EFG Asset Management Americas Corp. Reduces Stock Position in Johnson & Johnson (NYSE:JNJ)

Key Points

• EFG Asset Management Americas Corp. significantly reduced its holdings in Johnson & Johnson by 60.4%, now owning 21,664 shares valued at approximately $3.59 million.
• Several hedge funds have altered their positions in Johnson & Johnson, with 69.55% of the stock being owned by institutional investors.
• Johnson & Johnson announced a quarterly dividend of $1.30 per share, reflecting an annualized yield of 3.11% and a payout ratio of 55.61%.

EFG Asset Management Americas Corp. trimmed its holdings in Johnson & Johnson (NYSE:JNJ - Free Report) by 60.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,664 shares of the company's stock after selling 33,055 shares during the period. EFG Asset Management Americas Corp.'s holdings in Johnson & Johnson were worth $3,593,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Lantz Financial LLC boosted its stake in shares of Johnson & Johnson by 3.3% in the 1st quarter. Lantz Financial LLC now owns 11,974 shares of the company's stock valued at $1,986,000 after purchasing an additional 377 shares in the last quarter. Sulzberger Capital Advisors Inc. acquired a new position in Johnson & Johnson in the 4th quarter valued at approximately $453,000. Joel Isaacson & Co. LLC raised its stake in shares of Johnson & Johnson by 3.5% during the first quarter. Joel Isaacson & Co. LLC now owns 74,132 shares of the company's stock valued at $12,294,000 after acquiring an additional 2,526 shares during the last quarter. State of Wyoming increased its holdings in Johnson & Johnson by 205,580.0% in the fourth quarter. State of Wyoming now owns 10,284 shares of the company's stock valued at $1,487,000 after purchasing an additional 10,279 shares during the period. Finally, Range Financial Group LLC lifted its holdings in Johnson & Johnson by 18.9% during the 1st quarter. Range Financial Group LLC now owns 15,886 shares of the company's stock worth $2,635,000 after buying an additional 2,529 shares during the period. 69.55% of the stock is owned by institutional investors.

Johnson & Johnson Stock Performance

Shares of JNJ stock traded up $2.59 during trading on Friday, hitting $167.33. The company's stock had a trading volume of 8,914,735 shares, compared to its average volume of 8,384,981. 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 has a market cap of $402.99 billion, a PE ratio of 17.90, a P/E/G ratio of 2.10 and a beta of 0.41. The business has a fifty day moving average of $157.46 and a 200-day moving average of $156.60. Johnson & Johnson has a 52 week low of $140.68 and a 52 week high of $169.99.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last announced its earnings results on Wednesday, July 16th. The company reported $2.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.68 by $0.09. The firm had revenue of $23.74 billion during the quarter, compared to analyst estimates of $22.85 billion. Johnson & Johnson had a return on equity of 32.49% and a net margin of 25.00%. The business's revenue was up 5.8% compared to the same quarter last year. During the same period last year, the firm posted $2.82 EPS. As a group, research analysts anticipate that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 9th. Shareholders of record on Tuesday, August 26th will be issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend is Tuesday, August 26th. Johnson & Johnson's dividend payout ratio is 55.61%.

Analysts Set New Price Targets

JNJ has been the subject of a number of recent analyst reports. The Goldman Sachs Group raised shares of Johnson & Johnson from a "neutral" rating to a "buy" rating and increased their target price for the company from $157.00 to $172.00 in a research report on Wednesday, April 9th. Morgan Stanley upped their price target on shares of Johnson & Johnson from $171.00 to $176.00 and gave the company an "equal weight" rating in a research report on Thursday, July 17th. Piper Sandler reissued an "overweight" rating on shares of Johnson & Johnson in a research note on Thursday, July 17th. Leerink Partners cut Johnson & Johnson from an "outperform" rating to a "market perform" rating and decreased their target price for the stock from $169.00 to $153.00 in a research note on Tuesday, May 13th. Finally, Erste Group Bank raised Johnson & Johnson from a "hold" rating to a "buy" rating in a research note on Wednesday, July 23rd. Nine research 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 stock. According to data from MarketBeat.com, Johnson & Johnson has an average rating of "Moderate Buy" and an average price target of $174.50.

About Johnson & Johnson

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.