SouthState Corp Sells 12,965 Shares of Johnson & Johnson (NYSE:JNJ)

SouthState Corp trimmed its position in shares of Johnson & Johnson (NYSE:JNJ) by 18.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 56,157 shares of the company’s stock after selling 12,965 shares during the period. SouthState Corp’s holdings in Johnson & Johnson were worth $8,121,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Vinva Investment Management Ltd grew its holdings in Johnson & Johnson by 6.8% during the 3rd quarter. Vinva Investment Management Ltd now owns 111,448 shares of the company’s stock valued at $17,988,000 after purchasing an additional 7,110 shares during the last quarter. Financial Counselors Inc. grew its stake in Johnson & Johnson by 5.3% in the 3rd quarter. Financial Counselors Inc. now owns 185,093 shares of the company’s stock worth $29,996,000 after acquiring an additional 9,309 shares in the last quarter. Oregon Pacific Wealth Management LLC bought a new position in Johnson & Johnson in the 4th quarter worth about $949,000. Horan Securities Inc. grew its stake in Johnson & Johnson by 1.3% in the 4th quarter. Horan Securities Inc. now owns 7,178 shares of the company’s stock worth $1,038,000 after acquiring an additional 90 shares in the last quarter. Finally, Strategic Financial Concepts LLC grew its stake in Johnson & Johnson by 57.9% in the 4th quarter. Strategic Financial Concepts LLC now owns 3,467 shares of the company’s stock worth $501,000 after acquiring an additional 1,271 shares in the last quarter. 69.55% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

JNJ has been the topic of a number of research analyst reports. Raymond James dropped their target price on shares of Johnson & Johnson from $170.00 to $165.00 and set an “outperform” rating on the stock in a research note on Thursday, January 23rd. Wells Fargo & Company dropped their target price on shares of Johnson & Johnson from $166.00 to $152.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 23rd. StockNews.com upgraded shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Saturday, January 25th. Leerink Partners dropped their price objective on shares of Johnson & Johnson from $182.00 to $169.00 and set an “outperform” rating on the stock in a research note on Thursday, January 23rd. Finally, Bank of America increased their price objective on shares of Johnson & Johnson from $159.00 to $171.00 and gave the company a “neutral” rating in a research note on Wednesday, March 5th. Nine analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Johnson & Johnson currently has a consensus rating of “Moderate Buy” and a consensus target price of $171.33.

Johnson & Johnson Trading Down 0.0 %

NYSE JNJ opened at $162.94 on Monday. The company has a fifty day simple moving average of $154.98 and a two-hundred day simple moving average of $156.27. The stock has a market cap of $392.29 billion, a P/E ratio of 24.50, a P/E/G ratio of 2.56 and a beta of 0.47. Johnson & Johnson has a 12-month low of $140.68 and a 12-month high of $169.99. The company has a current ratio of 1.11, a quick ratio of 0.86 and a debt-to-equity ratio of 0.43.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings results on Wednesday, January 22nd. The company reported $2.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.99 by $0.05. The business had revenue of $22.52 billion during the quarter, compared to analysts’ expectations of $22.44 billion. Johnson & Johnson had a net margin of 18.20% and a return on equity of 34.24%. The business’s quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter last year, the company posted $2.29 earnings per share. On average, analysts forecast that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th were issued a dividend of $1.24 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $4.96 annualized dividend and a dividend yield of 3.04%. Johnson & Johnson’s dividend payout ratio (DPR) is presently 74.59%.

Insider Buying and Selling

In related news, VP Robert J. Decker sold 6,999 shares of the firm’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $165.88, for a total transaction of $1,160,994.12. Following the completion of the transaction, the vice president now owns 21,001 shares of the company’s stock, valued at $3,483,645.88. This trade represents a 25.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Timothy Schmid sold 403 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $156.15, for a total transaction of $62,928.45. Following the transaction, the executive vice president now directly owns 15,098 shares of the company’s stock, valued at approximately $2,357,552.70. This trade represents a 2.60 % decrease in their position. The disclosure for this sale can be found here. 0.16% of the stock is currently owned by corporate 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.