AIA Group Ltd Decreases Holdings in Johnson & Johnson (NYSE:JNJ)

Key Points

• AIA Group Ltd reduced its stake in Johnson & Johnson by 32.3%, holding 32,673 shares worth approximately $5.42 million after selling 15,579 shares in the first quarter.
• Johnson & Johnson's recent earnings report showed an Earnings Per Share (EPS) of $2.77, exceeding estimates and reflecting a 5.8% year-over-year revenue increase.
• The company announced a quarterly dividend of $1.30 per share, with a current dividend yield of 3.0%, highlighting its ongoing commitment to returning value to shareholders.

AIA Group Ltd reduced its position in Johnson & Johnson (NYSE:JNJ - Free Report) by 32.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,673 shares of the company's stock after selling 15,579 shares during the period. AIA Group Ltd's holdings in Johnson & Johnson were worth $5,418,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Mainsail Asset Management LLC increased its position in shares of Johnson & Johnson by 8.5% during the 1st quarter. Mainsail Asset Management LLC now owns 2,084 shares of the company's stock valued at $346,000 after purchasing an additional 163 shares during the last quarter. Ballast Inc. increased its position in shares of Johnson & Johnson by 3.0% during the 1st quarter. Ballast Inc. now owns 23,207 shares of the company's stock valued at $3,849,000 after purchasing an additional 680 shares during the last quarter. Meridian Wealth Management LLC increased its position in shares of Johnson & Johnson by 1.5% during the 1st quarter. Meridian Wealth Management LLC now owns 43,399 shares of the company's stock valued at $7,197,000 after purchasing an additional 658 shares during the last quarter. Maia Wealth LLC increased its position in shares of Johnson & Johnson by 10.3% during the 1st quarter. Maia Wealth LLC now owns 2,812 shares of the company's stock valued at $434,000 after purchasing an additional 263 shares during the last quarter. Finally, Independent Advisor Alliance increased its position in shares of Johnson & Johnson by 2.7% during the 1st quarter. Independent Advisor Alliance now owns 96,029 shares of the company's stock valued at $15,925,000 after purchasing an additional 2,548 shares during the last quarter. 69.55% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on JNJ. Wall Street Zen lowered Johnson & Johnson from a "strong-buy" rating to a "buy" rating in a research report on Friday, July 18th. Leerink Partnrs lowered Johnson & Johnson from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 13th. Barclays lifted their price objective on Johnson & Johnson from $165.00 to $176.00 and gave the stock an "equal weight" rating in a report on Thursday, July 17th. Piper Sandler reissued an "overweight" rating on shares of Johnson & Johnson in a report on Thursday, July 17th. Finally, Morgan Stanley lifted their price objective on Johnson & Johnson from $171.00 to $176.00 and gave the stock an "equal weight" rating in a report on Thursday, July 17th. Nine analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $174.50.

Johnson & Johnson Price Performance

Shares of JNJ traded up $1.51 during trading hours on Wednesday, reaching $174.29. 5,872,136 shares of the company's stock traded hands, compared to its average volume of 9,044,614. The stock has a market cap of $419.75 billion, a PE ratio of 18.64, a price-to-earnings-growth ratio of 2.21 and a beta of 0.41. The company has a current ratio of 1.01, a quick ratio of 0.76 and a debt-to-equity ratio of 0.50. The firm's 50 day simple moving average is $160.00 and its 200-day simple moving average is $157.90. Johnson & Johnson has a 12 month low of $140.68 and a 12 month high of $174.76.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last issued its quarterly earnings results on Wednesday, July 16th. The company reported $2.77 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.68 by $0.09. The firm had revenue of $23.74 billion during 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 company's revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter last year, the company posted $2.82 EPS. Equities analysts expect 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. Investors of record on Tuesday, August 26th will be issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Tuesday, August 26th. Johnson & Johnson's dividend payout ratio (DPR) is currently 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.