Corebridge Financial Inc. Has $80.03 Million Stake in Johnson & Johnson (NYSE:JNJ)

Corebridge Financial Inc. lessened its stake in shares of Johnson & Johnson (NYSE:JNJ) by 4.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 553,347 shares of the company’s stock after selling 26,421 shares during the period. Johnson & Johnson accounts for about 0.4% of Corebridge Financial Inc.’s portfolio, making the stock its 23rd biggest position. Corebridge Financial Inc.’s holdings in Johnson & Johnson were worth $80,025,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently modified their holdings of the company. MRP Capital Investments LLC increased its position in shares of Johnson & Johnson by 4.1% during the fourth quarter. MRP Capital Investments LLC now owns 1,640 shares of the company’s stock worth $237,000 after buying an additional 65 shares during the period. Werba Rubin Papier Wealth Management boosted its position in Johnson & Johnson by 3.3% during the fourth quarter. Werba Rubin Papier Wealth Management now owns 2,080 shares of the company’s stock valued at $301,000 after acquiring an additional 66 shares during the last quarter. Denali Advisors LLC grew its holdings in Johnson & Johnson by 1.3% during the 4th quarter. Denali Advisors LLC now owns 5,128 shares of the company’s stock worth $742,000 after acquiring an additional 67 shares during the period. Sage Mountain Advisors LLC lifted its stake in shares of Johnson & Johnson by 0.5% in the 4th quarter. Sage Mountain Advisors LLC now owns 14,564 shares of the company’s stock valued at $2,106,000 after purchasing an additional 67 shares during the period. Finally, Corepath Wealth Partners LLC boosted its position in shares of Johnson & Johnson by 3.7% during the 4th quarter. Corepath Wealth Partners LLC now owns 1,985 shares of the company’s stock valued at $287,000 after purchasing an additional 70 shares in the last quarter. Institutional investors own 69.55% of the company’s stock.

Insider Buying and Selling at Johnson & Johnson

In other Johnson & Johnson news, EVP Timothy Schmid sold 403 shares of the company’s stock in a transaction on Tuesday, February 18th. The stock was 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 owns 15,098 shares in the company, valued at $2,357,552.70. This represents a 2.60 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Robert J. Decker sold 6,999 shares of Johnson & Johnson stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $165.88, for a total value of $1,160,994.12. Following the sale, the vice president now owns 21,001 shares in the company, valued at $3,483,645.88. The trade was a 25.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.16% of the company’s stock.

Johnson & Johnson Stock Performance

Shares of Johnson & Johnson stock opened at $163.40 on Monday. Johnson & Johnson has a 52 week low of $140.68 and a 52 week high of $169.99. The company has a quick ratio of 0.86, a current ratio of 1.11 and a debt-to-equity ratio of 0.43. The business has a 50 day moving average price of $156.99 and a 200-day moving average price of $156.17. The company has a market cap of $393.76 billion, a PE ratio of 24.57, a price-to-earnings-growth ratio of 2.56 and a beta of 0.47.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings data on Wednesday, January 22nd. The company reported $2.04 earnings per share for the quarter, beating 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 business had revenue of $22.52 billion for the quarter, compared to analysts’ expectations of $22.44 billion. During the same period last year, the business earned $2.29 EPS. The business’s revenue was up 5.3% on a year-over-year basis. Equities analysts anticipate that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th were given a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date was Tuesday, February 18th. Johnson & Johnson’s payout ratio is 74.59%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. StockNews.com upgraded Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Saturday, January 25th. Guggenheim reiterated a “neutral” rating on shares of Johnson & Johnson in a research note on Monday, March 10th. Morgan Stanley cut their target price on shares of Johnson & Johnson from $175.00 to $163.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 23rd. Citigroup decreased their price target on shares of Johnson & Johnson from $185.00 to $175.00 and set a “buy” rating for the company in a research note on Wednesday, December 11th. Finally, Raymond James cut their price objective on shares of Johnson & Johnson from $170.00 to $165.00 and set an “outperform” rating on the stock in a research report on Thursday, January 23rd. Nine investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $171.33.

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.