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Johnson & Johnson (NYSE:JNJ) Shares Sold by Cumberland Partners Ltd

Johnson & Johnson logo with Medical background

Key Points

  • Cumberland Partners Ltd reduced its stake in Johnson & Johnson by 20.6%, now holding 14,530 shares worth $2.41 million after selling 3,770 shares in the first quarter.
  • Johnson & Johnson recently reported $2.77 earnings per share for the quarter, surpassing estimates and achieving a 5.8% year-over-year revenue growth with total revenue of $23.74 billion.
  • The company declared a quarterly dividend of $1.30 per share, which amounts to a 3.1% yield and a payout ratio of 55.61%.
  • Five stocks we like better than Johnson & Johnson.

Cumberland Partners Ltd reduced its stake in Johnson & Johnson (NYSE:JNJ - Free Report) by 20.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,530 shares of the company's stock after selling 3,770 shares during the period. Cumberland Partners Ltd's holdings in Johnson & Johnson were worth $2,410,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Endeavor Private Wealth Inc. boosted its stake in Johnson & Johnson by 505.8% during the first quarter. Endeavor Private Wealth Inc. now owns 2,072 shares of the company's stock worth $344,000 after acquiring an additional 1,730 shares in the last quarter. Fiduciary Wealth Partners LLC purchased a new position in shares of Johnson & Johnson during the first quarter valued at approximately $303,000. IFG Advisory LLC grew its stake in shares of Johnson & Johnson by 48.2% in the 1st quarter. IFG Advisory LLC now owns 25,398 shares of the company's stock worth $4,212,000 after buying an additional 8,264 shares during the last quarter. TIAA Trust National Association raised its stake in Johnson & Johnson by 19.3% during the first quarter. TIAA Trust National Association now owns 418,599 shares of the company's stock valued at $69,420,000 after buying an additional 67,624 shares during the last quarter. Finally, Strategic Family Wealth Counselors L.L.C. boosted its holdings in Johnson & Johnson by 3.2% in the first quarter. Strategic Family Wealth Counselors L.L.C. now owns 3,608 shares of the company's stock worth $598,000 after acquiring an additional 111 shares in the last quarter. 69.55% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

JNJ has been the topic of a number of research analyst reports. 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. Leerink Partnrs cut Johnson & Johnson from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 13th. Piper Sandler restated an "overweight" rating on shares of Johnson & Johnson in a report on Thursday, July 17th. Raymond James Financial reduced their price objective on shares of Johnson & Johnson from $165.00 to $162.00 and set an "outperform" rating on the stock in a research report on Monday, April 14th. Finally, Leerink Partners downgraded Johnson & Johnson from an "outperform" rating to a "market perform" rating and reduced their price target for the stock from $169.00 to $153.00 in a report on Tuesday, May 13th. Nine research analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Johnson & Johnson presently has a consensus rating of "Moderate Buy" and a consensus price target of $174.50.

Check Out Our Latest Research Report on JNJ

Johnson & Johnson Stock Performance

Shares of Johnson & Johnson stock traded up $3.75 during midday trading on Monday, hitting $171.08. The company had a trading volume of 12,677,035 shares, compared to its average volume of 8,831,392. The stock has a market cap of $412.02 billion, a price-to-earnings ratio of 18.30, a PEG ratio of 2.13 and a beta of 0.41. Johnson & Johnson has a 12-month low of $140.68 and a 12-month high of $171.19. The company has a quick ratio of 0.76, a current ratio of 1.01 and a debt-to-equity ratio of 0.50. The company has a fifty day simple moving average of $157.46 and a 200 day simple moving average of $156.74.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last posted 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 the consensus estimate of $22.85 billion. Johnson & Johnson had a net margin of 25.00% and a return on equity of 32.49%. The business's revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.82 earnings per share. As a group, analysts predict that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The firm also recently announced 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. The ex-dividend date is Tuesday, August 26th. This represents a $5.20 dividend on an annualized basis and a yield of 3.0%. Johnson & Johnson's payout ratio is currently 55.61%.

About Johnson & Johnson

(Free Report)

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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Institutional Ownership by Quarter for Johnson & Johnson (NYSE:JNJ)

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