Commerce Bank Sells 7,422 Shares of Johnson & Johnson (NYSE:JNJ)

Key Points

• Commerce Bank reduced its holdings in Johnson & Johnson by 0.8%, selling 7,422 shares during Q1, bringing its total to 893,836 shares valued at approximately $148.2 million.
• Johnson & Johnson reported an earnings per share of $2.77 for the latest quarter, which exceeded analysts' expectations of $2.68, alongside a revenue increase of 5.8% year-over-year.
• The company declared a quarterly dividend of $1.30 per share, with a current dividend yield of 3.2% and a payout ratio of 55.61%.

Commerce Bank lessened its holdings in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 0.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 893,836 shares of the company's stock after selling 7,422 shares during the quarter. Johnson & Johnson makes up approximately 0.9% of Commerce Bank's investment portfolio, making the stock its 17th largest position. Commerce Bank's holdings in Johnson & Johnson were worth $148,234,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of JNJ. Conquis Financial LLC acquired a new stake in shares of Johnson & Johnson during the fourth quarter worth $33,000. Bernard Wealth Management Corp. bought a new position in Johnson & Johnson during the fourth quarter worth about $36,000. Highline Wealth Partners LLC raised its stake in Johnson & Johnson by 51.8% in the 1st quarter. Highline Wealth Partners LLC now owns 252 shares of the company's stock worth $42,000 after purchasing an additional 86 shares in the last quarter. von Borstel & Associates Inc. bought a new stake in Johnson & Johnson in the 1st quarter valued at about $49,000. Finally, Harvest Fund Management Co. Ltd acquired a new position in shares of Johnson & Johnson during the 1st quarter worth approximately $52,000. Institutional investors own 69.55% of the company's stock.

Johnson & Johnson Price Performance

Shares of NYSE:JNJ opened at $164.76 on Friday. Johnson & Johnson has a one year low of $140.68 and a one year high of $169.99. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.01 and a quick ratio of 0.76. The company has a market cap of $396.81 billion, a price-to-earnings ratio of 17.62, a PEG ratio of 2.13 and a beta of 0.41. The firm has a 50 day simple moving average of $157.18 and a 200 day simple moving average of $156.44.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last announced its quarterly earnings results on Wednesday, July 16th. The company reported $2.77 EPS for the quarter, beating analysts' consensus estimates of $2.68 by $0.09. Johnson & Johnson had a return on equity of 32.49% and a net margin of 25.00%. The company 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 company earned $2.82 EPS. Johnson & Johnson's revenue was up 5.8% compared to the same quarter last year. Research analysts predict that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

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 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 3.2%. Johnson & Johnson's dividend payout ratio is currently 55.61%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Wall Street Zen downgraded shares of Johnson & Johnson from a "strong-buy" rating to a "buy" rating in a research report on Friday, July 18th. Erste Group Bank upgraded Johnson & Johnson from a "hold" rating to a "buy" rating in a research note on Wednesday, July 23rd. Bank of America upped their target price on Johnson & Johnson from $161.00 to $175.00 and gave the company a "neutral" rating in a research report on Thursday, July 17th. Piper Sandler reissued an "overweight" rating on shares of Johnson & Johnson in a report on Thursday, July 17th. Finally, Benchmark raised Johnson & Johnson to a "strong-buy" rating in a research note on Thursday, April 24th. Nine investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Johnson & Johnson currently has an average rating of "Moderate Buy" and an average price target of $174.50.

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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