Allspring Global Investments Holdings LLC Raises Stock Position in Johnson & Johnson (NYSE:JNJ)

Allspring Global Investments Holdings LLC increased its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 20.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 544,291 shares of the company’s stock after purchasing an additional 92,693 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Johnson & Johnson were worth $78,389,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in the stock. IFS Advisors LLC raised its holdings in shares of Johnson & Johnson by 138.9% during the 4th quarter. IFS Advisors LLC now owns 172 shares of the company’s stock valued at $25,000 after buying an additional 100 shares during the period. Highline Wealth Partners LLC acquired a new stake in Johnson & Johnson in the third quarter valued at approximately $31,000. Bay Harbor Wealth Management LLC purchased a new stake in shares of Johnson & Johnson during the fourth quarter valued at approximately $32,000. RPg Family Wealth Advisory LLC purchased a new position in shares of Johnson & Johnson in the third quarter valued at $35,000. Finally, Mowery & Schoenfeld Wealth Management LLC grew its holdings in Johnson & Johnson by 58.7% during the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 246 shares of the company’s stock valued at $40,000 after purchasing an additional 91 shares in the last quarter. 69.55% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Argus raised shares of Johnson & Johnson to a “strong-buy” rating in a research report on Friday, January 24th. Barclays raised their price objective on Johnson & Johnson from $159.00 to $166.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 28th. Citigroup cut their target price on Johnson & Johnson from $185.00 to $175.00 and set a “buy” rating on the stock in a research report on Wednesday, December 11th. Morgan Stanley dropped their price target on shares of Johnson & Johnson from $175.00 to $163.00 and set an “equal weight” rating for the company in a research note on Thursday, January 23rd. Finally, Stifel Nicolaus decreased their price objective on shares of Johnson & Johnson from $170.00 to $155.00 and set a “hold” rating for the company in a report on Thursday, January 23rd. Nine analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Johnson & Johnson has an average rating of “Moderate Buy” and an average target price of $170.67.

Johnson & Johnson Trading Down 0.7 %

NYSE:JNJ opened at $156.20 on Friday. Johnson & Johnson has a 12-month low of $140.68 and a 12-month high of $168.85. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.03 and a quick ratio of 0.79. The business has a 50 day simple moving average of $147.87 and a 200 day simple moving average of $156.00. The firm has a market capitalization of $376.08 billion, a P/E ratio of 23.49, a P/E/G ratio of 2.46 and a beta of 0.52.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings results on Wednesday, January 22nd. The company reported $2.04 EPS for the quarter, topping the consensus estimate of $1.99 by $0.05. The business had revenue of $22.52 billion during the quarter, compared to analyst estimates of $22.44 billion. Johnson & Johnson had a net margin of 18.20% and a return on equity of 34.35%. The company’s quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.29 earnings per share. Equities research analysts predict that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th will be given a dividend of $1.24 per share. The ex-dividend date is Tuesday, February 18th. This represents a $4.96 annualized dividend and a dividend yield of 3.18%. Johnson & Johnson’s dividend payout ratio is presently 74.59%.

Insider Activity at Johnson & Johnson

In other Johnson & Johnson news, Director Mark A. Weinberger purchased 1,000 shares of the stock in a transaction dated Thursday, December 12th. The shares were bought at an average cost of $147.22 per share, with a total value of $147,220.00. Following the completion of the acquisition, the director now owns 1,000 shares of the company’s stock, valued at approximately $147,220. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.16% of the stock is owned by insiders.

About Johnson & Johnson

Johnson & Johnson is a holding company, which engages in the research, development, manufacture, and sale of products in the healthcare field. It operates through the Innovative Medicine and MedTech segments. The Innovative Medicine segment focuses on immunology, infectious diseases, neuroscience, oncology, cardiovascular and metabolism, and pulmonary hypertension.