Franklin Resources Inc. Has $1.72 Billion Stake in Johnson & Johnson (NYSE:JNJ)

Franklin Resources Inc. lessened its holdings in Johnson & Johnson (NYSE:JNJ) by 5.5% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,965,565 shares of the company’s stock after selling 640,523 shares during the period. Johnson & Johnson makes up approximately 0.8% of Franklin Resources Inc.’s portfolio, making the stock its 16th biggest holding. Franklin Resources Inc. owned 0.46% of Johnson & Johnson worth $1,718,743,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of JNJ. Norges Bank purchased a new position in shares of Johnson & Johnson in the 4th quarter worth approximately $4,071,642,000. International Assets Investment Management LLC boosted its stake in shares of 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 worth $327,647,000 after buying an additional 2,064,175 shares during the last quarter. Janney Montgomery Scott LLC purchased a new position in shares of Johnson & Johnson in the 4th quarter worth approximately $193,050,000. LSV Asset Management boosted its stake in shares of Johnson & Johnson by 89.9% in the 3rd quarter. LSV Asset Management now owns 2,251,770 shares of the company’s stock worth $350,713,000 after buying an additional 1,065,880 shares during the last quarter. Finally, abrdn plc lifted its stake in Johnson & Johnson by 104.1% in the fourth quarter. abrdn plc now owns 2,014,743 shares of the company’s stock valued at $315,791,000 after purchasing an additional 1,027,441 shares during the last quarter. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Trading Down 0.4 %

Shares of JNJ stock opened at $152.88 on Thursday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.94 and a current ratio of 1.17. Johnson & Johnson has a 52-week low of $143.13 and a 52-week high of $175.97. The company has a market capitalization of $367.93 billion, a PE ratio of 9.57, a price-to-earnings-growth ratio of 2.51 and a beta of 0.55. The business’s fifty day moving average is $151.73 and its 200 day moving average is $155.11.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings data 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. Johnson & Johnson had a return on equity of 36.70% and a net margin of 45.26%. The company had revenue of $21.38 billion for the quarter, compared to the consensus estimate of $21.39 billion. During the same quarter last year, the business posted $2.68 earnings per share. The firm’s revenue was up 2.3% compared to the same quarter last year. On average, equities research analysts anticipate that Johnson & Johnson will post 10.64 EPS for the current fiscal year.

Johnson & Johnson Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Investors of record on Tuesday, May 21st will be given a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.24%. The ex-dividend date of this dividend is Monday, May 20th. This is an increase from Johnson & Johnson’s previous quarterly dividend of $1.19. Johnson & Johnson’s dividend payout ratio (DPR) is 30.92%.

Analyst Ratings Changes

JNJ has been the subject of several research reports. Morgan Stanley reduced their price objective on Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating for the company in a report on Wednesday, April 17th. HSBC raised Johnson & Johnson from a “hold” rating to a “buy” rating and increased their price objective for the company from $169.00 to $170.00 in a report on Thursday, April 18th. StockNews.com raised Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Tuesday, February 6th. Royal Bank of Canada reissued an “outperform” rating and set a $175.00 price objective on shares of Johnson & Johnson in a report on Wednesday. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $215.00 price objective on shares of Johnson & Johnson in a report on Monday, May 6th. Seven research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $175.86.

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.