Johnson & Johnson (NYSE:JNJ) Shares Sold by Cornerstone Advisors LLC

Key Points

• Cornerstone Advisors LLC reduced its holdings in Johnson & Johnson by 15.7%, selling 19,400 shares and now owning 104,002 shares worth $17,248,000.
• Johnson & Johnson recently reported quarterly earnings with $2.77 EPS, exceeding analysts' expectations of $2.68 and marking a 5.8% revenue increase year-over-year.
• The company declared a $1.30 quarterly dividend to be paid on September 9th, representing an annualized dividend of $5.20 with a 3.0% yield.

Cornerstone Advisors LLC decreased its position in Johnson & Johnson (NYSE:JNJ - Free Report) by 15.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 104,002 shares of the company's stock after selling 19,400 shares during the quarter. Cornerstone Advisors LLC's holdings in Johnson & Johnson were worth $17,248,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the business. GAMMA Investing LLC boosted its stake in Johnson & Johnson by 24,450.4% during the first quarter. GAMMA Investing LLC now owns 7,215,367 shares of the company's stock worth $1,196,596,000 after buying an additional 7,185,977 shares during the period. Bank of New York Mellon Corp raised its position 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 worth $3,844,580,000 after purchasing an additional 4,842,582 shares during the period. Janus Henderson Group PLC boosted its position in shares of Johnson & Johnson by 134.5% during the fourth quarter. Janus Henderson Group PLC now owns 7,948,508 shares of the company's stock valued at $1,149,536,000 after buying an additional 4,559,147 shares during the period. Northern Trust Corp grew its stake in shares of Johnson & Johnson by 12.3% during the fourth quarter. Northern Trust Corp now owns 30,813,175 shares of the company's stock valued at $4,456,201,000 after buying an additional 3,363,235 shares during the last quarter. Finally, Pacer Advisors Inc. lifted its stake in shares of Johnson & Johnson by 1,382.0% during the 1st quarter. Pacer Advisors Inc. now owns 3,030,084 shares of the company's stock worth $502,509,000 after acquiring an additional 2,825,626 shares during the last quarter. Institutional investors own 69.55% of the company's stock.

Wall Street Analyst Weigh In

JNJ has been the topic of a number of recent analyst reports. Wall Street Zen lowered Johnson & Johnson from a "strong-buy" rating to a "buy" rating in a research note on Friday, July 18th. Morgan Stanley upped their target price on shares of Johnson & Johnson from $171.00 to $176.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 17th. 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 report on Thursday, July 17th. Erste Group Bank raised Johnson & Johnson from a "hold" rating to a "buy" rating in a research report on Wednesday, July 23rd. Finally, Piper Sandler reiterated an "overweight" rating on shares of Johnson & Johnson in a report on Thursday, July 17th. Nine equities 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 stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $174.50.

Johnson & Johnson Stock Up 0.5%

JNJ stock traded up $0.82 on Thursday, hitting $171.41. 9,314,579 shares of the company's stock were exchanged, compared to its average volume of 9,367,092. The firm has a 50 day moving average price of $158.89 and a two-hundred day moving average price of $157.27. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.76 and a current ratio of 1.01. Johnson & Johnson has a 12-month low of $140.68 and a 12-month high of $172.18. The stock has a market cap of $412.81 billion, a P/E ratio of 18.33, a price-to-earnings-growth ratio of 2.17 and a beta of 0.41.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last announced its quarterly earnings data on Wednesday, July 16th. The company reported $2.77 EPS 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 firm had revenue of $23.74 billion during the quarter, compared to analyst estimates of $22.85 billion. During the same period last year, the firm posted $2.82 EPS. Johnson & Johnson's revenue was up 5.8% on a year-over-year basis. As a group, equities research analysts expect that Johnson & Johnson will post 10.58 EPS for the current fiscal 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 $1.30 dividend. The ex-dividend date of this dividend is Tuesday, August 26th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.0%. Johnson & Johnson's dividend payout ratio is currently 55.61%.

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.