LGT Fund Management Co Ltd. Cuts Stock Position in Johnson & Johnson (NYSE:JNJ)

Key Points

• LGT Fund Management Co Ltd. reduced its stake in Johnson & Johnson by 56.7%, owning 4,969 shares valued at $824,000 after selling 6,514 shares in the first quarter.
• Johnson & Johnson reported earnings of $2.77 per share for the last quarter, exceeding analysts' estimates of $2.68, and had a revenue of $23.74 billion, up 5.8% from the previous year.
• The company announced a quarterly dividend of $1.30 per share, representing an annualized yield of 3.0%, with the payment scheduled for September 9th.

LGT Fund Management Co Ltd. reduced its stake in Johnson & Johnson (NYSE:JNJ - Free Report) by 56.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,969 shares of the company's stock after selling 6,514 shares during the period. LGT Fund Management Co Ltd.'s holdings in Johnson & Johnson were worth $824,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Lantz Financial LLC increased its stake in Johnson & Johnson by 3.3% during the first quarter. Lantz Financial LLC now owns 11,974 shares of the company's stock worth $1,986,000 after purchasing an additional 377 shares during the period. Sulzberger Capital Advisors Inc. acquired a new position in shares of Johnson & Johnson during the fourth quarter worth about $453,000. Joel Isaacson & Co. LLC grew its position in shares of Johnson & Johnson by 3.5% during the first quarter. Joel Isaacson & Co. LLC now owns 74,132 shares of the company's stock worth $12,294,000 after buying an additional 2,526 shares in the last quarter. State of Wyoming grew its position in shares of Johnson & Johnson by 205,580.0% during the fourth 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 in the last quarter. Finally, Range Financial Group LLC grew its position in shares of Johnson & Johnson by 18.9% during the first quarter. Range Financial Group LLC now owns 15,886 shares of the company's stock worth $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 Stock Performance

Shares of JNJ stock traded up $1.51 during trading hours on Wednesday, hitting $174.29. The stock had a trading volume of 5,872,136 shares, compared to its average volume of 9,392,730. The firm has a market capitalization of $419.75 billion, a PE ratio of 18.64, a PEG ratio of 2.20 and a beta of 0.41. Johnson & Johnson has a twelve month low of $140.68 and a twelve month high of $174.76. The stock's 50 day moving average is $160.42 and its 200 day moving average is $158.01. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.01 and a quick ratio of 0.76.

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 the consensus estimate of $2.68 by $0.09. Johnson & Johnson had a return on equity of 32.49% and a net margin of 25.00%. The business had revenue of $23.74 billion during the quarter, compared to the consensus estimate of $22.85 billion. During the same period in the prior year, the company earned $2.82 earnings per share. The company's revenue was up 5.8% compared to the same quarter last year. As a group, research analysts forecast that Johnson & Johnson will post 10.58 earnings per share 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 paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 3.0%. The ex-dividend date is Tuesday, August 26th. Johnson & Johnson's dividend payout ratio is 55.61%.

Analysts Set New Price Targets

JNJ has been the subject of a number of analyst reports. Benchmark raised Johnson & Johnson to a "strong-buy" rating in a research report on Thursday, April 24th. Barclays boosted their price objective on Johnson & Johnson from $165.00 to $176.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 17th. Piper Sandler reissued an "overweight" rating on shares of Johnson & Johnson in a research report on Thursday, July 17th. Wall Street Zen downgraded Johnson & Johnson from a "strong-buy" rating to a "buy" rating in a research report on Friday, July 18th. Finally, Bank of America upped their price target on Johnson & Johnson from $161.00 to $175.00 and gave the company a "neutral" rating in a report on Thursday, July 17th. Nine analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the 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.