Atlantic Union Bankshares Corp Cuts Stock Holdings in Johnson & Johnson (NYSE:JNJ)

Atlantic Union Bankshares Corp cut its holdings in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 3.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 72,356 shares of the company's stock after selling 2,333 shares during the period. Atlantic Union Bankshares Corp's holdings in Johnson & Johnson were worth $11,999,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in JNJ. Brighton Jones LLC increased its holdings in Johnson & Johnson by 13.9% during the 4th quarter. Brighton Jones LLC now owns 51,876 shares of the company's stock worth $7,502,000 after purchasing an additional 6,332 shares in the last quarter. Hudson Value Partners LLC grew its position in shares of Johnson & Johnson by 2.5% in the 4th quarter. Hudson Value Partners LLC now owns 41,403 shares of the company's stock valued at $5,648,000 after acquiring an additional 1,022 shares during the period. Washington Trust Bank grew its position in shares of Johnson & Johnson by 4.5% in the 4th quarter. Washington Trust Bank now owns 19,163 shares of the company's stock valued at $2,771,000 after acquiring an additional 828 shares during the period. Millstone Evans Group LLC acquired a new position in Johnson & Johnson in the 4th quarter valued at about $1,449,000. Finally, ZEGA Investments LLC acquired a new position in Johnson & Johnson in the 4th quarter valued at about $945,000. 69.55% of the stock is currently owned by institutional investors.

Johnson & Johnson Price Performance

JNJ traded up $2.86 on Tuesday, reaching $167.22. The stock had a trading volume of 5,003,485 shares, compared to its average volume of 8,130,207. Johnson & Johnson has a fifty-two week low of $140.68 and a fifty-two week high of $169.99. The firm has a 50-day moving average of $154.29 and a 200-day moving average of $155.12. The company has a current ratio of 1.26, a quick ratio of 1.03 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $402.33 billion, a price-to-earnings ratio of 17.87, a price-to-earnings-growth ratio of 2.08 and a beta of 0.41.

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 the consensus estimate of $2.68 by $0.09. The firm had revenue of $23.74 billion for the quarter, compared to analyst estimates of $22.85 billion. Johnson & Johnson had a return on equity of 33.07% and a net margin of 25.00%. The company's revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.82 earnings per share. As a group, sell-side analysts anticipate that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 9th. Stockholders of record on Tuesday, August 26th will be issued a dividend of $1.30 per share. The ex-dividend date is Tuesday, August 26th. This represents a $5.20 annualized dividend and a dividend yield of 3.11%. Johnson & Johnson's dividend payout ratio is 55.61%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on JNJ shares. Leerink Partnrs downgraded shares of Johnson & Johnson from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 13th. Raymond James Financial decreased their price target on shares of Johnson & Johnson from $165.00 to $162.00 and set an "outperform" rating on the stock in a research note on Monday, April 14th. Morgan Stanley upped their price target on shares of Johnson & Johnson from $171.00 to $176.00 and gave the company an "equal weight" rating in a research note on Thursday, July 17th. Sanford C. Bernstein restated a "market perform" rating on shares of Johnson & Johnson in a research note on Wednesday, April 16th. Finally, Bank of America boosted their price target on Johnson & Johnson from $161.00 to $175.00 and gave the company a "neutral" rating in a research note on Thursday, July 17th. Eleven investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $172.87.

Johnson & Johnson Company 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.