Journey Strategic Wealth LLC Has $1.08 Billion Holdings in Johnson & Johnson (NYSE:JNJ)

Journey Strategic Wealth LLC lowered its stake in Johnson & Johnson (NYSE:JNJ) by 5.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,881,849 shares of the company’s stock after selling 394,425 shares during the quarter. Johnson & Johnson comprises approximately 50.8% of Journey Strategic Wealth LLC’s holdings, making the stock its largest holding. Journey Strategic Wealth LLC’s holdings in Johnson & Johnson were worth $1,078,661,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the business. Aigen Investment Management LP raised its position in shares of Johnson & Johnson by 15.2% during the 4th quarter. Aigen Investment Management LP now owns 6,597 shares of the company’s stock valued at $1,034,000 after buying an additional 870 shares in the last quarter. Western Pacific Wealth Management LP raised its position in Johnson & Johnson by 6.3% in the 4th quarter. Western Pacific Wealth Management LP now owns 3,740 shares of the company’s stock worth $586,000 after purchasing an additional 221 shares during the period. Brandes Investment Partners LP raised its position in Johnson & Johnson by 25.5% in the 4th quarter. Brandes Investment Partners LP now owns 268,519 shares of the company’s stock worth $42,088,000 after purchasing an additional 54,639 shares during the period. Assetmark Inc. raised its position in Johnson & Johnson by 2.1% in the 4th quarter. Assetmark Inc. now owns 51,728 shares of the company’s stock worth $8,108,000 after purchasing an additional 1,060 shares during the period. Finally, Quest Partners LLC purchased a new stake in Johnson & Johnson in the 4th quarter worth about $1,157,000. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Johnson & Johnson Stock Performance

Shares of NYSE JNJ traded down $1.27 during midday trading on Thursday, reaching $152.23. The company had a trading volume of 830,891 shares, compared to its average volume of 7,287,731. The business’s 50-day simple moving average is $151.73 and its 200 day simple moving average is $155.11. The stock has a market cap of $366.37 billion, a P/E ratio of 9.57, a P/E/G ratio of 2.51 and a beta of 0.55. Johnson & Johnson has a 1 year low of $143.13 and a 1 year high of $175.97. The company has a current ratio of 1.17, a quick ratio of 0.94 and a debt-to-equity ratio of 0.36.

Johnson & Johnson (NYSE:JNJ) last posted 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. The business had revenue of $21.38 billion during the quarter, compared to analysts’ expectations of $21.39 billion. Johnson & Johnson had a net margin of 45.26% and a return on equity of 36.70%. The business’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter last year, the company posted $2.68 earnings per share. On average, analysts forecast that Johnson & Johnson will post 10.64 earnings per share for the current fiscal year.

Johnson & Johnson Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Investors of record on Tuesday, May 21st will be issued a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a dividend yield of 3.26%. The ex-dividend date of this dividend is Monday, May 20th. This is a boost from Johnson & Johnson’s previous quarterly dividend of $1.19. Johnson & Johnson’s dividend payout ratio (DPR) is 30.92%.

Wall Street Analysts Forecast Growth

JNJ has been the topic of a number of research analyst reports. StockNews.com upgraded shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, February 6th. Bank of America dropped 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. Royal Bank of Canada restated an “outperform” rating and issued a $175.00 target price on shares of Johnson & Johnson in a research note on Wednesday. HSBC upgraded shares of Johnson & Johnson from a “hold” rating to a “buy” rating and upped their target price for the stock from $169.00 to $170.00 in a research note on Thursday, April 18th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $215.00 target price on shares of Johnson & Johnson in a research note on Monday, May 6th. Seven equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $175.86.

About Johnson & Johnson

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.