Lord Abbett & CO. LLC Has $264.61 Million Stake in Johnson & Johnson (NYSE:JNJ)

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Lord Abbett & CO. LLC lowered its holdings in Johnson & Johnson (NYSE:JNJ) by 7.4% in the fourth quarter, HoldingsChannel reports. The firm owned 2,050,436 shares of the company’s stock after selling 163,147 shares during the period. Johnson & Johnson comprises approximately 1.0% of Lord Abbett & CO. LLC’s investment portfolio, making the stock its 8th largest position. Lord Abbett & CO. LLC’s holdings in Johnson & Johnson were worth $264,609,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in JNJ. Vanguard Group Inc. grew its position in Johnson & Johnson by 1.5% during the third quarter. Vanguard Group Inc. now owns 213,433,449 shares of the company’s stock valued at $29,490,100,000 after buying an additional 3,235,861 shares during the period. Vanguard Group Inc boosted its position in shares of Johnson & Johnson by 1.5% during the third quarter. Vanguard Group Inc now owns 213,433,449 shares of the company’s stock worth $29,490,100,000 after acquiring an additional 3,235,861 shares during the last quarter. BlackRock Inc. boosted its position in shares of Johnson & Johnson by 1.9% during the fourth quarter. BlackRock Inc. now owns 182,903,344 shares of the company’s stock worth $23,603,679,000 after acquiring an additional 3,486,924 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its position in shares of Johnson & Johnson by 11,576.1% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 74,757,633 shares of the company’s stock worth $579,000 after acquiring an additional 74,117,373 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Johnson & Johnson by 8.2% during the fourth quarter. Geode Capital Management LLC now owns 36,364,874 shares of the company’s stock worth $4,685,372,000 after acquiring an additional 2,741,351 shares during the last quarter. Institutional investors own 66.90% of the company’s stock.

In other news, Director Marillyn A. Hewson acquired 3,000 shares of the company’s stock in a transaction dated Tuesday, June 11th. The shares were bought at an average price of $139.68 per share, with a total value of $419,040.00. Following the purchase, the director now owns 3,000 shares of the company’s stock, valued at $419,040. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.23% of the company’s stock.

Shares of NYSE:JNJ opened at $141.68 on Thursday. The stock has a market cap of $371.12 billion, a P/E ratio of 17.32, a P/E/G ratio of 2.42 and a beta of 0.70. The company has a current ratio of 1.44, a quick ratio of 1.13 and a debt-to-equity ratio of 0.47. Johnson & Johnson has a one year low of $120.11 and a one year high of $148.99.

Johnson & Johnson (NYSE:JNJ) last issued its earnings results on Tuesday, April 16th. The company reported $2.10 EPS for the quarter, topping the consensus estimate of $2.03 by $0.07. Johnson & Johnson had a return on equity of 36.29% and a net margin of 17.99%. The company had revenue of $20.02 billion during the quarter, compared to analyst estimates of $19.55 billion. During the same quarter last year, the firm earned $2.06 EPS. The business’s revenue was up .1% on a year-over-year basis. On average, equities analysts forecast that Johnson & Johnson will post 8.6 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 11th. Shareholders of record on Tuesday, May 28th were given a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date of this dividend was Friday, May 24th. This is a positive change from Johnson & Johnson’s previous quarterly dividend of $0.90. Johnson & Johnson’s payout ratio is 46.45%.

JNJ has been the topic of a number of recent research reports. Goldman Sachs Group started coverage on shares of Johnson & Johnson in a research note on Tuesday, May 28th. They set a “buy” rating on the stock. Zacks Investment Research raised shares of Johnson & Johnson from a “hold” rating to a “buy” rating and set a $155.00 target price on the stock in a research note on Wednesday, March 27th. Morgan Stanley raised their price target on shares of Johnson & Johnson from $134.00 to $145.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 17th. Citigroup raised their price target on shares of Johnson & Johnson from $139.00 to $147.00 and gave the stock a “neutral” rating in a research note on Monday, February 25th. Finally, Credit Suisse Group raised their price target on shares of Johnson & Johnson from $152.00 to $156.00 and gave the stock an “outperform” rating in a research note on Thursday, May 16th. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $147.30.

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Johnson & Johnson Profile

Johnson & Johnson, together with its subsidiaries, researches and develops, manufactures, and sells various products in the health care field worldwide. It operates in three segments: Consumer, Pharmaceutical, and Medical Devices. The Consumer segment offers baby care products under the JOHNSON'S brand; oral care products under the LISTERINE brand; beauty products under the AVEENO, CLEAN & CLEAR, DABAO, JOHNSON'S Adult, LE PETITE MARSEILLAIS, NEUTROGENA, and OGX brands; over-the-counter medicines, including acetaminophen products under the TYLENOL brand; cold, flu, and allergy products under the SUDAFED brand; allergy products under the BENADRYL and ZYRTEC brands; ibuprofen products under the MOTRIN IB brand; and acid reflux products under the PEPCID brand.

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

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