Johnson & Johnson (NYSE:JNJ) Shares Sold by Core Wealth Partners LLC

Key Points

• Core Wealth Partners LLC reduced its holdings in Johnson & Johnson by 23.5% during the first quarter, leaving them with 11,070 shares valued at approximately $1.84 million.
• Analysts have mixed views on Johnson & Johnson, with ratings including ten buy ratings, nine holds, and two strong buy ratings, leading to a consensus rating of "Moderate Buy".
• Johnson & Johnson recently announced a quarterly $1.30 dividend per share, which translates to an annualized dividend yield of 3.0%, with a payout ratio of 55.61%.

Core Wealth Partners LLC decreased its position in Johnson & Johnson (NYSE:JNJ - Free Report) by 23.5% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 11,070 shares of the company's stock after selling 3,404 shares during the quarter. Johnson & Johnson makes up 1.1% of Core Wealth Partners LLC's portfolio, making the stock its 26th biggest holding. Core Wealth Partners LLC's holdings in Johnson & Johnson were worth $1,836,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Taylor Hoffman Capital Management LLC raised its holdings in Johnson & Johnson by 1.0% during the first quarter. Taylor Hoffman Capital Management LLC now owns 29,099 shares of the company's stock valued at $4,459,000 after acquiring an additional 291 shares during the period. Sustainable Insight Capital Management LLC lifted its holdings in shares of Johnson & Johnson by 35.3% in the first quarter. Sustainable Insight Capital Management LLC now owns 2,300 shares of the company's stock worth $381,000 after buying an additional 600 shares in the last quarter. Delos Wealth Advisors LLC boosted its position in shares of Johnson & Johnson by 3.2% during the first quarter. Delos Wealth Advisors LLC now owns 2,610 shares of the company's stock worth $433,000 after acquiring an additional 80 shares during the last quarter. Peak Financial Management Inc. purchased a new position in Johnson & Johnson during the first quarter valued at $211,000. Finally, AGF Management Ltd. grew its position in shares of Johnson & Johnson by 0.4% during the first quarter. AGF Management Ltd. now owns 575,930 shares of the company's stock valued at $95,512,000 after purchasing an additional 2,054 shares in the last quarter. Hedge funds and other institutional investors own 69.55% of the company's stock.

Johnson & Johnson Stock Up 0.3%

Shares of JNJ traded up $0.54 during midday trading on Thursday, reaching $174.96. 8,229,615 shares of the stock were exchanged, compared to its average volume of 9,039,363. 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 company's 50 day moving average is $160.42 and its two-hundred day moving average is $158.01. The company has a market capitalization of $421.37 billion, a P/E ratio of 18.71, a PEG ratio of 2.20 and a beta of 0.41. Johnson & Johnson has a 52 week low of $140.68 and a 52 week high of $175.72.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last posted its 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 net margin of 25.00% and a return on equity of 32.49%. The business had revenue of $23.74 billion for the quarter, compared to the consensus estimate of $22.85 billion. During the same quarter last year, the firm posted $2.82 EPS. The company'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 year.

Johnson & Johnson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 9th. Stockholders of record on Tuesday, August 26th will be given a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend is Tuesday, August 26th. Johnson & Johnson's payout ratio is presently 55.61%.

Analyst Ratings Changes

JNJ has been the subject of several research analyst reports. Bank of America raised their price target on Johnson & Johnson from $161.00 to $175.00 and gave the company a "neutral" rating in a report on Thursday, July 17th. Leerink Partnrs downgraded shares of Johnson & Johnson from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 13th. Royal Bank Of Canada lifted their price objective on shares of Johnson & Johnson from $181.00 to $185.00 and gave the stock an "outperform" rating in a research note on Thursday, July 17th. Morgan Stanley increased their price target on shares of Johnson & Johnson from $171.00 to $176.00 and gave the company an "equal weight" rating in a report on Thursday, July 17th. Finally, Leerink Partners cut Johnson & Johnson from an "outperform" rating to a "market perform" rating and reduced their price objective for the stock from $169.00 to $153.00 in a research note on Tuesday, May 13th. Nine 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 company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $174.50.

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.