Condor Capital Management Decreases Stock Holdings in Johnson & Johnson (NYSE:JNJ)

Key Points

• Condor Capital Management reduced its stake in Johnson & Johnson by 31.9%, selling 6,432 shares in the 1st quarter, resulting in ownership of 13,750 shares valued at $2,280,000.
• Johnson & Johnson reported $2.77 EPS for the quarter, exceeding estimates, with a revenue of $23.74 billion, representing a 5.8% year-over-year increase.
• The company declared a $1.30 quarterly dividend with a 3.0% yield, and analysts have a consensus target price of around $174.50, indicating a moderate buy sentiment.

Condor Capital Management reduced its holdings in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 31.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,750 shares of the company's stock after selling 6,432 shares during the quarter. Condor Capital Management's holdings in Johnson & Johnson were worth $2,280,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Highline Wealth Partners LLC boosted its stake in shares of Johnson & Johnson by 51.8% in the first quarter. Highline Wealth Partners LLC now owns 252 shares of the company's stock valued at $42,000 after purchasing an additional 86 shares during the period. von Borstel & Associates Inc. purchased a new position in shares of Johnson & Johnson in the first quarter valued at $49,000. Harvest Fund Management Co. Ltd purchased a new position in shares of Johnson & Johnson in the first quarter valued at $52,000. Capital A Wealth Management LLC purchased a new position in shares of Johnson & Johnson in the fourth quarter valued at $50,000. Finally, Accredited Wealth Management LLC purchased a new position in shares of Johnson & Johnson in the fourth quarter valued at $58,000. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Johnson & Johnson Stock Performance

Shares of JNJ opened at $173.40 on Friday. The firm has a 50-day moving average price of $159.26 and a 200 day moving average price of $157.44. The firm has a market capitalization of $417.61 billion, a PE ratio of 18.55, a P/E/G ratio of 2.18 and a beta of 0.41. The company has a quick ratio of 0.76, a current ratio of 1.01 and a debt-to-equity ratio of 0.50. Johnson & Johnson has a 52-week low of $140.68 and a 52-week high of $173.96.

Johnson & Johnson (NYSE:JNJ - Get Free Report) 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 net margin of 25.00% and a return on equity of 32.49%. The company had revenue of $23.74 billion during the quarter, compared to analyst estimates of $22.85 billion. During the same quarter last year, the firm posted $2.82 EPS. The business's revenue for the quarter was up 5.8% on a year-over-year basis. On average, sell-side analysts anticipate that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 9th. Stockholders of record on Tuesday, August 26th will be given 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 3.0%. Johnson & Johnson's dividend payout ratio (DPR) is 55.61%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on JNJ shares. UBS Group upped their price target on shares of Johnson & Johnson from $180.00 to $190.00 and gave the company a "buy" rating in a report on Thursday, July 17th. Royal Bank Of Canada upped their price target on shares of Johnson & Johnson from $181.00 to $185.00 and gave the company an "outperform" rating in a report on Thursday, July 17th. Bank of America upped their price target on shares of Johnson & Johnson from $161.00 to $175.00 and gave the company a "neutral" rating in a report on Thursday, July 17th. Sanford C. Bernstein reaffirmed a "market perform" rating on shares of Johnson & Johnson in a report on Wednesday, April 16th. Finally, Guggenheim reaffirmed a "neutral" rating and issued a $167.00 price target (up from $164.00) on shares of Johnson & Johnson in a report on Thursday, July 17th. Nine research analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $174.50.

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.

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