Johnson & Johnson (NYSE:JNJ) Holdings Trimmed by King Luther Capital Management Corp

Key Points

• King Luther Capital Management Corp reduced its stake in Johnson & Johnson by 10.7% during the first quarter, holding 452,306 shares valued at approximately $75 million.
• Johnson & Johnson reported earnings per share of $2.77 for the quarter, exceeding analysts' expectations, and showed a 5.8% year-over-year revenue increase.
• The company announced a quarterly dividend of $1.30 per share, resulting in an annualized dividend of $5.20, with a current dividend yield of 3.0%.

King Luther Capital Management Corp reduced its holdings in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 10.7% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 452,306 shares of the company's stock after selling 53,992 shares during the period. King Luther Capital Management Corp's holdings in Johnson & Johnson were worth $75,010,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in JNJ. Highline Wealth Partners LLC boosted its position in Johnson & Johnson by 51.8% during the first quarter. Highline Wealth Partners LLC now owns 252 shares of the company's stock worth $42,000 after purchasing an additional 86 shares during the period. von Borstel & Associates Inc. acquired a new position in Johnson & Johnson in the first quarter valued at $49,000. Harvest Fund Management Co. Ltd bought a new position in shares of Johnson & Johnson in the 1st quarter worth $52,000. Capital A Wealth Management LLC bought a new position in shares of Johnson & Johnson in the 4th quarter worth $50,000. Finally, Pandora Wealth Inc. bought a new position in shares of Johnson & Johnson in the 1st quarter worth $65,000. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Johnson & Johnson Stock Up 0.4%

Shares of JNJ traded up $0.65 on Monday, hitting $173.98. 7,208,197 shares of the stock traded hands, compared to its average volume of 9,486,962. The company has a market capitalization of $418.99 billion, a PE ratio of 18.61, a P/E/G ratio of 2.21 and a beta of 0.41. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.76 and a current ratio of 1.01. The business has a 50 day simple moving average of $159.26 and a 200 day simple moving average of $157.60. Johnson & Johnson has a one year low of $140.68 and a one year high of $174.60.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last issued its earnings results on Wednesday, July 16th. The company reported $2.77 EPS for the quarter, topping analysts' consensus estimates of $2.68 by $0.09. Johnson & Johnson had a net margin of 25.00% and a return on equity of 32.49%. The business had revenue of $23.74 billion for the quarter, compared to analyst estimates of $22.85 billion. During the same period last year, the company posted $2.82 earnings per share. The company's quarterly revenue was up 5.8% compared to the same quarter last year. As a group, equities 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 announced a quarterly dividend, which will be paid on Tuesday, September 9th. Shareholders of record on Tuesday, August 26th will be given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 3.0%. The ex-dividend date is Tuesday, August 26th. Johnson & Johnson's dividend payout ratio is presently 55.61%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on JNJ. Barclays lifted their price target on Johnson & Johnson from $165.00 to $176.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 17th. Morgan Stanley boosted their target price on Johnson & Johnson from $171.00 to $176.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 17th. Benchmark raised Johnson & Johnson to a "strong-buy" rating in a report on Thursday, April 24th. Raymond James Financial decreased their price objective on Johnson & Johnson from $165.00 to $162.00 and set an "outperform" rating on the stock in a research note on Monday, April 14th. Finally, Wall Street Zen cut Johnson & Johnson from a "strong-buy" rating to a "buy" rating in a report on Friday, July 18th. Nine analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average 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.