Cypress Capital Group Has $12.03 Million Holdings in Johnson & Johnson (NYSE:JNJ)

Key Points

• Cypress Capital Group reduced its stake in Johnson & Johnson by 2.3%, selling 1,744 shares and now holding 72,523 shares, which is valued at approximately $12 million.
• Johnson & Johnson reported a quarterly earnings of $2.77 per share, surpassing analysts' expectations of $2.68, with revenue of $23.74 billion for the quarter.
• The company declared a quarterly dividend of $1.30, marking a 3.0% yield, set to be paid on September 9th.

Cypress Capital Group cut its position in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 2.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 72,523 shares of the company's stock after selling 1,744 shares during the period. Johnson & Johnson accounts for about 1.6% of Cypress Capital Group's investment portfolio, making the stock its 14th largest position. Cypress Capital Group's holdings in Johnson & Johnson were worth $12,027,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Brighton Jones LLC boosted its stake in Johnson & Johnson by 13.9% during the 4th quarter. Brighton Jones LLC now owns 51,876 shares of the company's stock valued at $7,502,000 after purchasing an additional 6,332 shares during the period. Hudson Value Partners LLC boosted its stake in Johnson & Johnson by 2.5% during the 4th quarter. Hudson Value Partners LLC now owns 41,403 shares of the company's stock valued at $5,648,000 after purchasing an additional 1,022 shares during the period. Sagespring Wealth Partners LLC bought a new stake in Johnson & Johnson during the 4th quarter valued at approximately $3,850,000. Altman Advisors Inc. boosted its stake in Johnson & Johnson by 2.8% during the 4th quarter. Altman Advisors Inc. now owns 9,984 shares of the company's stock valued at $1,444,000 after purchasing an additional 273 shares during the period. Finally, Stamos Capital Partners L.P. boosted its stake in Johnson & Johnson by 23.6% during the 4th quarter. Stamos Capital Partners L.P. now owns 55,480 shares of the company's stock valued at $8,024,000 after purchasing an additional 10,580 shares during the period. 69.55% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on the company. UBS Group increased their target price on Johnson & Johnson from $180.00 to $190.00 and gave the company a "buy" rating in a research note on Thursday, July 17th. Piper Sandler restated an "overweight" rating on shares of Johnson & Johnson in a research note on Thursday, July 17th. Sanford C. Bernstein restated a "market perform" rating on shares of Johnson & Johnson in a research note on Wednesday, April 16th. Royal Bank Of Canada raised their price objective on Johnson & Johnson from $181.00 to $185.00 and gave the stock an "outperform" rating in a research report on Thursday, July 17th. Finally, Wall Street Zen downgraded Johnson & Johnson from a "strong-buy" rating to a "buy" rating in a research report on Friday, July 18th. Nine investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $174.50.

Johnson & Johnson Price Performance

Shares of JNJ traded up $1.51 during mid-day trading on Wednesday, reaching $174.29. The company had a trading volume of 5,872,136 shares, compared to its average volume of 9,044,614. Johnson & Johnson has a twelve month low of $140.68 and a twelve month high of $174.76. 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's 50-day moving average is $160.00 and its 200-day moving average is $157.90. The company has a market capitalization of $419.75 billion, a P/E ratio of 18.64, a P/E/G ratio of 2.21 and a beta of 0.41.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last issued its earnings results on Wednesday, July 16th. The company reported $2.77 earnings per share (EPS) for the quarter, topping 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 business 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 firm posted $2.82 EPS. Johnson & Johnson's quarterly revenue was up 5.8% compared to the same quarter last year. On average, equities analysts anticipate that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 9th. Investors of record on Tuesday, August 26th will be issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend is Tuesday, August 26th. Johnson & Johnson's dividend payout ratio (DPR) 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.