First National Advisers LLC Lowers Holdings in Johnson & Johnson (NYSE:JNJ)

Key Points

• First National Advisers LLC reduced its stake in Johnson & Johnson by 27.8% during the first quarter, holding 13,769 shares worth approximately $2.28 million.
• Johnson & Johnson's stock experienced a 0.7% decrease in price, trading at $168.29, with a market capitalization of $404.92 billion.
• The company recently declared a quarterly dividend of $1.30 per share, resulting in an annualized dividend yield of 3.09%, with a payout ratio of 55.61%.

First National Advisers LLC reduced its position in Johnson & Johnson (NYSE:JNJ - Free Report) by 27.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,769 shares of the company's stock after selling 5,295 shares during the period. First National Advisers LLC's holdings in Johnson & Johnson were worth $2,284,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of JNJ. Geode Capital Management LLC raised its holdings in Johnson & Johnson by 2.8% in the 4th quarter. Geode Capital Management LLC now owns 57,667,920 shares of the company's stock worth $8,321,881,000 after purchasing an additional 1,561,036 shares during the period. Northern Trust Corp raised its holdings in Johnson & Johnson by 12.3% in the 4th quarter. Northern Trust Corp now owns 30,813,175 shares of the company's stock worth $4,456,201,000 after purchasing an additional 3,363,235 shares during the period. Wellington Management Group LLP raised its holdings in Johnson & Johnson by 1.8% in the 4th quarter. Wellington Management Group LLP now owns 24,356,572 shares of the company's stock worth $3,522,447,000 after purchasing an additional 431,205 shares during the period. Bank of New York Mellon Corp raised its holdings in Johnson & Johnson by 26.4% in the 1st quarter. Bank of New York Mellon Corp now owns 23,182,464 shares of the company's stock worth $3,844,580,000 after purchasing an additional 4,842,582 shares during the period. Finally, Invesco Ltd. raised its holdings in Johnson & Johnson by 6.5% in the 4th quarter. Invesco Ltd. now owns 19,126,079 shares of the company's stock worth $2,766,014,000 after purchasing an additional 1,171,975 shares during the period. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Piper Sandler reaffirmed an "overweight" rating on shares of Johnson & Johnson in a report on Thursday, July 17th. Sanford C. Bernstein reaffirmed a "market perform" rating on shares of Johnson & Johnson in a report on Wednesday, April 16th. Bank of America lifted their price target on Johnson & Johnson from $161.00 to $175.00 and gave the stock a "neutral" rating in a research report on Thursday, July 17th. Leerink Partnrs lowered Johnson & Johnson from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 13th. Finally, UBS Group lifted their price target on Johnson & Johnson from $180.00 to $190.00 and gave the stock a "buy" rating in a research report on Thursday, July 17th. Nine research analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $174.50.

Johnson & Johnson Stock Down 1.1%

NYSE:JNJ traded down $1.85 during trading hours on Thursday, reaching $165.41. The company's stock had a trading volume of 4,547,807 shares, compared to its average volume of 9,028,843. The stock has a 50 day moving average price of $156.93 and a two-hundred day moving average price of $156.30. The company has a market capitalization of $398.35 billion, a P/E ratio of 17.69, a price-to-earnings-growth ratio of 2.14 and a beta of 0.41. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.76 and a current ratio of 1.01. Johnson & Johnson has a 12 month low of $140.68 and a 12 month high of $169.99.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last issued its quarterly 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. The business had revenue of $23.74 billion for the quarter, compared to the consensus estimate of $22.85 billion. Johnson & Johnson had a return on equity of 32.49% and a net margin of 25.00%. The business's quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the prior year, the firm posted $2.82 earnings per share. Equities analysts predict that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 9th. Stockholders 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 dividend yield of 3.14%. The ex-dividend date of this dividend is Tuesday, August 26th. Johnson & Johnson's dividend payout ratio (DPR) is presently 55.61%.

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.