Newbridge Financial Services Group Inc. Has $790,000 Position in Johnson & Johnson (NYSE:JNJ)

Newbridge Financial Services Group Inc. trimmed its stake in shares of Johnson & Johnson (NYSE:JNJ) by 7.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,039 shares of the company’s stock after selling 400 shares during the quarter. Newbridge Financial Services Group Inc.’s holdings in Johnson & Johnson were worth $790,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in JNJ. Norges Bank bought a new stake in shares of Johnson & Johnson during the fourth quarter worth about $4,071,642,000. Wellington Management Group LLP grew its holdings in Johnson & Johnson by 16.4% during the 4th quarter. Wellington Management Group LLP now owns 24,019,725 shares of the company’s stock worth $3,764,852,000 after acquiring an additional 3,391,657 shares during the last quarter. International Assets Investment Management LLC increased its position in Johnson & Johnson by 7,875.8% in the 4th quarter. International Assets Investment Management LLC now owns 2,090,384 shares of the company’s stock valued at $327,647,000 after acquiring an additional 2,064,175 shares during the period. Janney Montgomery Scott LLC bought a new position in shares of Johnson & Johnson during the fourth quarter valued at $193,050,000. Finally, abrdn plc grew its stake in shares of Johnson & Johnson by 104.1% in the fourth quarter. abrdn plc now owns 2,014,743 shares of the company’s stock worth $315,791,000 after purchasing an additional 1,027,441 shares during the last quarter. Institutional investors and hedge funds own 69.55% of the company’s stock.

Johnson & Johnson Stock Down 0.2 %

Shares of NYSE JNJ opened at $145.65 on Wednesday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.17 and a quick ratio of 0.94. The company has a 50-day moving average price of $148.13 and a 200-day moving average price of $154.56. The stock has a market capitalization of $350.53 billion, a P/E ratio of 9.08, a P/E/G ratio of 2.43 and a beta of 0.53. Johnson & Johnson has a 1 year low of $143.13 and a 1 year high of $175.97.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings data on Tuesday, April 16th. The company reported $2.71 EPS for the quarter, topping the consensus estimate of $2.64 by $0.07. Johnson & Johnson had a return on equity of 36.70% and a net margin of 45.26%. The firm had revenue of $21.38 billion during the quarter, compared to the consensus estimate of $21.39 billion. During the same period in the prior year, the business posted $2.68 earnings per share. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. On average, equities research analysts forecast that Johnson & Johnson will post 10.63 EPS for the current fiscal year.

Johnson & Johnson Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 21st were paid a $1.24 dividend. This is a positive change from Johnson & Johnson’s previous quarterly dividend of $1.19. The ex-dividend date was Monday, May 20th. This represents a $4.96 annualized dividend and a dividend yield of 3.41%. Johnson & Johnson’s dividend payout ratio is presently 30.92%.

Analyst Upgrades and Downgrades

JNJ has been the subject of several analyst reports. Bank of America lowered their target price on Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating for the company in a research report on Wednesday, April 17th. HSBC raised Johnson & Johnson from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $169.00 to $170.00 in a research note on Thursday, April 18th. The Goldman Sachs Group initiated coverage on shares of Johnson & Johnson in a report on Thursday, May 30th. They set a “neutral” rating and a $160.00 price target for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $215.00 price objective on shares of Johnson & Johnson in a research note on Monday, May 6th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $175.00 target price on shares of Johnson & Johnson in a research note on Monday. Eight analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Johnson & Johnson presently has an average rating of “Hold” and a consensus price target of $174.07.

Johnson & Johnson Company 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.