and its two-hundred day simple moving average is $154.56. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.17 and a quick ratio of 0.94.

Johnson & Johnson (NYSE:JNJ) last issued its earnings results on Tuesday, April 16th. The company reported $2.71 earnings per share for the quarter, topping 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 net margin of 45.26% and a return on equity of 36.70%. During the same quarter in the prior year, the firm posted $2.68 EPS. Johnson & Johnson’s quarterly revenue was up 2.3% compared to the same quarter last year. Research analysts expect that Johnson & Johnson will post 10.63 EPS for the current fiscal year.

Johnson & Johnson Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 4th. Investors of record on Tuesday, May 21st were paid a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a yield of 3.41%. This is a boost from Johnson & Johnson’s previous quarterly dividend of $1.19. The ex-dividend date of this dividend was Monday, May 20th. Johnson & Johnson’s dividend payout ratio (DPR) is presently 30.92%.

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.