Mesirow Financial Investment Management Inc. Sells 1,628 Shares of Johnson & Johnson (NYSE:JNJ)

Key Points

• Mesirow Financial Investment Management Inc. has reduced its holdings in Johnson & Johnson by 1.3%, totaling 122,262 shares worth approximately $20.3 million as of the last quarter.
• The stock has received mixed ratings from analysts, with ratings ranging from "hold" to "strong buy," and an average target price of $174.50.
• Johnson & Johnson announced a quarterly dividend of $1.30, which will be paid on September 9th, resulting in an annualized yield of 3.09%.

Mesirow Financial Investment Management Inc. cut its position in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 1.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 122,262 shares of the company's stock after selling 1,628 shares during the quarter. Mesirow Financial Investment Management Inc.'s holdings in Johnson & Johnson were worth $20,275,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Lantz Financial LLC lifted its stake in shares of Johnson & Johnson by 3.3% during the 1st quarter. Lantz Financial LLC now owns 11,974 shares of the company's stock valued at $1,986,000 after buying an additional 377 shares in the last quarter. Sulzberger Capital Advisors Inc. purchased a new position in shares of Johnson & Johnson in the fourth quarter valued at $453,000. Joel Isaacson & Co. LLC lifted its holdings in Johnson & Johnson by 3.5% during the 1st quarter. Joel Isaacson & Co. LLC now owns 74,132 shares of the company's stock worth $12,294,000 after purchasing an additional 2,526 shares in the last quarter. State of Wyoming boosted its stake 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 purchasing an additional 10,279 shares during the period. Finally, Range Financial Group LLC grew its holdings in Johnson & Johnson by 18.9% during 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. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Johnson & Johnson Trading Up 1.6%

Shares of Johnson & Johnson stock traded up $2.59 during trading on Friday, reaching $167.33. 8,914,735 shares of the stock were exchanged, compared to its average volume of 9,077,193. The stock's fifty day moving average is $157.18 and its 200 day moving average is $156.44. The firm has a market cap of $402.99 billion, a price-to-earnings ratio of 17.90, a price-to-earnings-growth ratio of 2.13 and a beta of 0.41. 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 has a 1 year low of $140.68 and a 1 year high of $169.99.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last posted its earnings results on Wednesday, July 16th. The company reported $2.77 earnings per share for the quarter, topping 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 the consensus estimate of $22.85 billion. During the same quarter in the prior year, the business earned $2.82 EPS. The business's revenue for the quarter was up 5.8% on a year-over-year basis. As a group, equities research analysts expect that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 9th. Shareholders of record on Tuesday, August 26th will be issued a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend is Tuesday, August 26th. Johnson & Johnson's payout ratio is 55.61%.

Analyst Ratings Changes

JNJ has been the topic of several recent analyst reports. Bank of America increased their target price on shares of Johnson & Johnson from $161.00 to $175.00 and gave the stock a "neutral" rating in a research note on Thursday, July 17th. Piper Sandler restated an "overweight" rating on shares of Johnson & Johnson in a research report on Thursday, July 17th. Sanford C. Bernstein restated a "market perform" rating on shares of Johnson & Johnson in a research report on Wednesday, April 16th. Benchmark upgraded shares of Johnson & Johnson to a "strong-buy" rating in a research report on Thursday, April 24th. Finally, Erste Group Bank upgraded shares of Johnson & Johnson from a "hold" rating to a "buy" rating in a research report on Wednesday, July 23rd. Nine research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average 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.