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Cobblestone Capital Advisors LLC NY Decreases Stock Holdings in Johnson & Johnson (NYSE:JNJ)

Johnson & Johnson logo with Medical background

Key Points

  • Cobblestone Capital Advisors LLC NY reduced its holdings in Johnson & Johnson by 6.2% during the first quarter, now owning 27,155 shares valued at approximately $4.5 million.
  • Johnson & Johnson reported strong quarterly earnings with an EPS of $2.77, surpassing expectations and showing a 5.8% year-over-year revenue increase.
  • The company declared a quarterly dividend of $1.30 per share, representing a 3.0% yield and a payout ratio of 55.61%.
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Cobblestone Capital Advisors LLC NY lessened its stake in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 6.2% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 27,155 shares of the company's stock after selling 1,806 shares during the period. Cobblestone Capital Advisors LLC NY's holdings in Johnson & Johnson were worth $4,503,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Nuveen LLC purchased a new position in shares of Johnson & Johnson in the 1st quarter worth about $1,369,188,000. Scissortail Wealth Management LLC increased its position in shares of Johnson & Johnson by 37.2% in the first quarter. Scissortail Wealth Management LLC now owns 29,813 shares of the company's stock worth $4,944,000 after purchasing an additional 8,087 shares during the last quarter. Cooper Financial Group grew its position in Johnson & Johnson by 10.2% during the first quarter. Cooper Financial Group now owns 11,516 shares of the company's stock valued at $1,910,000 after acquiring an additional 1,067 shares during the last quarter. American Alpha Advisors LLC bought a new position in shares of Johnson & Johnson in the first quarter worth approximately $465,000. Finally, Biltmore Family Office LLC grew its holdings in shares of Johnson & Johnson by 15.6% in the first quarter. Biltmore Family Office LLC now owns 19,873 shares of the company's stock worth $3,296,000 after purchasing an additional 2,683 shares during the last quarter. Institutional investors own 69.55% of the company's stock.

Wall Street Analysts Forecast Growth

JNJ has been the subject of several recent research reports. Bank of America raised their price objective on Johnson & Johnson from $161.00 to $175.00 and gave the company a "neutral" rating in a research report on Thursday, July 17th. Piper Sandler restated an "overweight" rating on shares of Johnson & Johnson in a report on Thursday, July 17th. Leerink Partners downgraded Johnson & Johnson from an "outperform" rating to a "market perform" rating and reduced their price objective for the stock from $169.00 to $153.00 in a report on Tuesday, May 13th. Raymond James Financial reduced their price objective on Johnson & Johnson from $165.00 to $162.00 and set an "outperform" rating for the company in a report on Monday, April 14th. Finally, Benchmark upgraded Johnson & Johnson to a "strong-buy" rating in a report on Thursday, April 24th. Nine investment 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. Based on data from MarketBeat.com, Johnson & Johnson has an average rating of "Moderate Buy" and a consensus price target of $174.50.

View Our Latest Analysis on JNJ

Johnson & Johnson Stock Performance

Shares of Johnson & Johnson stock traded up $0.65 during trading hours on Monday, reaching $173.98. 7,208,197 shares of the stock traded hands, compared to its average volume of 9,486,962. The company has a 50 day moving average price of $159.63 and a 200 day moving average price of $157.79. The firm has a market capitalization of $418.99 billion, a price-to-earnings ratio of 18.61, a P/E/G ratio of 2.21 and a beta of 0.41. Johnson & Johnson has a one year low of $140.68 and a one year high of $174.60. The company has a quick ratio of 0.76, a current ratio of 1.01 and a debt-to-equity ratio of 0.50.

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

Johnson & Johnson Dividend Announcement

The firm also recently declared 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. The ex-dividend date of this dividend is Tuesday, August 26th. This represents a $5.20 dividend on an annualized basis and a yield of 3.0%. Johnson & Johnson's payout ratio is currently 55.61%.

Johnson & Johnson Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Johnson & Johnson (NYSE:JNJ)

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