Douglas Lane & Associates LLC Increases Stake in Johnson & Johnson

Douglas Lane & Associates LLC has increased its stake in Johnson & Johnson (NYSE:JNJ - Free Report) by 1.1% during the fourth quarter, according to its latest filing with the SEC. Now, the institutional investor holds 599,386 shares of the company after adding an additional 6,526 shares during this period. This investment in Johnson & Johnson represents about 1.2% of Douglas Lane & Associates LLC's overall portfolio, ranking as its 21st largest holding. As of the end of the most recent quarter, these holdings were valued at approximately $86,683,000.

Several other hedge funds have also bought and sold shares of Johnson & Johnson. For instance, Vinva Investment Management Ltd raised its stake by 6.8% in the third quarter, owning 111,448 shares valued at $17,988,000 after acquiring an additional 7,110 shares. Similarly, Financial Counselors Inc. increased its holdings by 5.3%, now owning 185,093 shares worth $29,996,000 after obtaining 9,309 shares over the last quarter. Meridian Investment Counsel Inc. lifted its position by 19.6%, now holding 22,629 shares valued at $3,667,000 after buying an additional 3,710 shares. Moreover, Charles Schwab Investment Management Inc. saw a 0.6% increase in its position to 17,639,368 shares, valued at $2,858,543,000 following the purchase of 102,502 shares. Lastly, Lord Abbett & CO. LLC initiated a new position valued at approximately $69,859,000. Overall, institutional investors own 69.55% of Johnson & Johnson's stock.

Insider Transactions

In related news, Director Mark A. Weinberger bought 1,000 shares of Johnson & Johnson on December 12th at an average price of $147.22 per share, totaling $147,220. Following this transaction, he now directly owns 1,000 shares worth $147,220, indicating a notable increase in his ownership. This purchase was disclosed through a filing with the Securities & Exchange Commission. Interestingly, company insiders own about 0.16% of the total stock.

Analyst Opinions

Johnson & Johnson has garnered attention from various analysts recently. Cantor Fitzgerald maintained an "overweight" rating and set a target price of $215.00 for the stock. Meanwhile, Bank of America reiterated a "neutral" rating, with a price objective of $166.00. Guggenheim increased their target from $156.00 to $162.00 while maintaining a "neutral" stance. StockNews.com lowered their rating from "strong-buy" to "buy." Morgan Stanley also raised its price objective from $169.00 to $175.00, giving the stock an "equal weight" rating. Currently, seven analysts recommend holding the stock, while an equal number advocate for buying it. MarketBeat.com reports an average rating of "Moderate Buy" with a consensus price target of $174.71.

Stock Performance Overview

During trading on Wednesday, Johnson & Johnson's shares fell by $4.00, settling at $142.23. The trading volume was 6,437,406 shares, contrasting with the average volume of 6,856,921. The company's market capitalization is $342.44 billion, with a price-to-earnings ratio of 20.58 and a price-to-earnings-growth ratio of 2.52. The 50-day moving average stands at $150.75, while the 200-day moving average is $156.23. With a debt-to-equity ratio of 0.45, the quick ratio at 0.79, and a current ratio of 1.03, Johnson & Johnson has 12-month lows of $141.44 and highs of $168.85.

Recently, on October 15th, the company reported earnings of $2.42 per share, exceeding the analysts' expectations of $2.21 by $0.21. Their revenue for the quarter reached $22.47 billion, also surpassing estimates of $22.17 billion. Johnson & Johnson recorded a net margin of 19.14% and a return on equity of 35.45%. Compared to the same quarter last year, revenue rose by 5.2%. Analysts project that the company will report earnings of $9.94 per share for the current fiscal year.

Dividend Information

The company recently announced a quarterly dividend that will be distributed on March 4th. Shareholders of record on February 18th will receive a dividend of $1.24, which translates to an annualized dividend of $4.96 and a yield of 3.49%. The ex-dividend date falls on February 18th. Johnson & Johnson has a dividend payout ratio of 71.78%.

Company Overview

Johnson & Johnson, along with its subsidiaries, engages in a wide array of healthcare research, development, manufacturing, and sales globally. Its Innovative Medicine segment features products addressing various therapeutic areas, including immunology for conditions like rheumatoid arthritis, infectious diseases such as HIV/AIDS, neuroscience addressing mood disorders, oncology treatments for various cancers, and pulmonary hypertension medications. These products are distributed through various channels, including retailers, wholesalers, hospitals, and healthcare professionals for prescription use.

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