Beacon Investment Advisory Services Inc. Sells 9,361 Shares of Johnson & Johnson (NYSE:JNJ)

Beacon Investment Advisory Services Inc. decreased its stake in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 7.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 122,077 shares of the company's stock after selling 9,361 shares during the period. Beacon Investment Advisory Services Inc.'s holdings in Johnson & Johnson were worth $20,245,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in JNJ. Geode Capital Management LLC boosted its holdings in Johnson & Johnson by 2.8% in 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 purchasing an additional 1,561,036 shares during the period. Northern Trust Corp lifted its holdings 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 worth $4,456,201,000 after acquiring an additional 3,363,235 shares during the period. Norges Bank acquired a new position in Johnson & Johnson during the 4th quarter worth approximately $4,390,037,000. Wellington Management Group LLP lifted its stake in Johnson & Johnson by 1.8% in the 4th quarter. Wellington Management Group LLP now owns 24,356,572 shares of the company's stock valued at $3,522,447,000 after purchasing an additional 431,205 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Johnson & Johnson by 26.4% in the 1st quarter. Bank of New York Mellon Corp now owns 23,182,464 shares of the company's stock valued at $3,844,580,000 after purchasing an additional 4,842,582 shares during the last quarter. Institutional investors own 69.55% of the company's stock.

Johnson & Johnson Trading Up 1.4%

NYSE:JNJ traded up $2.23 during midday trading on Tuesday, reaching $166.59. 3,656,048 shares of the stock traded hands, compared to its average volume of 8,124,329. The company has a fifty day moving average of $154.29 and a 200 day moving average of $155.12. Johnson & Johnson has a 12 month low of $140.68 and a 12 month high of $169.99. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.03 and a current ratio of 1.26. The stock has a market capitalization of $400.83 billion, a P/E ratio of 17.82, a PEG ratio of 2.08 and a beta of 0.41.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last issued its quarterly earnings data on Wednesday, July 16th. The company reported $2.77 EPS for the quarter, topping the consensus estimate of $2.68 by $0.09. The business had revenue of $23.74 billion during the quarter, compared to analyst estimates of $22.85 billion. Johnson & Johnson had a net margin of 25.00% and a return on equity of 33.07%. The company's revenue for the quarter was up 5.8% on a year-over-year basis. During the same period in the prior year, the business earned $2.82 EPS. On average, research analysts predict 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 given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 3.12%. The ex-dividend date is Tuesday, August 26th. Johnson & Johnson's dividend payout ratio (DPR) is 55.61%.

Analyst Upgrades and Downgrades

JNJ has been the subject of several recent analyst reports. Leerink Partners cut shares of Johnson & Johnson from an "outperform" rating to a "market perform" rating and decreased their price objective for the stock from $169.00 to $153.00 in a research report on Tuesday, May 13th. Piper Sandler restated an "overweight" rating on shares of Johnson & Johnson in a report on Thursday. Sanford C. Bernstein reaffirmed a "market perform" rating on shares of Johnson & Johnson in a research note on Wednesday, April 16th. Benchmark raised shares of Johnson & Johnson to a "strong-buy" rating in a research note on Thursday, April 24th. Finally, Leerink Partnrs lowered shares of Johnson & Johnson from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 13th. Eleven research 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. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $172.87.

About Johnson & Johnson

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.

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