Comerica Bank Lowers Stake in Johnson & Johnson (NYSE:JNJ)

Comerica Bank lowered its stake in shares of Johnson & Johnson (NYSE:JNJ) by 1.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 950,504 shares of the company’s stock after selling 17,281 shares during the period. Johnson & Johnson accounts for about 0.7% of Comerica Bank’s investment portfolio, making the stock its 23rd biggest holding. Comerica Bank’s holdings in Johnson & Johnson were worth $148,982,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Norges Bank acquired a new position in shares of Johnson & Johnson during the fourth quarter worth $4,071,642,000. International Assets Investment Management LLC increased its position in shares of Johnson & Johnson by 7,875.8% during the fourth quarter. International Assets Investment Management LLC now owns 2,090,384 shares of the company’s stock worth $327,647,000 after purchasing an additional 2,064,175 shares in the last quarter. Janney Montgomery Scott LLC acquired a new position in shares of Johnson & Johnson during the fourth quarter worth $193,050,000. abrdn plc increased its position 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 valued at $315,791,000 after acquiring an additional 1,027,441 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in shares of Johnson & Johnson by 10.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 10,169,190 shares of the company’s stock valued at $1,593,908,000 after acquiring an additional 975,485 shares during the period. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Trading Down 0.9 %

Shares of NYSE JNJ traded down $1.36 during midday trading on Wednesday, reaching $145.40. 6,178,142 shares of the stock were exchanged, compared to its average volume of 7,410,223. The company has a 50 day simple moving average of $148.66 and a 200 day simple moving average of $154.77. The stock has a market capitalization of $349.93 billion, a P/E ratio of 9.06, a PEG ratio of 2.45 and a beta of 0.53. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.94 and a current ratio of 1.17. Johnson & Johnson has a twelve month low of $143.13 and a twelve month high of $175.97.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings results on Tuesday, April 16th. The company reported $2.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.64 by $0.07. Johnson & Johnson had a net margin of 45.26% and a return on equity of 36.70%. The business had revenue of $21.38 billion during the quarter, compared to the consensus estimate of $21.39 billion. During the same quarter last year, the firm earned $2.68 EPS. The business’s revenue was up 2.3% compared to the same quarter last year. As a group, equities analysts expect that Johnson & Johnson will post 10.63 earnings per share for the current 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 issued a $1.24 dividend. This represents a $4.96 annualized dividend and a yield of 3.41%. The ex-dividend date of this dividend was Monday, May 20th. This is an increase from Johnson & Johnson’s previous quarterly dividend of $1.19. Johnson & Johnson’s dividend payout ratio (DPR) is 30.92%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on JNJ shares. HSBC raised Johnson & Johnson from a “hold” rating to a “buy” rating and increased their price target for the stock from $169.00 to $170.00 in a research report on Thursday, April 18th. The Goldman Sachs Group initiated coverage on shares of Johnson & Johnson in a research note on Thursday, May 30th. They set a “neutral” rating and a $160.00 target price on the stock. Morgan Stanley lowered their target price on shares of Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 17th. Bank of America lowered their target price on shares of Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 17th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $215.00 price target on shares of Johnson & Johnson in a research note on Monday, May 6th. Eight analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $174.07.

Johnson & Johnson 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.