Allstate Corp Sells 1,441 Shares of Johnson & Johnson (NYSE:JNJ)

Allstate Corp decreased its holdings in Johnson & Johnson (NYSE:JNJFree Report) by 16.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,272 shares of the company’s stock after selling 1,441 shares during the quarter. Allstate Corp’s holdings in Johnson & Johnson were worth $1,140,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Annis Gardner Whiting Capital Advisors LLC boosted its holdings in shares of Johnson & Johnson by 6.2% in the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 8,510 shares of the company’s stock worth $1,334,000 after buying an additional 496 shares during the last quarter. Frazier Financial Advisors LLC purchased a new position in Johnson & Johnson during the fourth quarter valued at approximately $110,000. Tidemark LLC purchased a new position in Johnson & Johnson during the fourth quarter valued at approximately $338,000. Sand Hill Global Advisors LLC lifted its holdings in Johnson & Johnson by 0.7% during the fourth quarter. Sand Hill Global Advisors LLC now owns 58,702 shares of the company’s stock valued at $9,201,000 after purchasing an additional 405 shares in the last quarter. Finally, Pzena Investment Management LLC lifted its holdings in Johnson & Johnson by 0.6% during the fourth quarter. Pzena Investment Management LLC now owns 637,662 shares of the company’s stock valued at $99,947,000 after purchasing an additional 3,645 shares in the last quarter. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Stock Down 0.8 %

NYSE:JNJ traded down $1.15 during mid-day trading on Friday, reaching $148.55. The company’s stock had a trading volume of 1,890,501 shares, compared to its average volume of 7,304,167. Johnson & Johnson has a 1 year low of $143.13 and a 1 year high of $175.97. The stock has a fifty day moving average of $151.53 and a 200-day moving average of $155.07. The firm has a market capitalization of $357.51 billion, a PE ratio of 9.26, a price-to-earnings-growth ratio of 2.55 and a beta of 0.55. The company has a quick ratio of 0.94, a current ratio of 1.17 and a debt-to-equity ratio of 0.36.

Johnson & Johnson (NYSE:JNJGet Free Report) last released its quarterly earnings results on Tuesday, April 16th. The company reported $2.71 EPS for the quarter, beating the consensus estimate 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 analyst estimates of $21.39 billion. During the same period in the prior year, the firm posted $2.68 earnings per share. The company’s quarterly revenue was up 2.3% on a year-over-year basis. Equities research analysts forecast that Johnson & Johnson will post 10.64 earnings per share for the current year.

Johnson & Johnson Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 21st will be issued a dividend of $1.24 per share. The ex-dividend date is Monday, May 20th. This represents a $4.96 annualized dividend and a dividend yield of 3.34%. This is an increase from Johnson & Johnson’s previous quarterly dividend of $1.19. Johnson & Johnson’s dividend payout ratio is 30.92%.

Analysts Set New Price Targets

JNJ has been the topic of several analyst reports. Morgan Stanley lowered their price target on shares of Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 17th. HSBC upgraded shares of Johnson & Johnson from a “hold” rating to a “buy” rating and lifted their price objective for the company from $169.00 to $170.00 in a research report on Thursday, April 18th. Royal Bank of Canada reiterated an “outperform” rating and set a $175.00 price objective on shares of Johnson & Johnson in a research report on Wednesday. Bank of America reduced their price objective on shares of Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 17th. Finally, StockNews.com upgraded shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, February 6th. Seven analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $175.86.

Read Our Latest Stock Analysis on Johnson & Johnson

Johnson & Johnson Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Johnson & Johnson (NYSE:JNJ)

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