American pharmaceutical giant Johnson & Johnson (JNJ) stock dropped over 7% yesterday and remains under pressure in pre-market trading after a U.S. bankruptcy judge rejected its $10 billion talc settlement plan for the third time. The ruling blocks the company’s latest attempt to resolve lawsuits alleging its talc products cause ovarian cancer. Despite the setback, TD Cowen analyst Joshua Jennings expects any stock decline from this news to be temporary. He reiterated a Buy rating on JNJ with a $185 price target. With this in mind, it’s worth looking at who owns JNJ.
Now, according to TipRanks’ ownership page, public companies and individual investors own 45.36% of JNJ. They are followed by ETFs, mutual funds, other institutional investors, and insiders at 21.43%, 18.79%, 14.38%, and 0.04%, respectively.
Digging Deeper into JNJ’s Ownership Structure
Looking closely at top shareholders, Vanguard owns the highest stake in JNJ at 8.65%. Next up is Vanguard Index Funds, which holds a 6.81% stake in the company.
Among the top ETF holders, the Vanguard Total Stock Market ETF (VTI) owns a 3.15% stake in Johnson & Johnson stock, followed by the Vanguard S&P 500 ETF (VOO) with a 2.77% stake.
Moving to Mutual funds, Vanguard Index Funds holds about 6.81% of JNJ. Meanwhile, Fidelity Concord Street Trust owns 1.63% of the stock.
Is JNJ a Buy or Sell?
According to TipRanks, JNJ stock has received a Moderate Buy consensus rating, with five Buys and eight Holds assigned in the last three months. The average share price target for JNJ is $167.36, which is almost similar to the current level. Year-to-date, JNJ stock has gained nearly 15%.
Conclusion
TipRanks’ Ownership Tab provides valuable insights into the category-wise ownership structure of the company, enabling investors to make well-informed investment decisions.