First National Trust Co Lowers Holdings in Johnson & Johnson (NYSE:JNJ)

Key Points

• First National Trust Co sold 9,322 shares of Johnson & Johnson (JNJ), reducing its holdings by 6.2% and now holding a total of 141,658 shares, approximately 0.9% of its portfolio.
• Analysts have recently raised price targets for Johnson & Johnson, with UBS Group setting a new target at $190.00 and an "outperform" rating from Royal Bank of Canada at $185.00.
• Johnson & Johnson declared a quarterly dividend of $1.30, with a yield of 3.09%, to be paid on September 9th to investors of record on August 26th.

First National Trust Co cut its holdings in Johnson & Johnson (NYSE:JNJ - Free Report) by 6.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 141,658 shares of the company's stock after selling 9,322 shares during the quarter. Johnson & Johnson accounts for approximately 0.9% of First National Trust Co's holdings, making the stock its 25th largest position. First National Trust Co's holdings in Johnson & Johnson were worth $23,493,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in JNJ. Geode Capital Management LLC lifted its holdings in Johnson & Johnson by 2.8% during the fourth quarter. Geode Capital Management LLC now owns 57,667,920 shares of the company's stock valued at $8,321,881,000 after purchasing an additional 1,561,036 shares in the last quarter. Northern Trust Corp boosted its position in shares of Johnson & Johnson by 12.3% in the fourth 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. Bank of New York Mellon Corp increased its stake 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 buying an additional 4,842,582 shares in the last quarter. Invesco Ltd. increased its stake 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 buying an additional 1,171,975 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake in Johnson & Johnson by 2.5% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 18,282,410 shares of the company's stock worth $3,031,955,000 after buying an additional 448,666 shares in the last quarter. 69.55% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on JNJ shares. Wall Street Zen lowered Johnson & Johnson from a "strong-buy" rating to a "buy" rating in a research note on Friday, July 18th. Piper Sandler restated an "overweight" rating on shares of Johnson & Johnson in a research report on Thursday, July 17th. The Goldman Sachs Group upgraded Johnson & Johnson from a "neutral" rating to a "buy" rating and raised their price objective for the company from $157.00 to $172.00 in a research report on Wednesday, April 9th. Guggenheim reaffirmed a "neutral" rating and issued a $167.00 price target (up previously from $164.00) on shares of Johnson & Johnson in a report on Thursday, July 17th. Finally, Bank of America increased their price target on shares of Johnson & Johnson from $161.00 to $175.00 and gave the company a "neutral" rating in a report on Thursday, July 17th. Nine equities research 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's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $174.50.

Johnson & Johnson Stock Up 1.6%

NYSE:JNJ traded up $2.59 during trading hours on Friday, reaching $167.33. The company's stock had a trading volume of 8,914,735 shares, compared to its average volume of 9,077,193. The stock has a 50 day moving average price of $157.18 and a two-hundred day moving average price of $156.44. The company has a market capitalization of $402.99 billion, a P/E ratio of 17.90, a price-to-earnings-growth ratio of 2.13 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 Dividend Announcement

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. The ex-dividend date of this dividend is Tuesday, August 26th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.1%. Johnson & Johnson's payout ratio is 55.61%.

Johnson & Johnson 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.