Johnson & Johnson (NYSE:JNJ) Holdings Trimmed by Close Asset Management Ltd

Close Asset Management Ltd cut its position in shares of Johnson & Johnson (NYSE:JNJ) by 1.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 93,893 shares of the company’s stock after selling 1,321 shares during the period. Close Asset Management Ltd’s holdings in Johnson & Johnson were worth $15,575,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Forbes J M & Co. LLP boosted its stake in Johnson & Johnson by 3.7% in the 1st quarter. Forbes J M & Co. LLP now owns 117,068 shares of the company’s stock valued at $19,415,000 after buying an additional 4,201 shares in the last quarter. Vestor Capital LLC raised its position in shares of Johnson & Johnson by 5,757.1% during the first quarter. Vestor Capital LLC now owns 121,653 shares of the company’s stock worth $20,175,000 after acquiring an additional 119,576 shares during the last quarter. Venturi Wealth Management LLC increased its holdings in Johnson & Johnson by 1.2% in the first quarter. Venturi Wealth Management LLC now owns 19,889 shares of the company’s stock valued at $3,298,000 after purchasing an additional 227 shares during the last quarter. SYM FINANCIAL Corp increased its holdings in Johnson & Johnson by 18.7% in the first quarter. SYM FINANCIAL Corp now owns 9,559 shares of the company’s stock valued at $1,585,000 after purchasing an additional 1,509 shares during the last quarter. Finally, Accredited Investors Inc. increased its holdings in Johnson & Johnson by 3.8% in the first quarter. Accredited Investors Inc. now owns 8,514 shares of the company’s stock valued at $1,412,000 after purchasing an additional 315 shares during the last quarter. 69.55% of the stock is owned by institutional investors.

Johnson & Johnson Stock Up 2.2%

Shares of NYSE:JNJ opened at $167.90 on Wednesday. Johnson & Johnson has a 1 year low of $140.68 and a 1 year high of $169.99. The company has a market cap of $403.99 billion, a PE ratio of 17.96, a P/E/G ratio of 2.09 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. The stock’s 50-day moving average is $154.29 and its 200 day moving average is $155.12.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings data on Wednesday, July 16th. The company reported $2.77 earnings per share 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 business had revenue of $23.74 billion for the quarter, compared to analysts’ expectations of $22.85 billion. During the same period in the previous year, the firm posted $2.82 EPS. The business’s revenue was up 5.8% on a year-over-year basis. Sell-side analysts anticipate that Johnson & Johnson will post 10.58 EPS for the current 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. This represents a $5.20 annualized dividend and a yield of 3.10%. The ex-dividend date is Tuesday, August 26th. Johnson & Johnson’s payout ratio is currently 55.61%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on JNJ shares. Guggenheim increased their price objective on Johnson & Johnson from $164.00 to $167.00 and gave the stock a “neutral” rating in a report on Thursday, July 17th. The Goldman Sachs Group upgraded Johnson & Johnson from a “neutral” rating to a “buy” rating and raised their price target for the company from $157.00 to $172.00 in a research note on Wednesday, April 9th. Piper Sandler restated an “overweight” rating on shares of Johnson & Johnson in a research note on Thursday, July 17th. Leerink Partners downgraded Johnson & Johnson from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $169.00 to $153.00 in a research note on Tuesday, May 13th. Finally, Morgan Stanley lifted their target price on Johnson & Johnson from $171.00 to $176.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 17th. Eleven investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $172.87.

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.