Jupiter Asset Management Ltd. Sells 51,700 Shares of Johnson & Johnson (NYSE:JNJ)

Key Points

• Jupiter Asset Management Ltd. reduced its holdings in Johnson & Johnson by 35.8%, selling 51,700 shares to own a total of 92,702 shares worth approximately $15.37 million.
• Analysts have issued mixed ratings for Johnson & Johnson, with some downgrading the stock while others raised the price target, resulting in a consensus rating of "Moderate Buy" and target price of $174.50.
• Johnson & Johnson recently declared a $1.30 quarterly dividend, set to be paid on September 9th, which represents a 3.1% yield.

Jupiter Asset Management Ltd. lowered its position in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 35.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 92,702 shares of the company's stock after selling 51,700 shares during the period. Jupiter Asset Management Ltd.'s holdings in Johnson & Johnson were worth $15,374,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in JNJ. Brighton Jones LLC lifted its stake in Johnson & Johnson by 13.9% during the fourth quarter. Brighton Jones LLC now owns 51,876 shares of the company's stock worth $7,502,000 after purchasing an additional 6,332 shares during the last quarter. Hudson Value Partners LLC grew its stake in shares of Johnson & Johnson by 2.5% during the fourth quarter. Hudson Value Partners LLC now owns 41,403 shares of the company's stock valued at $5,648,000 after buying an additional 1,022 shares during the last quarter. PAX Financial Group LLC grew its stake in shares of Johnson & Johnson by 2.3% during the fourth quarter. PAX Financial Group LLC now owns 4,492 shares of the company's stock valued at $650,000 after buying an additional 103 shares during the last quarter. Islay Capital Management LLC grew its stake in shares of Johnson & Johnson by 2.6% during the fourth quarter. Islay Capital Management LLC now owns 9,247 shares of the company's stock valued at $1,337,000 after buying an additional 235 shares during the last quarter. Finally, Resona Asset Management Co. Ltd. bought a new position in shares of Johnson & Johnson during the fourth quarter valued at about $117,401,000. Institutional investors own 69.55% of the company's stock.

Wall Street Analysts Forecast Growth

JNJ has been the topic of a number of recent research reports. Leerink Partnrs cut Johnson & Johnson from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 13th. Leerink Partners cut Johnson & Johnson from an "outperform" rating to a "market perform" rating and reduced their price objective for the company from $169.00 to $153.00 in a research note on Tuesday, May 13th. Guggenheim reaffirmed a "neutral" rating and set a $167.00 price objective (up from $164.00) on shares of Johnson & Johnson in a research note on Thursday, July 17th. Sanford C. Bernstein reaffirmed a "market perform" rating on shares of Johnson & Johnson in a research note on Wednesday, April 16th. 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 given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Johnson & Johnson presently has an average rating of "Moderate Buy" and a consensus target price of $174.50.

Johnson & Johnson Stock Up 0.0%

Shares of JNJ stock traded up $0.07 during trading hours on Thursday, hitting $170.66. 945,064 shares of the company's stock traded hands, compared to its average volume of 9,035,246. The stock's fifty day simple moving average is $158.53 and its two-hundred day simple moving average is $157.10. Johnson & Johnson has a 12-month low of $140.68 and a 12-month high of $172.18. The stock has a market cap of $411.00 billion, a price-to-earnings ratio of 18.22, a PEG ratio of 2.17 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 (NYSE:JNJ - Get Free Report) last released its earnings results on Wednesday, July 16th. The company reported $2.77 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $22.85 billion. During the same period last year, the business earned $2.82 earnings per share. The business's revenue was up 5.8% on a year-over-year basis. On average, analysts expect that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Dividend Announcement

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

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.