Invesco Ltd. Lowers Holdings in Johnson & Johnson (NYSE:JNJ)

Key Points

• Invesco Ltd. sold 651,373 shares of Johnson & Johnson in Q1, reducing its holdings by 3.4%, leaving it with approximately 18.5 million shares valued at over $3 billion.
• Johnson & Johnson's recent quarterly earnings surpassed expectations with an EPS of $2.77, beating the estimated $2.68, contributing to a revenue of $23.74 billion.
• The company has declared a quarterly dividend of $1.30 with an annualized yield of 3.0%, to be paid out on September 9th, 2023.

Invesco Ltd. lowered its holdings in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 3.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 18,474,706 shares of the company's stock after selling 651,373 shares during the quarter. Johnson & Johnson accounts for 0.6% of Invesco Ltd.'s portfolio, making the stock its 15th biggest holding. Invesco Ltd. owned about 0.77% of Johnson & Johnson worth $3,063,845,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Berger Financial Group Inc raised its position in Johnson & Johnson by 24.3% during the 1st quarter. Berger Financial Group Inc now owns 49,985 shares of the company's stock valued at $8,290,000 after purchasing an additional 9,767 shares in the last quarter. Pandora Wealth Inc. bought a new stake in Johnson & Johnson during the 1st quarter valued at $65,000. Sierra Summit Advisors LLC raised its position in Johnson & Johnson by 1.0% during the 1st quarter. Sierra Summit Advisors LLC now owns 14,060 shares of the company's stock valued at $2,332,000 after purchasing an additional 133 shares in the last quarter. Fiduciary Family Office LLC bought a new stake in Johnson & Johnson during the 1st quarter valued at $1,508,000. Finally, Taylor Financial Group Inc. raised its position in shares of Johnson & Johnson by 5.7% in the 1st quarter. Taylor Financial Group Inc. now owns 2,631 shares of the company's stock worth $436,000 after acquiring an additional 142 shares in the last quarter. Hedge funds and other institutional investors own 69.55% of the company's stock.

Johnson & Johnson Stock Performance

Shares of JNJ stock traded up $1.87 during mid-day trading on Friday, reaching $173.40. The stock had a trading volume of 7,686,049 shares, compared to its average volume of 9,496,232. The business's fifty day moving average is $159.26 and its 200-day moving average is $157.52. The company has a current ratio of 1.01, a quick ratio of 0.76 and a debt-to-equity ratio of 0.50. The firm has a market cap of $417.61 billion, a price-to-earnings ratio of 18.55, a PEG ratio of 2.21 and a beta of 0.41. Johnson & Johnson has a 1-year low of $140.68 and a 1-year high of $173.96.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last announced its quarterly earnings data on Wednesday, July 16th. The company reported $2.77 earnings per share for the quarter, beating analysts' consensus estimates 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 return on equity of 32.49% and a net margin of 25.00%. The company's revenue was up 5.8% on a year-over-year basis. During the same period in the prior year, the company earned $2.82 earnings per share. On average, research analysts forecast that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Announces Dividend

The company 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 $1.30 dividend. 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 3.0%. Johnson & Johnson's dividend payout ratio is currently 55.61%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on JNJ. Bank of America boosted 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. Erste Group Bank raised shares of Johnson & Johnson from a "hold" rating to a "buy" rating in a research report on Wednesday, July 23rd. Barclays lifted their price objective on shares of Johnson & Johnson from $165.00 to $176.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 17th. Benchmark raised shares of Johnson & Johnson to a "strong-buy" rating in a research report on Thursday, April 24th. Finally, Piper Sandler reaffirmed an "overweight" rating on shares of Johnson & Johnson 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 given a strong buy rating to the company's stock. According to MarketBeat, the company presently 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.