Fayez Sarofim & Co Lowers Stake in Johnson & Johnson (NYSE:JNJ)

Key Points

• Fayez Sarofim & Co. reduced its stake in Johnson & Johnson by 2.7%, now holding 878,686 shares valued at approximately $145.7 million following the sale of 24,804 shares.
• Johnson & Johnson's recent earnings report indicated an EPS of $2.77, exceeding expectations, and a quarterly revenue of $23.74 billion, a 5.8% increase year-over-year.
• The company announced a quarterly dividend of $1.30 per share, reflecting an annualized dividend yield of 3.0% and a payout ratio of 55.61%.

Fayez Sarofim & Co lowered its stake in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 2.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 878,686 shares of the company's stock after selling 24,804 shares during the period. Fayez Sarofim & Co's holdings in Johnson & Johnson were worth $145,721,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of JNJ. GAMMA Investing LLC lifted its holdings in shares of Johnson & Johnson by 24,450.4% during the 1st quarter. GAMMA Investing LLC now owns 7,215,367 shares of the company's stock valued at $1,196,596,000 after purchasing an additional 7,185,977 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Johnson & Johnson by 26.4% during the 1st quarter. Bank of New York Mellon Corp now owns 23,182,464 shares of the company's stock valued at $3,844,580,000 after purchasing an additional 4,842,582 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Johnson & Johnson by 134.5% during the 4th quarter. Janus Henderson Group PLC now owns 7,948,508 shares of the company's stock valued at $1,149,536,000 after purchasing an additional 4,559,147 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Johnson & Johnson by 12.3% during the 4th quarter. Northern Trust Corp now owns 30,813,175 shares of the company's stock valued at $4,456,201,000 after purchasing an additional 3,363,235 shares during the last quarter. Finally, Pacer Advisors Inc. lifted its holdings 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 valued at $502,509,000 after purchasing an additional 2,825,626 shares during the last quarter. Hedge funds and other institutional investors own 69.55% of the company's stock.

Johnson & Johnson Price Performance

NYSE:JNJ opened at $170.72 on Thursday. Johnson & Johnson has a 52 week low of $140.68 and a 52 week high of $172.18. 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 stock has a market capitalization of $411.14 billion, a PE ratio of 18.26, a price-to-earnings-growth ratio of 2.17 and a beta of 0.41. The stock's 50-day moving average price is $158.53 and its 200-day moving average price is $157.10.

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 return on equity of 32.49% and a net margin of 25.00%. The firm had revenue of $23.74 billion for the quarter, compared to analysts' expectations of $22.85 billion. During the same period last year, the firm earned $2.82 EPS. The company's quarterly revenue was up 5.8% on a year-over-year basis. As a group, equities analysts expect that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Dividend Announcement

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

Wall Street Analyst Weigh In

Several analysts have recently commented on JNJ shares. Wall Street Zen lowered Johnson & Johnson from a "strong-buy" rating to a "buy" rating in a report on Friday, July 18th. Bank of America raised their target price on Johnson & Johnson from $161.00 to $175.00 and gave the stock a "neutral" rating in a research note on Thursday, July 17th. The Goldman Sachs Group upgraded Johnson & Johnson from a "neutral" rating to a "buy" rating and raised their target price for the stock from $157.00 to $172.00 in a research note on Wednesday, April 9th. Piper Sandler restated an "overweight" rating on shares of Johnson & Johnson in a research note on Thursday, July 17th. Finally, Leerink Partners lowered Johnson & Johnson from an "outperform" rating to a "market perform" rating and reduced their target price 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 given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price 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.

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