Cigna Investments Inc. New Cuts Stock Holdings in Johnson & Johnson $JNJ

Cigna Investments Inc. New decreased its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 1.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,279 shares of the company’s stock after selling 449 shares during the quarter. Johnson & Johnson accounts for approximately 0.7% of Cigna Investments Inc. New’s portfolio, making the stock its 20th largest position. Cigna Investments Inc. New’s holdings in Johnson & Johnson were worth $4,026,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of JNJ. Nuveen LLC purchased a new position in shares of Johnson & Johnson during the first quarter worth about $1,369,188,000. GAMMA Investing LLC grew its holdings in shares of Johnson & Johnson by 24,450.4% during the first quarter. GAMMA Investing LLC now owns 7,215,367 shares of the company’s stock worth $1,196,596,000 after purchasing an additional 7,185,977 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Johnson & Johnson by 26.4% during the first quarter. Bank of New York Mellon Corp now owns 23,182,464 shares of the company’s stock worth $3,844,580,000 after purchasing an additional 4,842,582 shares in the last quarter. Janus Henderson Group PLC grew its holdings in shares of Johnson & Johnson by 134.5% during the fourth quarter. Janus Henderson Group PLC now owns 7,948,508 shares of the company’s stock worth $1,149,536,000 after purchasing an additional 4,559,147 shares in the last quarter. Finally, Pacer Advisors Inc. grew its holdings in shares of Johnson & Johnson by 1,382.0% during the first quarter. Pacer Advisors Inc. now owns 3,030,084 shares of the company’s stock worth $502,509,000 after purchasing an additional 2,825,626 shares in the last quarter. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on JNJ shares. Barclays upped their target price on Johnson & Johnson from $165.00 to $176.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 17th. Piper Sandler reissued an “overweight” rating on shares of Johnson & Johnson in a research report on Thursday, July 17th. Bank of America increased their price objective on Johnson & Johnson from $161.00 to $175.00 and gave the stock a “neutral” rating in a report on Thursday, July 17th. Leerink Partners downgraded Johnson & Johnson from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $169.00 to $153.00 in a report on Tuesday, May 13th. Finally, Wall Street Zen cut Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 18th. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $176.29.

Johnson & Johnson Stock Up 0.9%

Shares of JNJ opened at $177.10 on Monday. The business’s 50 day moving average is $165.99 and its 200 day moving average is $160.06. The company has a market capitalization of $426.52 billion, a PE ratio of 18.94, a price-to-earnings-growth ratio of 2.26 and a beta of 0.40. Johnson & Johnson has a 12-month low of $140.68 and a 12-month high of $181.16. The company has a current ratio of 1.01, a quick ratio of 0.76 and a debt-to-equity ratio of 0.50.

Johnson & Johnson (NYSE:JNJ) last issued its earnings results on Wednesday, July 16th. The company reported $2.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.68 by $0.09. The company had revenue of $23.74 billion for the quarter, compared to the consensus estimate of $22.85 billion. Johnson & Johnson had a return on equity of 32.49% and a net margin of 25.00%.The firm’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter last year, the company earned $2.82 EPS. Johnson & Johnson has set its FY 2025 guidance at 10.800-10.900 EPS. Research analysts expect that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 9th. Shareholders of record on Tuesday, August 26th will be paid a $1.30 dividend. The ex-dividend date of this dividend is Tuesday, August 26th. This represents a $5.20 dividend on an annualized basis and a yield of 2.9%. Johnson & Johnson’s payout ratio is presently 55.61%.

Johnson & Johnson Profile

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.