Federated Hermes Inc. Lowers Stock Holdings in Johnson & Johnson (NYSE:JNJ)

Key Points

• Federated Hermes Inc. has reduced its stake in Johnson & Johnson by 6.3%, owning approximately $482.81 million worth of shares, which account for 1% of its total holdings.
• Analysts have recently raised price targets for Johnson & Johnson, with UBS Group setting it at $190.00 and Bank of America at $175.00, reflecting a generally positive outlook for the stock.
• Johnson & Johnson announced a quarterly dividend of $1.30 per share, resulting in an annualized dividend of $5.20 and a yield of 3.13% based on the current price.

Federated Hermes Inc. lowered its holdings in Johnson & Johnson (NYSE:JNJ - Free Report) by 6.3% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,911,293 shares of the company's stock after selling 197,077 shares during the period. Johnson & Johnson comprises 1.0% of Federated Hermes Inc.'s portfolio, making the stock its 11th largest position. Federated Hermes Inc. owned 0.12% of Johnson & Johnson worth $482,809,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Conquis Financial LLC bought a new position in Johnson & Johnson during the 4th quarter valued at $33,000. Bernard Wealth Management Corp. purchased a new stake in shares of Johnson & Johnson in the fourth quarter valued at $36,000. Highline Wealth Partners LLC lifted its holdings in shares of Johnson & Johnson by 51.8% in the first quarter. Highline Wealth Partners LLC now owns 252 shares of the company's stock valued at $42,000 after purchasing an additional 86 shares in the last quarter. von Borstel & Associates Inc. purchased a new stake in shares of Johnson & Johnson in the first quarter valued at $49,000. Finally, Capital A Wealth Management LLC purchased a new stake in shares of Johnson & Johnson during the fourth quarter worth $50,000. Hedge funds and other institutional investors own 69.55% of the company's stock.

Johnson & Johnson Stock Up 1.5%

JNJ traded up $2.43 on Friday, hitting $167.17. The company had a trading volume of 5,337,337 shares, compared to its average volume of 9,049,290. The stock has a fifty day simple moving average of $157.18 and a 200-day simple moving average of $156.44. 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 firm has a market capitalization of $402.59 billion, a P/E ratio of 17.88, a P/E/G ratio of 2.13 and a beta of 0.41. 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 issued its earnings results on Wednesday, July 16th. The company reported $2.77 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to the consensus estimate of $22.85 billion. During the same quarter in the prior year, the firm posted $2.82 earnings per share. The business's 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 business also recently announced a quarterly dividend, which will be paid on Tuesday, September 9th. Investors of record on Tuesday, August 26th will be paid 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 (DPR) is presently 55.61%.

Wall Street Analyst Weigh In

JNJ has been the topic of several recent research reports. Piper Sandler restated an "overweight" rating on shares of Johnson & Johnson in a report on Thursday, July 17th. Guggenheim reissued a "neutral" rating and set a $167.00 target price (up from $164.00) on shares of Johnson & Johnson in a research report on Thursday, July 17th. Morgan Stanley lifted their target price on Johnson & Johnson from $171.00 to $176.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 17th. UBS Group raised their price target on shares of Johnson & Johnson from $180.00 to $190.00 and gave the stock a "buy" rating in a research note on Thursday, July 17th. Finally, Benchmark upgraded shares of Johnson & Johnson to a "strong-buy" rating in a research note on Thursday, April 24th. Nine analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus 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.