In a recent filing with the Securities and Exchange Commission, FourThought Financial Partners LLC announced a **6.5% reduction** in its holdings of **Johnson & Johnson (NYSE: JNJ)** during the second quarter of 2023. The firm now owns **15,533 shares** of the healthcare giant after selling **1,085 shares** in that period, with a total value of approximately **$2,373,000**.
Other institutional investors have also made notable adjustments to their positions in Johnson & Johnson. For instance, **Southeast Asset Advisors LLC** increased its holdings by **7.4%**, now owning **41,987 shares** valued at **$6,414,000** after acquiring an additional **2,883 shares**. Similarly, **Columbia Bank** raised its stake by **4.5%**, bringing its total to **22,727 shares** worth **$3,541,000** after purchasing **976 shares**.
A significant move came from **Laurel Wealth Advisors LLC**, which dramatically increased its holdings by **15,040.6%**, now owning **7,420,699 shares** valued at over **$1.1 billion**. Other firms, including **RiverFront Investment Group LLC** and **One Charles Private Wealth Services LLC**, also adjusted their positions, with RiverFront increasing its stake by **41.2%** and One Charles by **8.4%**.
As of now, institutional investors and hedge funds collectively own **69.55%** of Johnson & Johnson’s stock.
Stock Performance and Dividends
On Tuesday, the stock opened at **$206.07**. Over the past year, Johnson & Johnson’s shares have traded between a low of **$140.68** and a high of **$206.94**. The company maintains a **market capitalization** of around **$496.48 billion**, with a **price-to-earnings ratio** of **19.89** and a **dividend yield** of **2.5%**.
In addition to its stock performance, Johnson & Johnson recently declared a quarterly dividend of **$1.30 per share**, which will be paid on **December 9, 2023**. Stockholders of record on **November 25, 2023**, will be eligible for this payment, reflecting an annualized dividend of **$5.20**. The company’s **dividend payout ratio** currently stands at **50.19%**.
Analyst Ratings and Insider Activity
Several analysts have recently updated their ratings on Johnson & Johnson shares. On **October 10, 2023**, **Royal Bank of Canada** reiterated an “outperform” rating with a price target of **$209.00**. **Citigroup** raised its target from **$213.00** to **$215.00** and rated the stock as a “buy.” **Daiwa America** upgraded its rating from “hold” to “strong-buy.”
Overall, **four analysts** have rated the stock as a strong buy, while **thirteen** have assigned a buy rating, and **nine** have rated it as hold. The consensus rating is classified as “Moderate Buy,” with an average target price of **$201.05**, according to **MarketBeat.com**.
In insider activity, **Jennifer L. Taubert**, Executive Vice President, sold **56,471 shares** of the company on **September 4, 2023**, for approximately **$10 million**, reflecting a **24.08%** decrease in her holdings. Following this transaction, she retains **178,013 shares** valued at about **$31.65 million**.
Johnson & Johnson operates as a holding company engaged in the research, development, manufacture, and sale of healthcare products across various segments, including **Innovative Medicine** and **MedTech**.
