iA Global Asset Management Inc. Lowers Stock Holdings in Johnson & Johnson $JNJ

iA Global Asset Management Inc. lowered its stake in shares of Johnson & Johnson (NYSE:JNJ) by 17.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 295,679 shares of the company’s stock after selling 61,103 shares during the quarter. iA Global Asset Management Inc.’s holdings in Johnson & Johnson were worth $45,165,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in JNJ. Clark Asset Management LLC lifted its position in Johnson & Johnson by 51.6% in the second quarter. Clark Asset Management LLC now owns 8,884 shares of the company’s stock valued at $1,357,000 after purchasing an additional 3,025 shares during the period. Apexium Financial LP lifted its position in Johnson & Johnson by 10.7% in the first quarter. Apexium Financial LP now owns 23,989 shares of the company’s stock valued at $3,978,000 after purchasing an additional 2,310 shares during the period. Avanza Fonder AB lifted its position in Johnson & Johnson by 2.9% in the second quarter. Avanza Fonder AB now owns 234,647 shares of the company’s stock valued at $35,842,000 after purchasing an additional 6,566 shares during the period. Tokio Marine Asset Management Co. Ltd. lifted its position in Johnson & Johnson by 7.0% in the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 73,350 shares of the company’s stock valued at $12,164,000 after purchasing an additional 4,816 shares during the period. Finally, Klingman & Associates LLC lifted its position in Johnson & Johnson by 13.4% in the first quarter. Klingman & Associates LLC now owns 16,984 shares of the company’s stock valued at $2,817,000 after purchasing an additional 2,005 shares during the period. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on JNJ shares. UBS Group raised their price objective on shares of Johnson & Johnson from $190.00 to $214.00 and gave the company a “buy” rating in a research report on Tuesday, October 14th. Bank of America lifted their price target on shares of Johnson & Johnson from $198.00 to $204.00 and gave the company a “neutral” rating in a research report on Wednesday, October 15th. Piper Sandler reiterated an “overweight” rating on shares of Johnson & Johnson in a research report on Thursday, July 17th. Daiwa America upgraded shares of Johnson & Johnson from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 20th. Finally, Daiwa Capital Markets upgraded shares of Johnson & Johnson from a “neutral” rating to an “outperform” rating and set a $203.00 price target for the company in a research report on Monday, October 20th. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $199.05.

Johnson & Johnson Trading Down 0.0%

Shares of JNJ opened at $189.02 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.07 and a quick ratio of 0.80. The firm has a 50 day simple moving average of $183.28 and a 200-day simple moving average of $167.66. Johnson & Johnson has a 1-year low of $140.68 and a 1-year high of $194.48. The stock has a market cap of $455.40 billion, a price-to-earnings ratio of 18.25, a price-to-earnings-growth ratio of 2.19 and a beta of 0.40.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings data on Wednesday, August 30th. The company reported $2.26 earnings per share for the quarter. Johnson & Johnson had a net margin of 27.26% and a return on equity of 32.73%. The business had revenue of $24.02 billion during the quarter. Equities analysts forecast that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 9th. Shareholders of record on Tuesday, November 25th will be paid a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend is Tuesday, November 25th. Johnson & Johnson’s payout ratio is presently 50.19%.

Insider Buying and Selling

In other Johnson & Johnson news, EVP Jennifer L. Taubert sold 56,471 shares of Johnson & Johnson stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $177.81, for a total value of $10,041,108.51. Following the completion of the sale, the executive vice president directly owned 178,013 shares of the company’s stock, valued at approximately $31,652,491.53. The trade was a 24.08% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.16% of the company’s stock.

Johnson & Johnson Profile

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.