Corebridge Financial Inc. Sells 26,421 Shares of Johnson & Johnson (NYSE:JNJ)

Corebridge Financial Inc. lessened its position in Johnson & Johnson (NYSE:JNJ - Free Report) by 4.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 553,347 shares of the company's stock after selling 26,421 shares during the period. Johnson & Johnson makes up about 0.4% of Corebridge Financial Inc.'s investment portfolio, making the stock its 23rd biggest holding. Corebridge Financial Inc.'s holdings in Johnson & Johnson were worth $80,025,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of JNJ. IFS Advisors LLC grew its position in shares of Johnson & Johnson by 138.9% in the 4th quarter. IFS Advisors LLC now owns 172 shares of the company's stock valued at $25,000 after purchasing an additional 100 shares during the period. Mountain Hill Investment Partners Corp. bought a new position in Johnson & Johnson in the fourth quarter valued at approximately $29,000. Bay Harbor Wealth Management LLC acquired a new position in shares of Johnson & Johnson in the fourth quarter valued at approximately $32,000. RPg Family Wealth Advisory LLC bought a new stake in shares of Johnson & Johnson during the third quarter worth $35,000. Finally, Runnymede Capital Advisors Inc. acquired a new stake in shares of Johnson & Johnson during the fourth quarter worth $38,000. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently weighed in on JNJ. Stifel Nicolaus reduced their target price on shares of Johnson & Johnson from $170.00 to $155.00 and set a "hold" rating for the company in a research note on Thursday, January 23rd. Raymond James reduced their price objective on Johnson & Johnson from $170.00 to $165.00 and set an "outperform" rating for the company in a research report on Thursday, January 23rd. Guggenheim reissued a "neutral" rating on shares of Johnson & Johnson in a research report on Monday, March 10th. StockNews.com raised shares of Johnson & Johnson from a "buy" rating to a "strong-buy" rating in a research note on Saturday, January 25th. Finally, Citigroup lowered their price objective on shares of Johnson & Johnson from $185.00 to $175.00 and set a "buy" rating on the stock in a report on Wednesday, December 11th. Nine investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Johnson & Johnson currently has a consensus rating of "Moderate Buy" and a consensus target price of $171.33.

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Insider Buying and Selling

In related news, VP Robert J. Decker sold 6,999 shares of Johnson & Johnson stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $165.88, for a total transaction of $1,160,994.12. Following the completion of the sale, the vice president now directly owns 21,001 shares of the company's stock, valued at approximately $3,483,645.88. This trade represents a 25.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Timothy Schmid sold 403 shares of the company's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $156.15, for a total value of $62,928.45. Following the completion of the transaction, the executive vice president now directly owns 15,098 shares in the company, valued at approximately $2,357,552.70. This represents a 2.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.16% of the stock is currently owned by insiders.

Johnson & Johnson Stock Performance

Johnson & Johnson stock traded up $1.44 during midday trading on Thursday, reaching $163.16. 902,645 shares of the company's stock were exchanged, compared to its average volume of 7,062,341. The stock's 50-day simple moving average is $158.04 and its 200 day simple moving average is $156.18. The firm has a market cap of $393.18 billion, a price-to-earnings ratio of 24.54, a P/E/G ratio of 2.56 and a beta of 0.47. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.86 and a current ratio of 1.11. Johnson & Johnson has a 52 week low of $140.68 and a 52 week high of $169.99.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last issued its earnings results on Wednesday, January 22nd. The company reported $2.04 EPS for the quarter, topping the consensus estimate of $1.99 by $0.05. Johnson & Johnson had a return on equity of 34.24% and a net margin of 18.20%. The company had revenue of $22.52 billion during the quarter, compared to the consensus estimate of $22.44 billion. During the same period in the previous year, the company posted $2.29 EPS. The firm's revenue for the quarter was up 5.3% compared to the same quarter last year. On average, analysts expect that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th were paid a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date of this dividend was Tuesday, February 18th. Johnson & Johnson's dividend payout ratio is presently 74.59%.

About Johnson & Johnson

Johnson & Johnson is a holding company, which engages in the research, development, manufacture, and sale of products in the healthcare field. It operates through the Innovative Medicine and MedTech segments. The Innovative Medicine segment focuses on immunology, infectious diseases, neuroscience, oncology, cardiovascular and metabolism, and pulmonary hypertension.