Ring Mountain Capital LLC Decreases Stock Position in Johnson & Johnson (NYSE:JNJ)

Ring Mountain Capital LLC cut its holdings in Johnson & Johnson (NYSE:JNJ) by 3.3% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,123 shares of the company’s stock after selling 73 shares during the period. Ring Mountain Capital LLC’s holdings in Johnson & Johnson were worth $352,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Johnson & Johnson by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 232,792,559 shares of the company’s stock valued at $33,666,460,000 after purchasing an additional 1,772,706 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Johnson & Johnson by 2.8% during the 4th quarter. Geode Capital Management LLC now owns 57,667,920 shares of the company’s stock valued at $8,321,881,000 after acquiring an additional 1,561,036 shares during the last quarter. Northern Trust Corp increased its stake in shares of Johnson & Johnson by 12.3% during the 4th quarter. Northern Trust Corp now owns 30,813,175 shares of the company’s stock valued at $4,456,201,000 after acquiring an additional 3,363,235 shares during the last quarter. Norges Bank acquired a new position in shares of Johnson & Johnson during the 4th quarter valued at about $4,390,037,000. Finally, Wellington Management Group LLP grew its holdings in shares of Johnson & Johnson by 1.8% during the 4th quarter. Wellington Management Group LLP now owns 24,356,572 shares of the company’s stock worth $3,522,447,000 after purchasing an additional 431,205 shares during the period. Institutional investors and hedge funds own 69.55% of the company’s stock.

Johnson & Johnson Stock Up 1.1%

Shares of Johnson & Johnson stock opened at $164.80 on Friday. Johnson & Johnson has a 1 year low of $140.68 and a 1 year high of $169.99. The business has a 50-day moving average of $154.10 and a two-hundred day moving average of $154.84. The company has a market capitalization of $396.52 billion, a P/E ratio of 17.63, a price-to-earnings-growth ratio of 2.21 and a beta of 0.41. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.26 and a quick ratio of 1.03.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings results on Wednesday, July 16th. The company reported $2.77 EPS for the quarter, beating the consensus estimate of $2.68 by $0.09. Johnson & Johnson had a return on equity of 33.07% and a net margin of 25.00%. The firm had revenue of $23.74 billion during the quarter, compared to analysts’ expectations of $22.85 billion. During the same period in the prior year, the firm posted $2.82 earnings per share. The business’s quarterly revenue was up 5.8% compared to the same quarter last year. As a group, equities analysts predict that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 9th. Stockholders 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 annualized dividend and a dividend yield of 3.16%. Johnson & Johnson’s payout ratio is 55.61%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on JNJ shares. Piper Sandler reiterated an “overweight” rating on shares of Johnson & Johnson in a report on Thursday. Sanford C. Bernstein reiterated a “market perform” rating on shares of Johnson & Johnson in a research note on Wednesday, April 16th. Raymond James Financial reduced their target price on Johnson & Johnson from $165.00 to $162.00 and set an “outperform” rating for the company in a research note on Monday, April 14th. Bank of America upped their price target on Johnson & Johnson from $161.00 to $175.00 and gave the company a “neutral” rating in a research report on Thursday. Finally, UBS Group reaffirmed a “buy” rating and issued a $190.00 target price (up from $180.00) on shares of Johnson & Johnson in a research report on Thursday. Eleven investment analysts have rated the stock with a hold rating, nine have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $174.11.

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.