Integrated Investment Consultants LLC Reduces Position in Johnson & Johnson (NYSE:JNJ)

Key Points

• Integrated Investment Consultants LLC significantly reduced its stake in Johnson & Johnson by 84.8%, now holding only 11,021 shares valued at approximately $1.83 million after selling 61,361 shares in the first quarter.
• Other institutional investors have increased their holdings, with notable increases from Lantz Financial and Joel Isaacson & Co., contributing to a total of 69.55% ownership by institutional investors.
• Johnson & Johnson reported a quarterly earnings of $2.77 per share, exceeding analysts' estimates, and declared a quarterly dividend of $1.30 to be paid on September 9th.

Integrated Investment Consultants LLC lessened its holdings in Johnson & Johnson (NYSE:JNJ - Free Report) by 84.8% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,021 shares of the company's stock after selling 61,361 shares during the period. Integrated Investment Consultants LLC's holdings in Johnson & Johnson were worth $1,828,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in JNJ. GAMMA Investing LLC increased its holdings in shares of Johnson & Johnson by 24,450.4% in the first quarter. GAMMA Investing LLC now owns 7,215,367 shares of the company's stock worth $1,196,596,000 after purchasing an additional 7,185,977 shares during the period. Bank of New York Mellon Corp boosted its stake 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 in the last quarter. Janus Henderson Group PLC lifted its stake in shares of Johnson & Johnson by 134.5% in 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 period. Northern Trust Corp increased its stake in shares of 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 acquiring an additional 3,363,235 shares in the last quarter. Finally, Pacer Advisors Inc. increased its holdings in shares of Johnson & Johnson by 1,382.0% during the first quarter. Pacer Advisors Inc. now owns 3,030,084 shares of the company's stock valued at $502,509,000 after acquiring an additional 2,825,626 shares in the last quarter. Institutional investors own 69.55% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Erste Group Bank raised Johnson & Johnson from a "hold" rating to a "buy" rating in a research report on Wednesday, July 23rd. Leerink Partners downgraded shares of Johnson & Johnson from an "outperform" rating to a "market perform" rating and reduced their price target for the company from $169.00 to $153.00 in a report on Tuesday, May 13th. Piper Sandler reissued an "overweight" rating on shares of Johnson & Johnson in a research report on Thursday, July 17th. Morgan Stanley upped their target price on shares of Johnson & Johnson from $171.00 to $176.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 17th. Finally, Benchmark raised shares of Johnson & Johnson to a "strong-buy" rating in a report on Thursday, April 24th. Nine 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 company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $174.50.

Johnson & Johnson Stock Performance

Shares of NYSE JNJ traded down $2.12 during midday trading on Monday, reaching $166.18. 8,013,353 shares of the stock were exchanged, compared to its average volume of 8,187,951. 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 firm has a 50-day simple moving average of $156.08 and a two-hundred day simple moving average of $155.97. Johnson & Johnson has a twelve month low of $140.68 and a twelve month high of $169.99. The firm has a market cap of $399.84 billion, a price-to-earnings ratio of 17.77, a PEG ratio of 2.14 and a beta of 0.41.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last posted 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. The business had revenue of $23.74 billion for the quarter, compared to analyst estimates of $22.85 billion. Johnson & Johnson had a net margin of 25.00% and a return on equity of 32.49%. The company's revenue for the quarter was up 5.8% on a year-over-year basis. During the same period in the prior year, the company posted $2.82 EPS. As a group, analysts anticipate 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 3.13%. The ex-dividend date is Tuesday, August 26th. Johnson & Johnson's payout ratio is 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.