Johnson & Johnson (NYSE:JNJ) Shares Sold by FourThought Financial Partners LLC

Key Points

• FourThought Financial Partners LLC reduced its stake in Johnson & Johnson by 62.9%, holding 16,618 shares worth approximately $2.76 million after selling 28,172 shares in the first quarter.
• Institutional investors own 69.55% of Johnson & Johnson's stock, with several firms like Geode Capital Management and Bank of New York Mellon Corp making significant increases in their holdings during the previous quarters.
• Johnson & Johnson announced a quarterly dividend of $1.30 per share, with an annualized yield of 3.09%, signaling ongoing financial stability despite fluctuations in its stock price.

FourThought Financial Partners LLC lessened its holdings in Johnson & Johnson (NYSE:JNJ - Free Report) by 62.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,618 shares of the company's stock after selling 28,172 shares during the quarter. FourThought Financial Partners LLC's holdings in Johnson & Johnson were worth $2,756,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of JNJ. Geode Capital Management LLC boosted its position in Johnson & Johnson by 2.8% in the 4th quarter. Geode Capital Management LLC now owns 57,667,920 shares of the company's stock worth $8,321,881,000 after purchasing an additional 1,561,036 shares in the last quarter. Northern Trust Corp boosted its position in 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 purchasing an additional 3,363,235 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Johnson & Johnson by 1.8% during the 4th quarter. Wellington Management Group LLP now owns 24,356,572 shares of the company's stock valued at $3,522,447,000 after buying an additional 431,205 shares in the last quarter. Bank of New York Mellon Corp lifted its position 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 buying an additional 4,842,582 shares in the last quarter. Finally, Invesco Ltd. lifted its position in shares of Johnson & Johnson by 6.5% during the 4th quarter. Invesco Ltd. now owns 19,126,079 shares of the company's stock valued at $2,766,014,000 after buying an additional 1,171,975 shares in the last quarter. Institutional investors and hedge funds own 69.55% of the company's stock.

Johnson & Johnson Stock Performance

Shares of Johnson & Johnson stock opened at $168.29 on Friday. The business has a 50-day moving average of $156.08 and a 200 day moving average of $155.78. Johnson & Johnson has a 12 month low of $140.68 and a 12 month high of $169.99. The stock has a market capitalization of $404.92 billion, a price-to-earnings ratio of 18.00, a price-to-earnings-growth ratio of 2.16 and a beta of 0.41. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.26 and a quick ratio of 1.03.

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 return on equity of 33.07% and a net margin of 25.00%. The company had revenue of $23.74 billion during the quarter, compared to analysts' expectations of $22.85 billion. During the same period last year, the business posted $2.82 EPS. Johnson & Johnson's revenue for the quarter was up 5.8% on a year-over-year basis. As a group, sell-side analysts forecast that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Announces Dividend

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 paid a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 3.09%. The ex-dividend date of this dividend is Tuesday, August 26th. Johnson & Johnson's payout ratio is presently 55.61%.

Wall Street Analyst Weigh In

JNJ has been the topic of a number of recent analyst reports. The Goldman Sachs Group upgraded Johnson & Johnson from a "neutral" rating to a "buy" rating and increased their target price for the company from $157.00 to $172.00 in a research report on Wednesday, April 9th. 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 research note on Monday, April 14th. Benchmark raised Johnson & Johnson to a "strong-buy" rating in a research note on Thursday, April 24th. Guggenheim reissued a "neutral" rating and issued a $167.00 price objective (up from $164.00) on shares of Johnson & Johnson in a research note on Thursday, July 17th. Finally, Piper Sandler reissued an "overweight" rating on shares of Johnson & Johnson in a research note on Thursday, July 17th. Nine research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, Johnson & Johnson has an average rating of "Moderate Buy" and a consensus price target of $174.50.

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.

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