Citizens Financial Group Inc. RI Cuts Stock Holdings in Johnson & Johnson (NYSE:JNJ)

Key Points

• Citizens Financial Group Inc. RI has reduced its stake in Johnson & Johnson by 3.1%, now holding 152,711 shares worth approximately $25.3 million.
• Johnson & Johnson reported a quarterly EPS of $2.77, exceeding estimates, with revenues of $23.74 billion, a 5.8% increase year-over-year.
• The company has announced a quarterly dividend of $1.30 per share, reflecting an annualized yield of 3.0% with a payout ratio of 55.61%.

Citizens Financial Group Inc. RI trimmed its position in Johnson & Johnson (NYSE:JNJ - Free Report) by 3.1% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 152,711 shares of the company's stock after selling 4,867 shares during the period. Citizens Financial Group Inc. RI's holdings in Johnson & Johnson were worth $25,325,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Lantz Financial LLC raised its stake in Johnson & Johnson by 3.3% in the 1st quarter. Lantz Financial LLC now owns 11,974 shares of the company's stock valued at $1,986,000 after acquiring an additional 377 shares during the period. Sulzberger Capital Advisors Inc. purchased a new position in shares of Johnson & Johnson in the fourth quarter worth about $453,000. Joel Isaacson & Co. LLC raised its position in shares of Johnson & Johnson by 3.5% in the first quarter. Joel Isaacson & Co. LLC now owns 74,132 shares of the company's stock valued at $12,294,000 after purchasing an additional 2,526 shares during the period. State of Wyoming boosted its holdings in Johnson & Johnson by 205,580.0% in the 4th quarter. State of Wyoming now owns 10,284 shares of the company's stock worth $1,487,000 after buying an additional 10,279 shares during the period. Finally, Range Financial Group LLC grew its stake in Johnson & Johnson by 18.9% in the 1st quarter. Range Financial Group LLC now owns 15,886 shares of the company's stock valued at $2,635,000 after buying an additional 2,529 shares in the last quarter. Institutional investors own 69.55% of the company's stock.

Johnson & Johnson Trading Up 0.5%

Shares of JNJ traded up $0.82 during mid-day trading on Thursday, hitting $171.41. 9,314,579 shares of the company's stock traded hands, compared to its average volume of 9,367,092. 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 market capitalization of $412.81 billion, a P/E ratio of 18.33, a PEG ratio of 2.17 and a beta of 0.41. The business's 50-day moving average price is $158.89 and its 200-day moving average price is $157.27. Johnson & Johnson has a 1 year low of $140.68 and a 1 year high of $172.18.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last announced its earnings results on Wednesday, July 16th. The company reported $2.77 EPS for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $22.85 billion. During the same quarter in the previous year, the business posted $2.82 EPS. The company's quarterly revenue was up 5.8% on a year-over-year basis. As a group, sell-side analysts forecast that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Dividend Announcement

The business also recently declared 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 is Tuesday, August 26th. This represents a $5.20 annualized dividend and a dividend yield of 3.0%. Johnson & Johnson's dividend payout ratio (DPR) is presently 55.61%.

Analyst Ratings Changes

JNJ has been the subject of a number of analyst reports. The Goldman Sachs Group raised Johnson & Johnson from a "neutral" rating to a "buy" rating and raised their price target for the stock from $157.00 to $172.00 in a report on Wednesday, April 9th. Leerink Partners downgraded Johnson & Johnson from an "outperform" rating to a "market perform" rating and cut their target price for the stock from $169.00 to $153.00 in a research note on Tuesday, May 13th. Erste Group Bank raised shares of Johnson & Johnson from a "hold" rating to a "buy" rating in a report on Wednesday, July 23rd. Guggenheim restated a "neutral" rating and issued a $167.00 price objective (up from $164.00) on shares of Johnson & Johnson in a research report 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 assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $174.50.

Johnson & Johnson Company 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.